E-Settlement, a Nigerian fintech startup, has announced the acquisition of QuickCash, an Ivorian e-payment and money transfer startup promoting financial inclusion of rural populations and those operating in the informal sectors of Côte d’Ivoire, Burkina Faso, Niger, Togo, and more.
Established in 2010, QuickCash is a provider of innovative, simple, and accessible financial, agricultural, and educational digital services to underserved populations, particularly those living within rural areas with less access to electricity or mobile phone connectivity.
This new move will extend E-Settlement’s payment services offering, and support the intent to expand its footprint across the continent and grow its agent banking network to 200,000 agents by the end of 2022 and also contribute to the development of Africa by creating more jobs, easy access to financial services such as loans, credit, etc.
On the acquisition, Olaoluwa Awojoodu, CEO, E-Settlement, said: “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.
“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 Patricia Zoundi Yao, also commented: ”We believe that E-Settlement Limited has the right vision and deep expertise to drive QuickCash’s geographic expansion and next stage of growth.
“E-Settlement is 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-SL, and this makes them the best fit to build on the success we have achieved so far.”
