C-One To Acquire Bankly Microfinance Bank

...to restore Stability and Accelerate Growth

C-One Ventures Platform (C-One) today announced it has entered into an agreement to invest and acquire the licences, technology and select assets of the Nigerian operations of Bankly -a licensed microfinance bank and fintech leader known for bridging financial access gaps across Nigeria’s informal economy.

The deal which is subject to regulatory approvals including from the Central Bank of Nigeria, reflects C‑One’s
commitment to ensuring stability, protecting customers, and building a more resilient financial services platform. Upon completion, it will see Bankly’s services and talent integrated with complementary offerings
from other companies within the C-One ventures portfolio.

“We believe financial services should be simple, affordable and accessible to everyone,” said a representative
of C-One. “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.”

The investment from C-One when finalised, will prioritise the immediate resolution of customer obligations, stabilisation of operations, and strategic integration of Bankly’s technology into its broader financial services ecosystem. The transaction structure involves a modest cash consideration, ensuring a focus on sustainable growth and customer protection.

“Restoring customer confidence and ensuring operational resilience are our immediate priorities. We are
committed to scaling Bankly’s vision while delivering lasting value to our community” added the rep.

Founded in 2018, Bankly has been instrumental in advancing financial inclusion, serving Nigerians through innovative savings, payments, and credit solutions. However, in recent times, it has faced significant liquidity
constraints and operational disruptions, including delays in customer withdrawals and reduced service availability.

As part of the acquisition, C-One will build on Bankly’s foundation, ensuring continuity while investing in long-term growth. Bankly’s Co-founder, Tomilola Majekodunmi, will serve in an advisory capacity ensuring continuity and long-term success.

Speaking on the development, Majekodunmi said, “We are immensely proud of the impact we have made over the years. 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.”

With Bankly being part of its platform, C-One is further expanding its reach in grassroots financial services, scaling impact and building resilient solutions for real people in real communities.