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FINTECH AFRICA | Nigerian Fintech, Pivo, Shuts Down Operations One Year Post-Funding

BitKE

Pivo, a Nigerian fintech that provided banking services to small supply chain businesses, is closing down one year after securing a $2 million seed round.

Established by Nkiru Amadi-Emina (CEO) and Ijeoma Akwiwu (COO) in July 2021, Pivo was a startup that provided banking services specifically tailored for small logistics and haulage businesses in Nigeria’s supply chain sector.

As reported by BitKE, in late 2022, the Nigerian startup, announced the close of a $2 million seed round from several investors including:

  • Precursor Ventures
  • Vested World
  • Y Combinator
  • FoundersX, and
  • Existing investor, Mercy Corp Ventures

The startup said it would be building new products while also exploring expansion to East African markets.

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