• Latest
  • Trending
Nigerian Agri-fintech company Tingo seeks $500M Expansion funds, plans NYSE listing

Nigerian Agri-fintech company Tingo seeks $500M Expansion funds, plans NYSE listing

February 22, 2022
Innoson, Nigerian automaker, unveils plan to establish CNG assembly plant

Innoson, Nigerian automaker, unveils plan to establish CNG assembly plant

October 16, 2025
Spotify testing ‘SongDNA’ to show everyone behind your songs

Spotify testing ‘SongDNA’ to show everyone behind your songs

October 16, 2025
$395mn submarine cable project, Medusa, begins deployment to link Europe to Africa

$395mn submarine cable project, Medusa, begins deployment to link Europe to Africa

October 16, 2025
Chari raises $12M, gets Morocco’s first VC-backed payment license

Chari raises $12M, gets Morocco’s first VC-backed payment license

October 16, 2025
NCBA unveils ConnectPlus to improve businesses in Kenya

NCBA unveils ConnectPlus to improve businesses in Kenya

October 16, 2025
Slack supercharges Slackbot with smarter AI capabilities

Slack supercharges Slackbot with smarter AI capabilities

October 16, 2025
Gemini AI now handles your Google Calendar meeting scheduling

Gemini AI now handles your Google Calendar meeting scheduling

October 16, 2025
Sun King, REA partner to boost access to clean energy

Sun King, REA partner to boost access to clean energy

October 16, 2025
ChatGPT to allow erotica for adult users, Sam Altman says

ChatGPT to allow erotica for adult users, Sam Altman says

October 16, 2025
UNILAG partners with OpenAI to bring first African academy to Lagos

UNILAG partners with OpenAI to bring first African academy to Lagos

October 16, 2025
How Nigerian innovators are transforming lecture notes for the digital age

How Nigerian innovators are transforming lecture notes for the digital age

October 16, 2025
PayTabs, Valu launch contactless payment system for Egyptian merchants

PayTabs, Valu launch contactless payment system for Egyptian merchants

October 15, 2025
Techpression
Advertisement
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
Friday, October 17, 2025
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

Nigerian Agri-fintech company Tingo seeks $500M Expansion funds, plans NYSE listing

Staff Writer by Staff Writer
February 22, 2022
in Africa Tech News, Editors Pick, Featured, Fintech, Startups
146 4
0
Nigerian Agri-fintech company Tingo seeks $500M Expansion funds, plans NYSE listing
465
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Tingo, a Nigerian Agriculture FinTech is seeking to raise $500 million funding — a combination of debt and equity financing through a private placement — to expand its operations across Africa.

As disclosed by the company’s CEO Dozy Mmbuosi, Tingo plans to acquire companies and expand infrastructure that will help it become a pan-African business, offering the same services as they are in Nigeria in other African countries. Mmbuosi also reveals that $100 million of these funds will be committed to increasing credit for women farmers across Africa.

Last year, the company affirms its stand in promoting women entrepreneurs and confirms that it has more than 4,000 women agents in Nigeria.

Mmbuosi hinted that the company is in communication with the New York Stock Exchange for listing within the first half of 2022.

RelatedPosts

Chari raises $12M, gets Morocco’s first VC-backed payment license

Chari raises $12M, gets Morocco’s first VC-backed payment license

October 16, 2025
GITEX Global connects thousands of investors, startups to $1.1 trillion investment pools

GITEX Global connects thousands of investors, startups to $1.1 trillion investment pools

October 15, 2025

Movandi closes $40m funding round to accelerate 5G and satcom footprint

October 15, 2025

Ghanaian Startup Affinity Africa surpasses 100,000 customer milestone

October 14, 2025
Load More

What You Should Know About Tingo

  • Tingo is an Agriculture-fintech company offering mobile devices as a service model which provides its customers with personal communications services (“PCS”) using GSM technology that is designed to meet the needs of individual consumers and businesses.
  • The company has a comprehensive Agri-Fintech and Agri-Marketplace ecosystem that caters for over 12 million rural farmers in villages across Nigeria, becoming a leading provider in Africa of such services over the long term.
  • Its platform NWASSA connects farmers with other players in the agricultural value chain and provides them with services like smartphone leasing, utility payments, bill pay, access to insurance and lending services. Another of its product — Tingo Pay — a payment mobile wallet that supports financial inclusion and delivers significant social impact for rural farmers.
  • As reported, the Tingo platform processes $4 billion transactions annually and in 2020, it boasted $594 million in revenue which makes the company one of the most valued fintech companies in Africa. It earns from the leases as well as commissions and fees from its other services.
  • Tingo is in partnership with Visa to provide digital cards to its customers for ease of transactions.

Making moves for listing in the New York Stock Exchange and expanding across Africa

Tingo started 2 decades ago as an agri-fintech and it’s eyeing to join rising startups that are benefiting from the increasing investor interest in Africa. The company which is valued at about $6.3 billion is targeting funding of $500 million USD to expand across Africa partly through acquisitions that will include commodities firms and a fintech says Mmbuosi.

Read Also : Nigerian Agency Banking Startup CrowdForce Raises $3.6M to Increase Financial Accessibility for Underserved Communities

Tingo has present in villages across Nigeria, with about 12 million mostly rural-farmer customers. Its primary business is to lease smartphones, which connect growers to access inputs, credit and markets for their produce via mobile-phone applications.

The company’s intention from the new financing is to double its agents’ network to 50,000 under a partnership with Visa International to provide access to digital payments in rural areas and expand its operations to at least 19 countries in the coming years.

“We plan to acquire companies and expand infrastructure that will position us to become a pan-African business, delivering the same services we’re delivering in Nigeria in many other countries,” Mmobuosi said. Talking about the partnership with Visa, he added that “Those with our smartphones will be able to access digital visa cards, not just the plastic ones”.

Read Also : Egypt’s digital investment platform Thndr raises $20 million in funding to develop and expand.

While working towards becoming a global company, it is pushing for a listing with NYSE. *“*We are working closely with the exchange and we believe the outcome will be positive.” says the CEO, Mmbuosi

Tags: FintechFundingNigerian startupTingo
Staff Writer

Staff Writer

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business
  • Home
  • About
  • Contact Us
  • Advert Rate
  • Terms & Conditions
  • Privacy Policy
  • SiteMap

© 2025 Techpression

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.