Klump, Nigerian BNPL fintech, announces shutdown after five years
Restructuring · announced$1.2mMonday 26 October 2026
Nigerian buy-now-pay-later startup Klump has shut down after five years, announced by co-founders Celestine Omin and Olufunbi Falayi in a farewell note on 25 October. The company had raised about $1.2 million and said it had declined an acquisition offer received earlier this year, citing difficulty securing lending capital and slow bank integrations.
The exit of a digital lender shows how hard it is for BNPL models to secure bank funding and partner integrations in Nigeria.
Nigeria-focused fintech OPay sold 16 million American depositary shares at $19 each, raising $300 million and valuing the company at about $4 billion. It rang the NYSE opening bell, but ThisDay reports that trading was temporarily held over an outstanding regulatory clarification in a foreign jurisdiction.
The 2026 Access to Financial Services in Nigeria survey finds 64.4% of adults use digital financial services. The financially excluded share fell to 21% from 26% in 2023.
Mastercard, with Interswitch, has enabled eligible Mastercard cardholders in Nigeria to pay with Google Pay on Android devices. The launch extends contactless digital payment options for Nigerian consumers.
UBA says it is the first to enable Google Pay for eligible Visa and Mastercard users. The move extends mobile wallet payments to its eligible card holders.
LemFi, a fintech serving over two million customers, is extending beyond international transfers into savings, credit and eSIM products. The move targets migrants' financing gaps.
