Online Loan Lending Startup, Onefi Acquires Fintech Company Amplify

Looking for job? your search ends here! Visit  to apply now OR Send us a WhatsApp Message here!

Online Loan Lending Startup Onefi Acquires Fintech Company Amplify
Online Loan Lending Startup Onefi Acquires Fintech Company Amplify

Online Loan Lending Startup, Onefi Acquires Fintech Company Amplify – One Finance Limited (OneFi), a consumer lending platform provider, acquired Amplified Payments Ltd (Amplify), a Lagos, Nigeria-based fintech company that builds and facilitates payment solutions and digital financial transactions for an undisclosed sum.

The acquisition will enable OneFi to boost its financial services offering, as the company adds Amplify’s assets, tradements and flagship products, AmplifyPay and mTransfers, to its portfolio.

Co-founded in 2015 by Segun Adeyemi and Maxwell Obi, who first met as Entrepreneurs-in-Training at MEST Africa’s Entrepreneurial Training Program in Accra, Ghana, Amplify has become one of Nigeria’s leading online recurring payment processors, supporting over 1,000 merchants and facilitating digital transactions for four of the country’s largest banks.

The company’s core products are:– AmplifyPay – a payment gateway specialising in recurring transactions – and

mTransfers – a keyboard banking solution that enables consumers to conduct bill and P2P payments in any chat app. Amplify’s client base includes GTBank, Zenith Bank, Whogohost, Credit Direct Ltd, Cloud Cover Distribution, Fidelity Bank, Sterling Bank, amongst others.

As a result of the acquisition, Amplify co-founder and CTO, Maxwell Obi, will join the OneFi team to oversee the payments direction of the company, whilst co-founder and CEO, Segun Adeyemi, will depart as he pursues new ventures.

Launched in 2016 by Nigerian finance entrepreneurs Chijioke and Ngozi Dozie, OneFi provides Paylater, a consumer-facing lending platform which gives access to free loans without the need for human intervention or bias in decision making. Through its app, which has been downloaded over one million times, Paylater has deployed over $50M across 750,000 loans, approving over 1,500 loans a day at an average of $80 per loan.

In late 2018, the company became the first African fintech platform to secure a credit rating. The acquisition of Amplify will see the platform pivot to a one-stop-shop offering additional products such as savings, bill payments and credit reporting.

Do you need high paying jobs in Nigeria? If yes Submit your CV here and stand a chance of landing your dream job!

About Haruna Magaji 2482 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

1 Comment


    Have you had about *LAVITA RICCA INVESTMENT* ? am not talking about MMM or Ponzi SCHEME
    lavita is a matrix system which give you DOUBLE of your CAPITAL back in (45 min) after registration….

    CONTACT:- 09036369810.



    NOTE: we credit your account after 45min after registeration.

    Lavita Ricca International is a company duely registered under the Coporate Affairs Commission of Nigeria and certified fraud free to do business in Nigeria by the Economic Financial Crimes Commission (EFCC). This is a Nigerian network marketing company founded by Mr. Ifeanyi Alex Monye with it’s Head Quarter’s. The company takes pride in the fact that it stands out amongst other network marketing companies. It has the best compensation plan, affordable and effective services, systems that keeps her customers coming back for more. When you join this company, you get more than their outstanding services.


    HOT LINE:+2349036369810

    ITS SIMPLE HERE !!!!!!!
    We trade with hard currency here like bit coin we make 3tripple of your donation and send you you two part and we benefit one part Example if you invest with 20k within 45mins we make profit of 60k then send 40k to you then profit 20k. This is not mmm where they merge people to donate for each other
    You pay directly to us and we credit you directly.


    Note:you get credited in less than 45mins.


    NOTE: You can finish reading this and decide not to take the necessary actions, but the next time you want to complain about not having money, just know that you are on your own problem. 🙏..

Leave a Reply

Your email address will not be published.