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TeamApt Profile – About, Employees, Net Worth, Funding, And All You Need To Know

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TeamApt

TeamApt Profile – About, Employees, Net Worth, Funding, And All You Need To Know

Introduction

TeamApt

TeamApt is a financial technology company located in Lagos State Nigeria. They are focused on developing Digital Banking, Business Solutions, and Payments Infrastructure.

About

TeamApt was founded by Tosin Eniolorunda. Prior to establishing TeamApt, he worked in Interswitch as a designer for a virtual point of sales machine. While working in the bank, he observed the growing digital banking needs of banks. He said that he noticed their need and the role technology companies will play to accelerate these needs. He also noticed the impact money transfer inefficiencies had on all consumers and a remedy popped into his head.

After a few months, his idea was bought by some of his friends that joined him to build his idea. They are  Odun Adeboye, Felix Ike (both were ex-Interswitch employees), Adrian Agho, and Emeka Ibe. Together, they formed TeamApt to build their brainchild. Soon after, Tunde Ogidan joined in again from Interswitch to complete the founding team.

Related: Paystack Profile: About, Employees, Net Worth, Funding, And All You Need To Know

The name, Teamapt, was borne out of the work the team put into developing the platform and the synergy they worked with. They have a goal to use their team spirit and provide stronger payment systems across Africa.

Most startups desire and begin to woo potential investors at the early stage.  However, the case differed for Tosin Eniolorunda and his team. They decided not to take external funding, at least, not at the early stage of their business. When they were asked about it, he revealed that In the bid to satisfy investors and keep them excited, a lot of businesses are usually stifled.

The resultant is making fewer attempts to take risks or innovate spontaneously, as they deem fit. Teamapt was not prepared to take such a decision at the expense of their innovation and creativity as the desire was to deliver quality service. They relied on the notion that humans pursue value. He said, “Since people will jump on you when you have value, it’s better to prove that you have value first, then come back to place a demand on that value”.

When they were asked how they raised funding, it was revealed that Tosin Eniolorunda was the major financier of their project. His personal savings were used to invest in the company. The majority of the money was also generated from other jobs they did on the side.

The marketing strategy proved difficult a bit as they had to pitch their ideas to banks. The first bank that welcomed them was Fidelity Bank. A top Fidelity executive who was with them from the beginning said “We wanted a more efficient and automated way of reconciling these transactions, then TeamApt came along, we tried them with one or two products to reconcile and it worked out. So we decided to go all in.”

TeamApt began to grow gradually and in two years they began to hit seven-figure annual revenue in dollars. They moved from Fidelity Bank to First Bank to Access Bank and in recent times were the developers of launched ALAT by Wema.

The company was launched officially in the year 2015. Since it’s launch, the company has facilitated fifty-five tailored solutions to twenty-six African banks, including 100 percent of Nigeria’s commercial banks.

After they observed the speed at which banks accepted their services, they launched a digital banking solutions service and still not letting go of their core value which is financial happiness.

They have also gone ahead to initiate the digital banking system with some banks like First Bank, UBA, FCMB, and some other banks, which are up to 10. It was easier because they had already built a working relationship with banks.

Related: Flutterwave Profile: About, Employees, Net Worth, Funding, And All You Need To Know

The company has been growing steadily. In April 2019, they secured a switching license from the Central Bank of Nigeria (CBN). The aim was to increase the impact of AptPay, which is one of the services they render.

TeamApt, in order to secure the future, now builds apps that will be of service to the digital needs of people in the future. One of which includes the first instant transfer app that is based on blockchain.

Employees

TeamApt has about a hundred and twenty-seven staff under its employ. The reviews have read that it’s a great place to work as everyone bonds like a family. Some other reviews read that working with Teamapt can be quite challenging. You either learn how to sink or swim.

The Chief Executive Officer is Tosin Eniolorunda. Other executives include Leslie Williams who is the Creative Director and Elaine Delaney who is a board member and Director of Zenith Capital Limited.

