TLG Capital, a pan-African alternative investments firm, has partnered OnePipe to provide credit services to the informal sector in Nigeria.
The firm provided up to N2.25 billion in a collateralised credit facility for OnePipe, a Nigerian financial infrastructure company that uses its technology platforms to enable traditional businesses bring financial services into their operations.
The deal was completed by the TLG Africa Growth Impact Fund (AGIF) and represents TLG Capital’s 34th investment. The investment will be used to provide inventory finance to small shops in Nigeria.
OnePipe is a fast-growing financial infrastructure company that enables merchants to access goods on credit from larger distributors who work with OnePipe. The company has built an extensive network of field officers and partners, including banks, and payment service providers.
CEO of OnePipe, Ope Adeoye, said: “TLG’s extensive experience structuring debt in Nigeria and their deep network across Africa, particularly in venture, made them the partner of choice as we look to scale. TLG is our first debt partner and has been a powerful resource in planning our growth and balance sheet strategy. Through this partnership, we’re looking to build the infrastructure to provide credit and payment services to the two-thirds of Nigerian business owners who don’t have access to effective and practical banking services.”