Bridgecard Pre-seed Round; Building the OS for Finance in Africa.
Most people have multiple bank accounts and usually require multiple cards, apps, etc. to manage all these accounts. This is the foundation of what we're building at Bridgecard. Bridgecard merges all your cards, bank accounts, and fintech wallets into one card and an app, so you can perform online transactions, pay bills, and withdraw from any linked account within one app. You also get a physical card that can withdraw from any Nigerian or supported International bank account and a dollar card that allows you spend over $10,000 limit monthly.
About two months ago, we closed our pre-seed round where we raised a total of $440,000 from multiple invetsors including ABV funds, Ingressive Capital, Voltron Capital, Venture Platform, Velocity Digital, Berrywood Capital, Johnson Yaya, Kennedy and Duke from Kippa, and Miracle Anyanwu.
When talking about the problem we're solving, our CTO and co-founder, Festus Owumi said, "people either don’t have an ATM card for their bank because they can’t afford to join the long queues at the bank, or it’s a fintech app for savings and investment and so they don’t have a card issued to withdraw directly from it. Some others are not able to set up mobile banking for their accounts which makes spending difficult. Another problem they all complained about was the new $20 monthly transaction limit that their banks imposed on their cards". This challenge is faced by many Nigerians, and we are committed to solving it continually.
Buttressing that, our CEO, Tunde Adewole also said, “We built Bridgecard because it’s quite difficult to have just one bank and even more difficult to manage funds across multiple bank accounts. We wanted to solve this problem by building an operating system for money, one app where you could spend, send, and see the money in all your bank accounts and wallets. We also wanted to provide our users with one card that can support all your online and offline transactions. Bridgecard moved from a mobile app my co-founder and I used to make our lives better to what we got over 5000 people interested in. We really can’t wait to solve this problem for every African.”
There are so many things that can be done on Bridgecard and many advantages for you; you get a virtual dollar card with over $10,000 limit monthly, a physical dollar card that manages both Naira and Dollar transactions, you can transfer money from multiple accounts simultaneously, pay of bills, keep your money more secure because no one can steal your card and access your money, and you can also manage how you spend money weekly.
During our recently concluded a private beta with about 120 users, we processed over $70,000 in transaction volume within two months and we are beyond happy about that. With this pre-seed round raised, we intend to increase the number of bank accounts that can be linked on Bridgecard, expand Bridgecard to support crypto wallets in supported countries, get the product in the hands of more people, and solve online and card payment issues better.
We have written about the security of our platform and cards, as well as the perks of our virtual card. We are still innovating and making the product much better. This launch and funding are the first step in helping us build our dream of being the OS for finance in Africa. You can download the app and start enjoying Bridgecard now.