Nigeria POS poised for growth after $1 million funding


Gigtrops Payment App Founder and Chief Executive Officer, Samuel Ntekob

from OKORO CHINEDU in Lagos, Nigeria
Nigeria Bureau
LAGOS, (CAJ News) – THE contactless payment company, Flurstack, has pledged to transform this sector in Nigeria after securing an investment of U$1 million.

The funding is to further bolster its offerings and expand its reach within the local market.

It represents a major achievement for the Lagos-based firm that was founded this year.

Samuel Ntekob, founder and Chief Executive Officer of Flurstack, said this was testament to the confidence investors had in Flurstack’s vision and the strides it made in the four months since its inception.

Funders were not disclosed.

“We are thrilled to have garnered such strong support from investors who recognize the transformative potential of our contactless payment services,” Ntekob said.

He said Flurstack was committed to revolutionizing the way Nigerians transacted, providing a seamless and secure payment experience.

The executive said Flurstack had distinguished itself by offering cutting-edge point of sale (POS) solutions that prioritise security, convenience and accessibility.

Pledging a user-friendly interface and robust security measures, Flurstack believes it empowers users to tap to pay as well as receive payments with confidence, eliminating the risks associated with traditional payment methods.

Statista projects the transaction value in the Mobile POS payments market in Nigeria is anticipated to reach US$2,92 billion before the end of 2024.

It is forecast to reach a market volume of $5,6 billion by 2028.

– CAJ News

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