Nigerian Open Finance Startup Okra Secures $3.5m Seed Roundby Fintechnews Africa 22 April 2021
Okra, Africa’s Open Finance API announced its $3.5m Seed raise. The round was led by US-based Susa Ventures, with participation from existing investors TLcom Capital, and newly joined Accenture Ventures.
Okra is an Open Finance platform that enables developers and businesses build personalized digital services and fintech products for customers. Okra’s API is a one-stop-shop for fintech developers in Africa.
Leading the round, San Francisco-based Susa Ventures is known as one of the premium seed-stage funds in Silicon Valley with notable early investments, including Robinhood, multi-billion dollar company Flexport, Andela and Fast. Susa is also known for co-investing with top tier firms like Peter Theil’s Founders Fund, Index Ventures, Kleiner Perkins, GV (Google Ventures), General Catalyst, Andreessen Horowitz, & Accel Partners.
Beyond Susa and Accenture Ventures, Okra brought on three super angels to this round. Rob Solomon; Chairman at GoFundMe — he is also a former Partner at Accel, Arpan Shah; Founding engineer and ex- Head of Data Platforms/Data products at Robinhood, and Hongxia Zhong; Founding engineer and ex- Senior engineering manager at Robinhood.
Seth Berman, General Partner at Susa adds,
“We’re thrilled to partner with Okra as they enable developers across the African continent to transform digital financial services. We’re blown away by the quality of Okra’s team, the pace of development, and the excitement from the customers building on their API.”
Consumer behaviour in Africa is changing and consumers are demanding full digital experiences of all services — including financial services. Across the business landscape, the number one priority across every board room is digital transformation and Okra is the go-to platform for developers and businesses to build end-to-end personalized digital experiences for consumers in Africa.