# Awabah Nigeria

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/awabah-nigeria

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.awabahng.com/
- Total disclosed funding: $0.2M
- Latest round: Angel (Jul 1, 2021)
- Investors on record: 3

## About

Based in Lagos, Nigeria, and founded in 2021, Awabah Nigeria operates as a financial services company that offers a digital pension platform for enabling access to financial security for unbanked and underbanked individuals to help them outside of the regular 9-5 work model plan towards a financially safe and secure future. In September 2022, Awabah Nigeria raised grant funding from Google for Startups. As of 2024, the company is led by its CEO and co-founder, Tunji Andrews.

The company offers its core product to meet the financial needs of its customers, namely Valubah, a financial wellness service that delivers a package of advantages that focus on protecting the financial future of Nigeria's informal sector workers. Valubah is divided into two categories: Valubah Premium and Valubah Gold, which comprises health insurance, life insurance, micro-pension remittance, and accident coverage for a reasonable monthly charge starting at NGN 2,000. In addition, Awabah Nigeria offers PenPay, which is a digital tool designed to streamline pension remittance processes. This payroll plugin solution facilitates real-time pension payments and serves annuity customers. PenPay is accessible via its website, USSD code, and mobile apps available on both the Google Play Store and Apple Store. The firm partners with financial institutions such as Leadway, Stanbic, Access Bank, ARM, Tangeria, PenOp, Palfedility, Vertais, FCMB, Wellacover, and others.

## Funding rounds

- Angel, Jul 1, 2021, $0.2M — Correlation Ventures, ODBA, CoVentures

## Investors

- Correlation Ventures (https://capitalatlas.ai/funds/correlation-ventures) — Angel
- ODBA (https://capitalatlas.ai/funds/odba) — Angel
- CoVentures (https://capitalatlas.ai/funds/coventures) — Angel