About Duplo
Duplo is a company based in Lagos (Nigeria) founded in 2021 by Tunde Akinnuwa, Yele W Oyekola, and Emeka Okwuagwu.. Duplo has raised $5.6 million across 2 funding rounds from investors including Tribe Capital, Soma Capital and Liquid 2 Ventures. Duplo offers products and services including Expense Management, Global Payments, Vendor Management, Approval Workflows, and Bulk Payments. Duplo operates in a competitive market with competitors including Gamut Infosystems Limited, Lightyear, Decision Engines, difacturo and EasyEBilling, among others.
- Headquarter Lagos, Nigeria
- Founders Tunde Akinnuwa, Yele W Oyekola, Emeka Okwuagwu
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Sectors
TechnologyRetail Financial Services
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Email
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Phone
*********
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Website
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Social
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- Legal Name Duplo Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5.6 M (USD)
in 2 rounds
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Latest Funding Round
$4.3 M (USD), Seed
Aug 31, 2022
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Investors
Tribe Capital
& 10 more
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Employee Count
Employee Count
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Products & Services of Duplo
Duplo offers a comprehensive portfolio of products and services, including Expense Management, Global Payments, Vendor Management, Approval Workflows, and Bulk Payments. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates tracking and optimization of business expenditures.
Facilitates local and international payment collections.
Handles bill approvals and payments for suppliers.
Simplifies and accelerates business approval processes.
Enables payments to multiple recipients at once.
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Funding Insights of Duplo
Duplo has successfully raised a total of $5.6M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $4.3 million completed in August 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $4.3M
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First Round
First Round
(10 Feb 2022)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2022 | Amount | Seed - Duplo | Valuation | Soma Capital , Liquid 2 Ventures | |
| Feb, 2022 | Amount | Seed - Duplo | Valuation | Oui Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Duplo
Duplo has secured backing from 11 investors, including venture fund and angel investors. Prominent investors backing the company include Tribe Capital, Soma Capital and Liquid 2 Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage investments are provided by Soma Capital to startups.
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Founded Year | Domain | Location | |
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Venture capital fund focused on seed-stage investment in multiple sectors
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Founded Year | Domain | Location | |
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Investments are made in global seed and early-stage startups.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Duplo
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Duplo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Duplo Comparisons
Competitors of Duplo
Duplo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Gamut Infosystems Limited, Lightyear, Decision Engines, difacturo and EasyEBilling, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Accounting and ERP management solutions are provided for businesses.
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| domain | founded_year | HQ Location |
Cloud-based accounts payable management software is offered for businesses.
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| domain | founded_year | HQ Location |
An AI-based platform for end-to-end process automation is provided.
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| domain | founded_year | HQ Location |
Provides electronic invoicing software for efficient business operations.
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| domain | founded_year | HQ Location |
Provides billing software for accounting, inventory, invoicing, and customer management needs.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Duplo
Frequently Asked Questions about Duplo
When was Duplo founded?
Duplo was founded in 2021 and raised its 1st funding round 1 year after it was founded.
Where is Duplo located?
Duplo is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Who is the current CEO of Duplo?
Yele W Oyekola is the current CEO of Duplo. They have also founded this company.
Is Duplo a funded company?
Duplo is a funded company, having raised a total of $5.6M across 2 funding rounds to date. The company's 1st funding round was a Seed of $1.3M, raised on Feb 10, 2022.
What does Duplo do?
Duplo was founded in 2021 in Lagos, Nigeria, within the fintech sector. API-based solutions are provided to financial institutions and banks, enabling digital banking services for end customers. Operations include digital wallets for income and expense management, receivables automation, and NFC-enabled closed-loop cards for payments. The company focuses on B2B payment infrastructure across African markets.
Who are the top competitors of Duplo?
Duplo's top competitors include Gamut Infosystems Limited, Lightyear and Decision Engines.
What products or services does Duplo offer?
Duplo offers Expense Management, Global Payments, Vendor Management, Approval Workflows, and Bulk Payments.
Who are Duplo's investors?
Duplo has 11 investors. Key investors include Tribe Capital, Soma Capital, Liquid 2 Ventures, Commerce Ventures, and Y Combinator.