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Thepeer
API for fintech startups.
- Category:
- Fintech
- Country:
- Nigeria
- Founded:
- 2021
- Cause of Failure:
- Compliance issues, lack of product-market fit
- Outcome:
- Shutdown
- Shut Down in:
- April 2024
- Founders:
- Kosisochukwu Chike Ononye, Michael Okoh
- Number of Founders:
- 2
- Number of Employees:
- 11-50
- Funding Amount:
- $2.30 M
- Last Funding Round:
- Seed
- Notable Investors:
- Raba Partnership, Rali Cap
About Thepeer
Thepeer was a Nigeria-based API startup that hoped to power infrastructure for mainly fintech businesses, from small to medium-sized. Thepeer aimed to make things easier for everyone by streamlining digital wallet payments and transfers. They envisioned a world where people could pay and receive money seamlessly through digital wallets, a technology gaining traction in Nigeria.
What went wrong?
Thepeer's success hinged on striking a delicate balance. They needed to attract businesses with a compelling initial offer while building a sustainable business model for the long run.
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