Avanage Nigeria Limited

Avanage Nigeria Limited is a fintech startup based in Lagos, Nigeria, specializing in ATM outsourcing. Founded in 2012, the company's key focus is on deploying 4,000 Advanced Technology (Cash Deposit/Recycling) ATMs across Nigeria, aiming to become the nation's largest ATM outsourcing service provider to the Nigerian banking industry by 2015. In pursuit of this goal, Avanage has formed strategic partnerships with leading international technology providers, including GRGBanking, the largest ATM & Cash Processing Solution Manufacturer in China. The company's mission involves overhauling the aging and inefficient ATM fleet of Nigeria's leading banks, while also establishing a nationwide shared service infrastructure platform for Integrated Intelligent Cash Collection and Protection. Avanage ultimately seeks to serve as the single point of contact for ATM outsourcing services, offering bundled solutions that include ATMs, hybrid (solar) power, and cash protection outsourcing. This comprehensive approach aims to optimize ATM availability and cost efficiencies for Nigerian banks, aligning with regulatory and customer demands for enhanced services and capacity. In the evolving financial services industry, Avanage's innovative approach and strategic partnerships position it well to address the changing needs of the Nigerian banking sector. With its ambitious infrastructure rollout and commitment to advanced technologies, the company presents an investment opportunity with potential for significant impact on the local financial landscape. While details of its latest investment and investors are currently unavailable, Avanage's strategic vision and focus on addressing critical industry challenges make it an intriguing prospect for potential investors seeking exposure to the Nigerian fintech market.