How TeamApt got inside Nigeria’s payment rails

When Tosin Eniolorunda brought Dennis Ajalie into TeamApt as a senior business development officer in 2018, the company was still building software for financial institutions.
TeamApt had, in Ajalie’s words, “two and a half products,” which were mostly focused on helping banks reconcile the messy reality of manual tracking. 
The year Ajalie joined TeamApt, the fintech sector in Nigeria was still taking shape. That year, startups in the space raised a record $103.4 million , but regulation remained uncertain. A draft policy from the Central Bank of Nigeria (CBN) proposed new licensing requirements that signalled tighter oversight and higher capital thresholds for operators.
Even t...