Nigeria’s fintech startup Bloc acquires payments company Orchestrate

Nigeria’s fintech startup Bloc acquires payments company Orchestrate

Bloc, a Nigerian full-service fintech and Banking-as-a-Service (BaaS) infrastructure provider, has announced the acquisition of Getwallets, the wallets-as-a-service provider that only recently pivoted to become payments orchestration company Orchestrate.

The 100% acquisition includes a combined cash and equity deal, with the newest addition to the Bloc family set to remain a standalone entity still led by CEO & founder, Jerry Enebeli.

With this strategic acquisition, Bloc will be able to focus its core product strategy on delivering seamless BaaS & banking services, while Orchestrate leads its fintech Infrastructure with its proprietary payments orchestration API.

Founded in 2021, Bloc enables businesses to provide a range of fintech solutions to their customers, through an exhaustive set of building blocks – infrastructure, licenses, compliance, and capital – that allows them to increase the value of these solutions to their stakeholders, whether they be customers, investors or employees.

In just the past year, Bloc has processed more than US$30 million through its bill payments API alone, and recently launched its SuperAgency tool, which allows licensed companies to offer agency banking services.

Its acquisition of Orchestrate will further boost its capacity to offer fintech infrastructure such as online payments, subscription management, BNPL payment infrastructure, virtual wallets, bill payments and invoicing in its Fintech-as-a-Service suite of APIs.

Commenting on the acquisition, Edmund Olotu, Founder of Bloc said: “We are proud of our input in helping shape the African fintech space and excited to welcome the Orchestrate team into the Bloc family. Part of our vision has always been to empower businesses of all sizes to offer seamless payment solutions to their customers, which is essential not just to the experience of the end user but also to the sector’s growth.”

“Jerry and his team have built an incredible platform that is a great fit with what we were looking to add to our suite of services so it made sense to acquire their proven expertise rather than building our own platform from scratch. This is an exciting evolution for both businesses as we look to grow and build even more solutions that ultimately supports the growth of African tech businesses in the coming years.” he added.

Founder and CEO of Orchestrate, Jerry Enebeli said: “We are thrilled to bring our technology and know-how to the already incredible Bloc team. It was clear that our business growth goals aligned and that we could mutually benefit from combining our talent, resources and expertise to create a unique infrastructure that can power African fintech. We’re looking forward to working together to close the fragmented gaps in cross-platform payments and powering many more businesses to scale their markets, whether in Africa or globally.”

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