The investor in Teamapt is Quantum Capital Partners, represented by Elaine Dulaney and they have been part and parcel of the organization since February 2019.

The first series A funding for Teamapt was in February 2019 and Quantum Capital Partners, were the participants. They were able to generate 5.5 million In the first round.

Salaries

TeamApt

The salary scale for individuals in Teamapt includes

  • average salary is one hundred and fifty-eight thousand Naira (158,000).
  • Entry Level Salary for a Backend Engineer at TeamApt, Nigeria is two hundred and sixty-eight thousand Naira (268,000).
  • For an application, the developer is a hundred and thirty-eight thousand Naira (138,000)
  • An application support analyst is a hundred and five thousand Naira (105,000)
  • An application support engineer earns eighty-eight thousand Naira. (88,000)
  • An associate consultant earns two hundred and twenty-one thousand Naira (221,000).
  • A software tester earns a hundred and fifty-eight thousand Naira. (158,000).
  • A software developer earns a hundred and five thousand Naira (105,000).
  • A software engineer earns two hundred and ten thousand Naira (210,000).

Net worth

The exact net worth of TeamApt is not recorded but they are estimated to be above $500,000.

Conclusion

TeamApt fintech company has recorded considerable growth and are set to expand beyond Nigeria. They have also positioned themselves to seize the future when the time comes. You can find out more about TeamApt fintech from here.

 

 

 

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What is Cryptocurrency And How Does It Work? 

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Obiex finance website

Cryptocurrencies are decentralized digital assets that operate on blockchain technology that in turn operates by storing a ledger of every transaction on all nodes powering the blockchain. 

In layman’s terms, blockchain technology is like a record keeper, it collects data (in blocks) and links one block of data to another, forming a chain. The data on the blockchain is open for all to see and cannot be easily altered. Blockchain technology can be used for a variety of use cases besides cryptocurrency, ranging from voting to crowdfunding, keeping health records, etc.

Using Bitcoin as an example, nodes are computers connected to the network to mine Bitcoin,  – this collection of independent nodes working together is what makes the network decentralized.

The decentralized nature of cryptocurrency is down to the creators recognizing flaws in traditional banking & financial systems like governments and financial institutions acting only in their best interests and not in the best interest of the common man, leading Satoshi Nakamoto (the creator of bitcoin and blockchain technology) to take steps to rectify that.

Related: What are NFTs?

To make cryptocurrency transactions, you will need to have a set of both public and private keys that will act as passwords protecting your crypto wallet. 

The Public key is connected to your wallet address, allowing you to share the address with others to receive cryptocurrency, while the private key is known to only you and is what you will use to approve outgoing crypto transactions from your wallet. 

Trading Cryptocurrency on Obiex

Obiex finance website

With the popularity of cryptocurrency trading currently at an all-time high, the biggest challenge for many rookie traders is selecting which cryptocurrency exchange to trade on.

If you fall in this category, the immediate priority should be finding an exchange that allows rookie traders to make trades easily, doesn’t charge extra fees and is completely secure. That exchange is Obiex Finance.

In this guide, you will be shown how to navigate the Obiex mobile app & website easily and what to do to get started with making cryptocurrency trades. 

Getting started with Obiex Finance 

Obiex Finance is a digital asset exchange and financial technology (Fintech) platform that gives its users the ability to easily execute cryptocurrency trades from anywhere regardless of their skill level.

Their commitment to ensuring that users get the best experience is shown in how they allow instant swaps from volatile coins like Bitcoin to stable coins like USDT, and vice versa, without confirmations. In a market where the value of crypto can fluctuate wildly, this feature is especially valuable as it allows users to seamlessly switch between making profits to saving those profits in a more stable currency before the value drops.  

To create an Obiex Finance account, simply head over to their homepage, click on “sign up”, fill in the required fields and verify your email address. After that, create wallet addresses for your crypto assets and you’re ready to start trading!

