Transtura, an online mobility company based in Nigeria has acquired Wàzomoney in a bid to launch a payment solution. As a FinTech startup, Wàzó enables users to initiate quick and easy payment of scheduled bills through an automated system. As a mobility company, Transtura aims to give customers or commuters an excellent experience by including a cashless payment on its platform.
The act of moving from one location to another remains a core characteristic of life, as it is necessary for achieving or completing our daily goals. Companies like Transtura envision making this vital aspect of living more convenient. Acquiring Wazomoney brings Transtura a step closer to this goal. As the startup can now explore the strength of Financial Technology services through payment solutions for its marketplace or platform. For instance, customers will be able to make payments for rides, items purchased, renewal of expired documents, insurance and so much more all on its platform.
A country like Nigeria whose public operations are often unreliable, Transtura is changing the narrative using FinTech solutions. Setting a new bar in the standards of operation in the transport industry. With eyes set towards becoming Africa's number one choice App, Transtura is setting up in the right direction as the fintech ecosystem carries the capacity to push growth in profits by providing cross-border access to reaching a wide range of users across the African continent.
Nigeria in focus:
Population: 206.1 million in 2020 as compared to 201 million in 2019
GDP: $432.3 billion compared to $448.1 billion in 2019
GDP per capita: $2,097 in 2020 compared to $2,229 in 2019