By JKNewsMedia
BANKLY’s STRUGGLE to maintain liquidity and serve customers reliably has prompted a significant intervention from C-One Ventures Platform, which has agreed to acquire the Nigerian microfinance bank’s licences, technology, and key operational assets.
The deal marks a critical juncture for the embattled fintech, once hailed for driving financial inclusion in Nigeria’s informal economy.
Subject to regulatory approval, including from the Central Bank of Nigeria, the acquisition aims to stabilise Bankly’s services and restore confidence among its users following recent operational disruptions.
For many, those disruptions included delayed withdrawals and restricted access to essential services, leaving thousands of informal traders and low-income customers in limbo.
C-One’s entry signals a targeted recovery strategy.
Its immediate focus will be resolving outstanding customer obligations, steadying day-to-day operations, and weaving Bankly’s digital infrastructure into its wider portfolio of financial services businesses.
This includes aligning the fintech’s grassroots customer network with C-One’s broader technology platforms, offering new potential to reach underserved populations across Nigeria.
“We believe financial services should be simple, affordable and accessible to everyone,” a C-One representative said.
“Bringing Bankly into our ecosystem allows for a combination of community networks with our powerful digital infrastructure to expand access to finance for underserved communities and drive real economic participation.”
Founded in 2018, Bankly made early inroads by delivering savings, payment and credit solutions to financially excluded Nigerians.
Its growth was propelled by its on-the-ground agent network and mobile-first offerings tailored for informal workers, market women and small business owners typically sidelined by traditional banks.
Yet financial turbulence in recent months exposed structural weaknesses, ultimately prompting a need for external support.
The transaction, described as involving a modest cash consideration, is less about financial gain than long-term sustainability. C-One said it will invest in growth while ensuring customers are protected during the transition.
Integration efforts will begin once the acquisition closes, with Bankly’s operations and staff absorbed into C-One’s ecosystem.
In a show of continuity, Bankly Co-founder Tomilola Majekodunmi will take on an advisory role within the new structure.
“We are immensely proud of the impact we have made over the years,” she said.
“Bankly was built to serve people who were left out of the formal financial system and with C-One’s backing, we have an opportunity to build on this foundation, address recent challenges, and expand our reach to even more communities.”
C-One’s broader mission spans education, healthcare, commerce, and finance, with a focus on scaling inclusive technologies across Africa.
By adding Bankly to its growing portfolio, the firm reinforces its commitment to tackling inequality in financial access while aiming to strengthen operational resilience within its investments.
The acquisition comes at a time when Nigeria’s fintech space is both booming and burdened, with rising demand often met by fragile infrastructure.
For Bankly’s customers and staff, a statement issued notes that the rescue could mark a new beginning—one grounded in renewed trust, broader support, and digital-first financial solutions designed for the people who need them most.
