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Founded Year

2019

Stage

Seed VC - II | Alive

Total Raised

$4.5M

Last Raised

$3.5M | 3 yrs ago

About Okra

Okra is an open finance company operating in the financial technology sector. The company provides businesses with secure access to financial data and payments through a single integration, enabling them to build innovative financial solutions. Okra's services are primarily utilized by businesses in the fintech industry. It was founded in 2019 and is based in Lagos, Nigeria.

Headquarters Location

Unit 11, Kayla's Haven Oniru Private Estate , Victoria Island

Lagos, 101241,

Nigeria

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Okra's Products & Differentiators

    Okra

    Open Finance API for the African market

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Research containing Okra

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Okra in 2 CB Insights research briefs, most recently on Feb 15, 2022.

Expert Collections containing Okra

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Okra is included in 2 Expert Collections, including Fintech.

F

Fintech

12,502 items

Excludes US-based companies

D

Digital Banking

741 items

Okra Patents

Okra has filed 2 patents.

The 3 most popular patent topics include:

  • calcium compounds
  • edible thickening agents
  • food additives
patents chart

Application Date

Grant Date

Title

Related Topics

Status

4/16/2020

7/20/2021

Oxidizing agents, Food additives, Polysaccharides, Calcium compounds, Edible thickening agents

Grant

Application Date

4/16/2020

Grant Date

7/20/2021

Title

Related Topics

Oxidizing agents, Food additives, Polysaccharides, Calcium compounds, Edible thickening agents

Status

Grant

Latest Okra News

Banking Briefing: Open banking in Africa & how to make finance fun

May 31, 2022

Okra, fintech in Africa, and open banking going global Okra is a Nigerian open banking platform. Founded in 2019, Okra was one of the first of its kind in the African open banking space. The company aims to be a portal between financial service providers and consumers’ financial data. “People like you and me want to use financial services on our phones. We don’t want to go to a bank branch. And Okra is essentially the operating system for all the banks and fintechs that are looking to serve consumers [this way],” said David Peterside, co-founder and COO of Okra. “(…) So whether you call yourself a bank or a fintech, depending on the license you have, if you want to build any fintech feature or platform, you can essentially use Okra as a full stack solution.” Okra’s services include fintech capabilities within payments, banking, lending, personal finance, and business finance. For now, Okra’s focus is to serve companies in Nigeria. That may be a pretty natural starting point – according to Peterside, not only is Nigeria the largest market on the continent but it’s also predicted to be the third largest country in the world by 2050. Still, Okra’s goal is to eventually spread across Africa. “Africa is the youngest and fastest growing market globally in terms of population. What’s super interesting is that these people are mostly digital natives and they all are demanding more convenient ways to live their lives,” said Peterside. In terms of product expansion, Peterside said the fintech is looking more seriously at money movement: “We’ve seen huge growth on the data side of the business used to power fintech platforms but we’re constantly seeing demand from customers for better ways to move money. We’re in a private beta with several partners on a product that fills this need and we’re super excited about it.” Zooming out   This content is available exclusively to Tearsheet Outlier members. Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo . Already an Outlier member? Sign in to your account

Okra Frequently Asked Questions (FAQ)

  • When was Okra founded?

    Okra was founded in 2019.

  • Where is Okra's headquarters?

    Okra's headquarters is located at Unit 11, Kayla's Haven, Lagos.

  • What is Okra's latest funding round?

    Okra's latest funding round is Seed VC - II.

  • How much did Okra raise?

    Okra raised a total of $4.5M.

  • Who are the investors of Okra?

    Investors of Okra include TLcom Capital, Arpan Shah, Hongxia Zhong, Rob Solomon, Susa Ventures and 3 more.

  • Who are Okra's competitors?

    Competitors of Okra include Stitch and 2 more.

  • What products does Okra offer?

    Okra's products include Okra.

  • Who are Okra's customers?

    Customers of Okra include Renmoney and Autocheck.

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Pngme operates as a unified financial data application programming interface (API) provider. It provides digital data pipelines, scalable architecture, and a suite of developer tools that enable financial institutions and developers to access and develop financial products that reach more individuals and businesses. It serves financial institutions and developers in Sub-Saharan Africa. It was founded in 2018 and is based in San Francisco, California.

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Stitch

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Inlaks is a leading Information Technology Solutions provider, operating in the information technology and infrastructure sectors. The company offers a range of services including core banking applications, agency banking, fraud management, cybersecurity, cloud services, data center operation, and enterprise risk management. These services primarily cater to the financial institutions across Africa. It was founded in 1982 and is based in Lagos, Nigeria.

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Software Group is a global technology company that specializes in digitalization and integration solutions within the financial services industry. The company offers a range of solutions including digital banking platforms, mobile wallets, agency banking, and digital insurance platforms, all aimed at facilitating digital transformation, extending outreach, and improving operational efficiency for financial service providers. It primarily serves sectors such as banks, insurance companies, microfinance institutions, government entities, and telecommunications companies. It was founded in 2009 and is based in Sofia, Bulgaria.

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