Anchor, an embedded finance fintech startup, has secured $2.4 million in a recent seed funding round, with Goat Capital leading the investment. The round also saw participation from prominent backers like FoundersX, Rebel Fund, Pioneer Fund, Y Combinator, Byld Ventures, and Future Africa, among others.
Anchor is a fintech startup that enables fintechs and small to medium-sized enterprises (SMEs) to seamlessly integrate financial services into their core products. The company’s platform provides a variety of APIs that allow businesses to create bank accounts, issue payment cards, facilitate smooth transactions, and offer savings and investment products, all without the cumbersome process of acquiring expensive licenses.
Anchor is disrupting the financial services industry by providing a more efficient and cost-effective way for businesses to offer financial services to their customers. The company’s platform is easy to use and scalable, making it a viable option for businesses of all sizes.
Anchor’s Growth and Expansion Plans
Anchor has experienced rapid growth since its inception, and the company is now looking to expand its services to other businesses. The company has also entered into a promising partnership with the fintech arm of MTN MoMo PSB, which is expected to help Anchor achieve its growth goals.
The Future of Embedded Finance
Embedded finance is a rapidly growing trend in the fintech industry, and Anchor is well-positioned to capitalize on this trend. The company’s platform is uniquely suited to meet the needs of businesses that are looking to offer financial services to their customers.
In an increasingly digitized business environment, fintechs are racing to tap into the expanding market of digitizing sectors, which Anchor believes presents a $7 billion opportunity locally, with global projections surpassing $622 billion in the next decade.
