# Duplo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/duplo

- Industry: Business Support Services
- Headquarters: Lagos, Nigeria
- Website: www.tryduplo.com
- Total disclosed funding: $5.6M
- Latest round: Seed (Aug 31, 2022)
- Investors on record: 10

## About

Based in Nigeria and founded in 2021 by CEO Yele Oyekola and CPO Tunde Akinnuwa, Duplo Limited operates as a fintech company that provides payments products for B2B businesses. In February 2022, Duplo Limited raised USD 1.3 million in a pre-seed round led by new investor Oui Capital, with participation from other new investors Flutterwave Inc., Mono, MyAsia VC, and Y Combinator. As of February 2022, the company has served more than 20 enterprise businesses and processed over USD 380,000.

Duplo Limited enables distributors to create unique virtual accounts for retailers and agents to make real-time payments or bank transfers while the platform helps to reconcile their books automatically. The platform also helps companies to generate or pay invoices, offers credit to their business customers, and provides a dashboard to attribute payment flows to a particular customer, retailer, or location.

Duplo Limited generates revenue by charging a 0.75% fee for every transaction performed on its platform. 

Duplo Limited will use the pre-seed funding to improve its product, develop its technology, build out its sales capacity, and move into other sectors.

## Funding rounds

- Seed, Aug 31, 2022, $4.3M — Y Combinator, Commerce Ventures, Alumni Ventures Group, Liquid 2 Ventures, Tribe Capital, Oui Capital, Soma Capital
- Seed, Feb 10, 2022, $1.3M — Y Combinator, Alumni Ventures Group, Flutterwave Inc., Oui Capital, MyAsia VC, Mono Colombia SAS

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Seed
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Seed
- Flutterwave Inc. — Seed
- Oui Capital (https://capitalatlas.ai/funds/oui-capital) — Seed
- MyAsia VC — Seed
- Mono Colombia SAS — Seed
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Seed
- Liquid 2 Ventures (https://capitalatlas.ai/funds/liquid-2-ventures) — Seed
- Tribe Capital (https://capitalatlas.ai/funds/tribe-capital) — Seed
- Soma Capital — Seed