What is Duplo?
Headquartered in Lagos, Nigeria, Duplo operates as a specialized business-to-business payments platform designed to digitize and automate the often cumbersome accounts payable and receivable processes for enterprises. By providing a robust digital infrastructure, the company addresses critical friction points in commercial transactions, such as manual invoicing, reconciliation delays, and fragmented payment channels. Its market position is defined by its focus on the unique requirements of African businesses, offering a scalable solution that integrates seamlessly into existing enterprise resource planning systems. As the digital economy in Africa continues to accelerate, Duplo serves as a vital intermediary, facilitating secure, efficient, and transparent financial exchanges between vendors and their corporate clients.
How much funding has Duplo raised?
Duplo has raised a total of $5.6M across 2 funding rounds:
Other Financing Round
$1.3M
Angel/Seed
$4.3M
Other Financing Round (2022): $1.3M with participation from MyAsiaVc, Oui Capital, Abdul Hassan, Olugbenga Agboola, and Y Combinator
Angel/Seed (2022): $4.3M led by Commerce Ventures, Liquid 2 Ventures, Soma Capital, Tribe Capital, and Basecamp Business
Key Investors in Duplo
Commerce Ventures
Commerce Ventures is an investment firm that partners with entrepreneurs from diverse backgrounds to build the infrastructure for future industries in retail and financial services.
Liquid 2 Ventures
Liquid 2 Ventures is an investment firm that supports exceptional founders in building lasting companies through experience, community, and capital, focusing on early-stage opportunities.
Soma Capital
Soma Capital is focused on building deep relationships with exceptional individuals who are driving progress in humanity through a portfolio of innovative startups.
What's next for Duplo?
With the recent influx of capital, Duplo is expected to prioritize the scaling of its core payment processing engine and the expansion of its product suite to include more sophisticated financial management tools. The strategic focus will likely shift toward deepening market penetration within Nigeria while exploring cross-border payment capabilities to support the growing needs of regional enterprises. Furthermore, the company is poised to leverage its network of high-profile investors to refine its operational efficiency and strengthen its competitive moat. As Duplo continues to evolve, the emphasis will remain on driving adoption among mid-to-large scale enterprises, ultimately aiming to become the primary financial operating system for B2B commerce in the region.
See full Duplo company page
