WHO IS OUR PROSPECTIVE CLIENT?
TeamApt Inc. ("TeamApt" or the "Company") is a financial technology company creating financial services for millions of underserved consumers and businesses in Nigeria. These services include payment gateways, cash points and access to finance for SME's. Currently, 15 million customers, 35,000+ businesses and top-tier banks depend on TeamApt's solutions for financial access & inclusion.
WHAT IS THE FUNDING OBJECTIVE?
FMO intends to participate in the Series A equity round of the Company with a USD 2.4mln participation from the FMO Ventures Program. The FMO Ventures Program aims to help develop emerging markets by investing in early-stage technology-enabled innovative business models and is supported by contributions from the Ministry of Foreign Affairs of the Netherlands as well as by a guarantee from the European Commission.
WHY DO WE WANT TO FUND THIS PROJECT?
Fit with the FMO Venture Program stems from the innovative solutions of TeamApt, which aim to improve access to finance for un(der)banked businesses and un(der)served populations across Nigeria.
ENVIRONMENTAL AND SOCIAL RATIONALE
As a technology service provider, TeamApt carries low "C" risk for environmental and social aspects.
ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: email@example.com
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism