MeekFi
Meekfi is an infastructural company dedicated to unlocking economic opportunities across Africa's under served communities.
MeekFi, established in 2021 by Okechukwu Nwabufoh and Julius Olajumoke, is a financial technology company targeting the African market with a focus on enhancing financial inclusion. The firm is strategically positioned to bridge the gap for the 57% of Africans who lack a bank account, including mobile money accounts. Operating primarily in the FinTech and Mobile Commerce sectors, MeekFi is registered in Dover, Delaware, in the United States, but its operational headquarters are in Cotonou, Benin.
The company's core business revolves around providing modern financial infrastructure that leverages the widespread adoption of mobile money in Africa. MeekFi has developed a suite of products for both individuals and businesses. A key service is the cardless ATM withdrawal feature, which allows users to get cash from ATMs using only their mobile money wallet, without needing a bank account or a physical card. This service was launched in the Republic of Benin in partnership with UBA bank, and mobile money operators Moov and MTN.
For businesses of all sizes, MeekFi provides a financial stack designed to streamline operations. This includes a cardless point-of-sale solution that enables merchants to accept instant payments from customers. The company emphasizes enterprise-level security, holding an ISO 27001 certification and implementing two-factor authentication to ensure transaction safety. The business model appears to be centered on partnerships with banks and mobile money operators to facilitate these transactions. MeekFi's services are available in numerous African countries, including Benin, Cameroon, Chad, Congo Brazzaville, Congo DR, Côte d'Ivoire, Gabon, Guinea, Liberia, Mali, Senegal, Sierra Leone, and Zambia. The company is a venture-backed, seed-stage entity, having secured an undisclosed amount of funding in a seed round on May 25, 2023, with Tekedia Capital as an investor.
Keywords: financial inclusion Africa, mobile money wallet, cardless ATM withdrawal, FinTech Africa, payment infrastructure, mobile commerce, point-of-sale solutions, financial services Benin, unbanked solutions, digital payments, emerging markets finance, cross-border payments Africa, Okechukwu Nwabufoh, Julius Olajumoke, Tekedia Capital, UBA partnership, MTN mobile money, Moov mobile money, SaaS, financial software