Cascador · Apr 2026
Profile/impact story noting that Lenco expanded in 2025 across Nigeria, Zambia, and Malawi and launched Glep, an AI-native spend management platform for business decision-making.
Pan-African digital bank for Africa's 50m businesses
Company research
Public company, workplace, funding, and market signals
Overview
Pan-African business banking and expense management platform for African companies, offering multi-currency accounts, payments, cards, payroll, cross-border transfers, API access, and spend controls.
Primary product
Business banking and expense management platform for African businesses
Founded
2021
Headquarters
Lagos, Nigeria
Team size
11-50
Industry
Financial Services
Sub-industry
Fintech / business banking / Banking as a Service
Offices
Lagos, Nigeria (HQ)
San Francisco, California, United States
Nairobi, Kenya
Business model
digital banking
expense management
payments
cross-border payments
banking-as-a-service
API services
Funding
Stage
Seed
Total raised
$2.1M
Latest round
Seed · Mar 2022
Latest amount
$2M
People & investors
Leadership
Co-Founder & CEO
Co-Founder & COO
Co-Founder & Engineering Lead
Co-Founder & CTO
Michael Opara
Head of Finance
Patience Ayoola
Head of Customer Success
Alexander Asomba
Head of Card Services
Olanrewaju Olukanni
Lead Designer
Babajide Sunmonu
Infrastructure Lead
Work & culture
Customer-focused, growth-oriented fintech culture centered on helping African businesses operate more efficiently, with recurring educational content, webinars, and product-led operational support.
Product & market
Pricing
Free business current accounts; public pricing is not fully detailed, but some services appear usage-based (for example SMS alerts) and product-led fees likely apply for cards/payments/API usage.
Differentiators
- —Multi-currency business banking for African markets
- —Cross-border payments with local market presence
- —Team banking with custom access controls
- —Expense management, cards, payroll, and payments in one platform
- —API access for automating banking workflows
- —Local partnership/compliance model in Zambia via BroadPay
Technology
Zendesk
Intercom
HubSpot
Salesforce
WhatsApp
martech
microservices
PCI
JavaScript
NestJS
RESTful APIs
Git
CI/CD
SQL/NoSQL
developer API
virtual accounts
bill payments
Customers
African businesses
startups
SMEs
retail outlets
hospitality businesses
enterprise clients
businesses in Nigeria
businesses in Zambia
businesses in Malawi
Competitors
Brex
Mercury
Tide
Scale & contact
Estimated revenue
about $9.4M estimated ARR
Estimated monthly visits
7.7K
Traffic estimate as of Jul 2026
Latest news
Independent Newspaper Nigeria · Apr 2025
Reports the launch of a POS product in Zambia, following earlier market entry and emphasizing multi-user accounts, corporate cards, expense management, and cross-border payments.
Lenco Blog · Feb 2025
Official blog post describing the Malawi Kwacha account offering and the company’s cross-border payments positioning in Zambia and Malawi.
Lenco Blog · Nov 2023
Official product update announcing business cards and describing spend-control and convenience features for business finance management.
Lenco Blog · Oct 2023
Official blog post on team banking and custom access controls for collaborative account management.
Jobs and careers at Lenco
0 jobs at Lenco
No open positions
Check back later for new openings