E-Settlement, a Nigerian fintech company acquired QuickCash from the Ivory Coast
E-Settlement, a Nigerian financial firm, has purchased QuickCash, a company located in the Ivory Coast, to enable it to grow into a number of other West African nations.
E-Settlement, founded in 2017 by Olaoluwa Awojoodu, offers financial services to a variety of target markets through its platforms, putting it at the forefront of innovative, easy-to-use, economical, secure, and inclusive payment solutions for Africa.
CashEnvoy, the mobile point of sale (MPOS) solution PayPad, and the agent banking platform PayCentre are among the company’s first-of-their-kind payment solutions in Nigeria. It has recently stated that it has agreed to buy QuickCash, an Ivorian electronic payment and money transfer firm that promotes financial inclusion for rural communities and those working in the informal sector in countries such as Ivory Coast, Burkina Faso, Niger, Togo, and others.
QuickCash was founded in 2010 as a prominent provider of financial, agricultural, and educational digital services. The firm creates creative, easy, and accessible financial solutions that reach out to underserved people, notably those living in rural locations with limited access to power or mobile phone coverage.
The agreement will enhance E-payment Settlement’s service offering, enabling the company to expand its reach across Africa and expand its agent banking network to 200,000 agents by the end of 2022. QuickCash will become a wholly-owned subsidiary following the acquisition.
“QuickCash is deepening access for agricultural-dominated areas, rural populations, the underbanked and unbanked: the disproportionately financially excluded. We are very excited to join forces with a game-changing provider that aligns with our mission and purpose and is committed to unlocking potential and prosperity among the underserved,” said Awojoodu.
“At E-Settlement, we want to empower all by accelerating access to payments, financial services, and jobs. We are confident that our expansion plan for QuickCash will support the company’s long-term growth and enhance our collective ability to deliver positive impact to many more.”
QuickCash’s CEO, Patricia Zoundi Yao, said she thought E-Settlement had the proper vision and deep knowledge to lead the company’s regional development and next stage of growth.
“E-Settlement s a leading payment services provider with a strong position in Nigeria’s fintech ecosystem. The success story of agency banking in Nigeria cannot be told without E-Settlement, and this makes them the best fit to build on the success we have achieved so far,” said Yao.
