C-One Ventures has acquired the assets of Bankly, a Nigerian financial technology (fintech) company.
According to NAN, the deal, which requires regulatory approval from the Central Bank of Nigeria (CBN), was announced in a statement on Monday by the corporate communications units of both companies.
Bankly, which was established in 2018, has focused on expanding financial access within Nigeria’s informal sector.
However, the company has recently faced operational difficulties, including delayed withdrawals and liquidity issues.
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Speaking on the deal, Tomilola Majekodunmi, co-founder of Bankly, said it demonstrates C-One’s commitment and customer protection.
Majekodunmi added that once completed, Bankly’s services and talent will integrate with complementary offerings from other companies within the C-One Ventures portfolio.
“We believe financial services should be simple, affordable, and accessible to everyone,” he said.
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“Bringing Bankly into our ecosystem enables a powerful combination of community networks and digital infrastructure to expand financial access and drive economic participation.”
According to the report, Majekodunmi is expected to remain in an advisory role during the transition.
Also, a spokesperson for C-One said the investment would prioritise resolving customer obligations, stabilising operations, and strategically integrating Bankly’s technology.
“Restoring customer confidence and ensuring operational resilience are our immediate priorities,” the spokesperson said.
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“We are committed to scaling Bankly’s vision and delivering lasting value to our community.”
The company added that the transaction involves a modest cash consideration, with a strong focus on sustainable growth and protecting customers’ interests.
