Company Overview
Developer of financial software designed to transform the payment acceptance market in sub-Saharan Africa. The company offers working capital requirements, consumer engagement, business support, an in-store consumer credit platform and hardware, serving a broad spectrum of merchants such as multi-nationals, independent retailers, entrepreneurs and informal traders.
Company History
Adumo was founded in 2018. Public founder information in the source set points to Paul Kent, Mathew Marsden. Its latest captured funding/news event in the source set was in 2024, recorded as M&A.
Key Facts
| Country | Nigeria |
| Founded | 2018 |
| Founders | Paul Kent, Mathew Marsden |
| Sector | Finance |
| Operational Status | Appears active |
| Latest Round | M&A, 2024, $96M |
| Total Disclosed Funding | $96M |
| Website | http://www.adumo.com/ |
Business Model
Adumo appears to operate a product-led business model in the Finance sector. Based on public descriptions, it generates value through technology-enabled services, software, marketplace access, operations, or financial infrastructure.
Products and Services
- Credit and lending tools
- Financial data services
- Business payments
- Risk or KYC workflows
Funding and Market Position
Public deal records in the source set show 1 disclosed funding event(s), with about $96M captured in total. The most recent event is recorded as M&A, 2024, $96M.
Contact Information
The most reliable public contact channel in the source set is the official website: http://www.adumo.com/. Public phone numbers and public support emails were not consistently available at scale, so the website/contact form is the best public route.
Company Location
Operational Status
Latest public funding/news source in 2024 suggests the startup was operating at that time. Status recorded here is a best-effort assessment as of March 21, 2026.
Why This Startup Matters
As a Nigerian startup in the Finance space, Adumo matters because it addresses local market problems with a scalable digital product or operational model.
Sources
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