Anchor celebrates third anniversary with $2.5 billion processed and key regulatory licences

Anchor, a leading African banking-as-a-service provider, marks its third anniversary. Its platform enables fintechs and other companies looking to embed financial services to issue currency accounts, facilitate transfers, and issue branded cards, among other services.

​​Founded in August 2022, Anchor is on a mission to empower businesses to launch and scale financial products faster, more reliably, and fully compliant from day one.

“Anchor was founded to remove the barriers holding back financial access in Africa”, says Segun Adeyemi, CEO & Co-founder of Anchor.

Since its launch, it has grown into a trusted partner for over 300 businesses, including MTN’s fintech arm (MoMo). These businesses cut across sectors like remittance (Veloremit), expense management (Bujeti), trade & commerce (Midddleman), consumer finance (Kredete), and digital wallets (Timon).

See also: Timon comes out of stealth with 20,000 users

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“Partnering with Anchor has been a game-changer for us. Anchor is smooth, very responsive, and it feels like they are on this journey with you,” Adeola Owosho, Founder of Midddleman, said in a statement seen by Condia.

The company has also secured key banking and remittance licences, like the Central Bank of Nigeria’s microfinance bank and International Money Transfer Operator (IMTO) licence, and foreign money service business (MSB) licences.

“Three years later, we’re proud of how far we’ve come, but even more excited about what lies ahead. Our mission remains clear: to be the rails powering Africa’s financial future,” says Adeyemi.

As the company enters its next chapter, it’s turning its focus to pan-African and global expansion, new product launch and improving its existing developer-first infrastructure.