Female-Focused Fintech, Herconomy, Hits $300,000 In Seed Funding Round
Herconomy, a female-focused fintech startup based in Lagos, Nigeria, has hit its goal of $300,000 in a seed funding round.
This was announced via an Instagram reel yesterday, where it also revealed that Herconomy is on its way to build the first bank in Nigeria for women.
Herconomy was founded by Ife Durosinmi-Etti and originally started as a community of women in finance known as AGS Tribe. Towards the end of 2021, it evolved into a startup offering products and services to encourage women to invest, network, save and earn money.
In an interview granted to Tech Cabal, Herconomy's CTO Rahmat Lasisi said, “Our mission is to empower women in Nigeria and beyond to be financially independent, thereby contributing to the socio-economic development of their ecosystem. This is in line with our vision to empower one million women by the year 2025.”
Some of their products include Herconomy Vault, Herconomy Float and Herconomy Plans. They also started a campaign called "One Woman Bring One", where women are encouraged to bring other women who shall save, invest and join the Herconomy community.
In December 2021, the company announced the close of a $600,000 pre-seed round to expand the product offerings on its platform.