Zazuu Shuts Down After 5 Years of Operation Due to Lack of Funding

  • Weekly Giveaway for our active users. N50,000 per Week. Do you want to contribute to this community? We are looking for contribution? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing Nigerian forum!

Amazin Zion

Member
Mar 1, 2023
542
1
18
24
BANNER-WITH-ZAZUU-1-1024x576-1-1024x570.jpg


Zazuu, a London-based fintech company aiding cross-border payment networks in Africa, has announced that it will shut down due to a lack of funding. Before now, the firm has raised $2 million in different financing rounds from investors like Founder Factory and Launch Africa.
1700494566030.png

“We explored every option before making this decision,” the company said in a LinkedIn post announcing the closure.

The firm (Zazuu) was founded by Kay Akinwunmi (CEO), Korede Fanilola (COO), Tosin Ekolie (CTO), and Tola Alade (CDO) in 2018 and raised a $200,000 seed round from Launch Africa and ODBA in August 2021. After this, the company raised $2 million from Founders Factory Africa, Lauch Africa, ODBA, HoaQ, Tinie Tempah, Jason Njoku, Babs Ogundeyi, and other angel investors.

Read more: https://www.investingport.com/zazuu-shuts-down-after-5-years-of-operation-due-to-lack-of-funding/