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Storspay Raises $320k, Selected For Techstars NYC

The Nigerian fintech startup has been selected to participate in the Techstars NYC accelerator, backed by JP Morgan Accelerator, a 13-week fundraising and mentorship program for startups seeking to accelerate their growth and raise their next round of funding.

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Storspay has raised a US$320,000 funding round and has been selected to participate in the Techstars NYC accelerator, backed by JP Morgan Accelerator.

The company said it had developed a decentralized retail lending infrastructure platform for the Internet, connecting retail investors seeking alternative asset investment opportunities with small businesses globally needing more affordable capital to grow their businesses.

This forms part of a US$320,000 round, which will help the startup scale its platform. Storspay aims to improve the financial well-being of business owners worldwide by providing a decentralized lending infrastructure for the Internet that enables them to make more money by exchanging capital across borders instantly and securely to finance working capital inventory.

Sam Alonge, CEO and founder of Storspay: “At Storspay, our mission is to enable economic well-being for everyday people worldwide. Inflation continues to eat away at the savings of ordinary people in North America. Small business owners in emerging economies continue to face the daily frustrations of not finding the capital they need at affordable rates to grow their businesses successfully.”

“We believe at Storspay that we can make an outsized economic and social impact by building a decentralized retail lending platform that uses stablecoins to share prosperity worldwide. We will enable ordinary people on one side of the world to support other ordinary people in another part of the world and make more money while at it.”



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