Nigerian investment firm with interests in technology and finance, C-One Ventures, has acquired Bankly, a licensed microfinance institution known for serving Nigeria’s unbanked and underbanked communities.

The acquisition, announced this week, includes Bankly’s operational assets, regulatory licenses, and entire team. These will be integrated into C-One’s expanding fintech ecosystem, which already includes Fulcrum, a supply chain financing platform; GetPayed, a payments and banking app; and gomoney, a digital bank.

Founded in 2018, Bankly has built a strong reputation for digitising traditional savings systems like ajo and esusu, especially in rural and low-income communities. The company, which raised $2 million in seed funding in 2021, claims a user base of over 2 million customers and a nationwide network of more than 50,000 agents.

The acquisition signals a strategic consolidation of C-One’s financial technology offerings, aiming to provide end-to-end digital financial services to individuals and small businesses across Nigeria.

As part of the transition, a structural reorganisation is underway to align Bankly with its new parent company. Bankly’s CEO and co-founder, Tomilola Majekodunmi, will step down from day-to-day operations but will remain involved in an advisory capacity.

“I am immensely proud of what we have achieved at Bankly over the last six years,” Majekodunmi said in a statement. “Bankly was founded with a mission to drive financial inclusion to the last mile, and we have certainly made significant progress on that front.”

While the financial terms of the deal were not disclosed, C-One Ventures has yet to share additional details on how Bankly will operate under its new ownership.