Nigerian Fintech startup E-Settlement has acquired the Ivory Coast-based QuickCash to help its West African expansion.
E-Settlement was established in 2017 by Olaoluwa Awojoodu to provide financial services to different target markets through its platforms, placing itself at the forefront of innovative, easy-to-use, affordable, secure, and inclusive payment solutions for Africa has embarked on expansion across the West African coast.
The acquisition of Ivorian QuickCash- a leading provider of financial, agricultural, and educational digital services established in 2010, will promote financial inclusion of rural populations and those operating in the informal sectors of Côte d’Ivoire, Burkina Faso, Niger, Togo, and more.
In a statement released by E-Settlement, it said that the deal will extend its payment service offering, supporting its intent to expand its footprint across the continent, and grow the group’s agent banking network to 200,000 agents by the end of 2022 while allowing QuickCash to operate as a wholly-owned subsidiary.
Olaoluwa Awojoodu, CEO, E-Settlement, said, “QuickCash is deepening access for agricultural-dominated areas, rural populations, the underbanked and unbanked: the disproportionately financially excluded. We are very excited to join forces with a game-changing provider that aligns with our mission and purpose and is committed to unlocking potential and prosperity among the underserved.
“At E-SL, we want to empower all by accelerating access to payments, financial services, and jobs. We are confident that our expansion plan for QuickCash will support the company’s long-term growth and enhance our collective ability to deliver positive impact to many more”.
Patricia Zoundi Yao, CEO, QuickCash, said, “We believe that E-Settlement Limited has the right vision and deep expertise to drive QuickCash’s geographic expansion and next stage of growth. E-SL is a leading payment services provider with a strong position in Nigeria’s fintech ecosystem. The success story of agency banking in Nigeria cannot be told without E-SL, and this makes them the best fit to build on the success we have achieved so far”.