Intelligence Lab
Predict the next failure before it happens.
We've turned the data from Okra into a stress-test model. Simulate this deal's risk profile in our new Laboratory.
Run a Pre-Mortem
Okra
Open banking solutions
- Category:
- Fintech
- Country:
- Nigeria
- Founded:
- 2019
- Cause of Failure:
- Financial challenges
- Outcome:
- Shutdown
- Shut Down in:
- July 2025
- Founders:
- David Peterside, Fara Ashiru Jituboh
- Number of Founders:
- 2
- Number of Employees:
- 11-50
- Funding Amount:
- $16.50 M
- Last Funding Round:
- Series A
- Notable Investors:
- Base10 Partners, Susa Ventures, TLcom Capital Partners
About Okra
Okra was a fintech startup that aimed to provide open banking solutions in Nigeria. The startup offered APIs that allowed businesses to access financial data and build innovative financial products.
What went wrong?
A statement from the former CEO/CTO said: "The company made the decision to wind down operations in May. It was an incredible journey; we built impactful technology, worked with some of the biggest brands across the continent, and helped pioneer open banking in Africa. I'm proud to have worked alongside some of the smartest and most talented people, and I'm deeply grateful for the community, customers, investors, and team who supported us over the past five years."
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Okra Closes Down: What Happened to Nigeria's Open Banking Pioneer?Subscribe to our newsletter
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