Source: Victoria Fakiya/Tech Point

Nigerian fintech startup, OnePipe, has secured a $4.8 million credit line from TLG Capital to drive the company’s inventory finance solution for small businesses.

OnePipe, a company that drives digital financial services, offers several solutions, including embedded payment and reconciliation services.

According to Ope Adeoye, the company’s CEO, OnePipe will now focus on particular embedded finance use cases, such as inventory finance.

The company plans to grow its business and establish itself as a leading supplier of financial services to Nigeria’s informal sector.

This is coming as the company laid off about 20% of its workforce to cut back on projects due to microeconomic factors.

Affected staff will receive two months of severance pay, and executive team salaries will be reduced.

Source: Victoria Fakiya/Tech Point