The cryptocurrency available for trading on the Obiex Finance platform are: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Polygon (MATIC), Dogecoin (DOGE), Tether (USDT), Binance USD (BUSD), and USD Coin (USDC).

Getting Started with Cryptocurrency trading

After creating your Obiex account, you need to follow these simple steps:

  1.     Have a Trading Strategy: Trading cryptocurrency without having a strategy in place is the easiest way to lose your money. You will need to research the various crypto trading strategies thoroughly and choose the one that best suits your needs and temperament. For example, if you’re a patient person who is content to make smaller, safer trades over a long period of time instead of making riskier trades, then scalp trading is the best trading strategy for you. There are also other crypto trading strategies such as Swing trading, position trading, Arbitrage, dollar cost averaging etc.
  2.     Pick the cryptocurrency you’d like to trade: There are several cryptocurrencies available on Obiex Finance such as Bitcoin, Ethereum, Binance Coin, Tether etc. Selecting which cryptocurrency to trade is usually down to making a choice; whether to stick with the safer, more established cryptocurrencies like Bitcoin or to go with the more volatile coins that have a high upside and an equally high-risk factor like the Dogecoin which can move in either direction based on what Elon Musk tweets.

It is also important to note that when you pick a cryptocurrency to trade, it would be wise to ensure that the cryptocurrency matches the strategy you pick. For example, if your preferred strategy is patient scalp trading, then investing in volatile coins that have a high upside but carry a lot of risk is not the wisest move. 

To swap crypto on Obiex Finance, add the wallet of crypto assets you’d like to swap, send the crypto to the wallet you just created, navigate to the ‘swap’ option on your dashboard, and select the coins you’d like to swap. You will receive the swapped coin in your wallet balance immediately without waiting for network confirmations.

  1.     Securely store your cryptocurrency: The same way you’d protect your goods and profits if you had a physical store is the same way you need to protect your cryptocurrency so it doesn’t fall into the wrong hands.

You can store your crypto securely on your Obiex wallet but if you want an alternative, physical wallets are also an option. Physical wallets allow you to store your crypto in secure hardware, offline storage device reducing the likelihood of online hackers stealing your hard-earned crypto. This is a list of reliable physical wallets you can use.

Conclusion

If you’re a newbie to crypto trading, the keyword is patience. Taking the time to properly understand the market before making trades will stand you in good stead. While risks occasionally pay off, a patient, long-term strategy is required to make consistent profits. For more information about trading as a newbie, you can check this out to understand unfamiliar crypto terms and to learn more about spot trading and futures.

Obiex Frequently Asked Questions | Obiex FAQs

  • Will I be charged a fee when I swap coins on Obiex? 

No you won’t. While other crypto exchanges charge for trades and require confirmations to execute swaps, Obiex allows you to make free, instantaneous swaps without the delay that comes with waiting for confirmation. This also helps you avoid unnecessary losses.

  • Can I trade crypto on Obiex if I don’t know much about crypto? 

Yes, you can! The Obiex Finance platform allows both rookie and experienced traders to make easy, safe trades regardless of trading experience.

  • Can I send and receive crypto easily?  

Yes, you can. To send crypto, you will use your private key to execute outgoing trades and your public key/your wallet address to receive incoming trades. You can also send and receive crypto using just Obiex usernames.

  • Why do I need to swap coins? 

Swapping coins allows you to either acquire a coin you think is (currently) more valuable than a coin you have a lot of. You can also use swaps to ensure that your funds are invested in a more secure coin like USDT if you feel the volatile coin you’re holding is about to go on a bear run and lose value.

  • Do I get a referral bonus when I invite friends to use Obiex? 

Yes, Obiex has a referral campaign that rewards users that invite their friends and family to trade the minimum of $10 on Obiex.

 

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NairaMetrics Profile – About, Employees, Net Worth, Founders, And All You Need To Know

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