One Finance Limited (OneFi) has acquired Amplified Payments Limited (Amplify), a company that builds and facilitates payment solutions and digital financial transactions for an undisclosed fee.
Amplify has grown to be a force to reckon with in the investment sector. The company currently supports over 1,000 merchants and facilitating digital transactions for four of the Nigeria’s top banks.
Among the company’s core products are AmplifyPay – a payment gateway specializing in recurring transactions and mTransfers – a keyboard banking solution that enables consumers to conduct bill and P2P payments in any chat app.
As a result of the acquisition, Amplify co-founder and CTO, Maxwell Obi, will join the OneFi team to oversee the payments direction of the company, whilst co-founder and CEO, Segun Adeyemi, will depart as he pursues new ventures.