BAS Group Acquires Majority Stake in Zuvy to Expand SME Lending Footprint - Tech

BAS Group Acquires Majority Stake in Zuvy to Expand SME Lending Footprint - Tech

BAS Group, a Nigerian investment company with a growing appetite for underserved sectors, has acquired a controlling stake in Zuvy Technologies, an invoice financing startup based in Lagos.  The cash deal, which gives BAS Group over 50% ownership, will enable the company to strengthen its presence in the country’s fragmented small and medium enterprise (SME) lending market. All of Zuvy’s institutional investors have exited. Co-founders Angel Onu…

BAS Group acquires Zuvy to deepen SME lending in Nigeria

BAS Group, a Nigerian investment company that controls businesses in healthcare, micro-insurance, and finance, has acquired a majority stake in Zuvy Technologies, a Lagos-based startup that provides short-term financing to small businesses through invoice discounting. The value of the all-cash deal was not disclosed, but BAS now owns more than 50% of the company and has assumed operational control. As part of the transaction, all institutional i…

BAS Group acquires majority stake in Nigerian fintech Zuvy

BAS Group acquires a majority stake in Nigerian fintech Zuvy; founders exit to focus on YC-backed healthtech startup Avelis Health.