IroFit

paymentsmobile/digital walletpos/mobile pos

FOUNDING YEAR: 2014
LOCATION: Finland
Last Update: 17/07/2020

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About

We make our clients' lives easier and more efficient by developing solutions that are 'fitted' to their needs. Our flagship product is a mobile credit card reader that works without internet and the cloud-based payment system. This allows millions of merchants in developing countries accept card payments in areas with poor/no Internet connections- increasing their business sales, retain/grow their customers, and better engage their customers.

MEDICI Analysis

IroFit mobile card reader allows small businesses to accept card payments anywhere they operate, even in areas with poor internet connection. By ensuring widest possible coverage area and effective operations, merchants increase sales and buyers are better served.

Focus

PRODUCTS & SERVICES

Mobile Card Payment System

REVENUE MODEL

Company charge a portion of the Nigerian interchange fee, which is 1.25% per transaction

MAIN CLIENTS

Retail consumers

Traction

VALUATION / MARKET CAP:

$4 M in 2015

ACTIVE USERS:

0.0050

People

FOUNDERS

Olusegun Okedara

Olusola Folorunso

Omoniyi A. Olawale

BOARD MEMBERS AND ADVISORS

Will Cardwell

Risto Koivisto

Omoniyi A. Olawale

Olusola Folorunso

NUMBER OF EMPLOYEES

1-10

INVESTORS:

Business Finland

Dayo Mofikoya

Inventure

Inventure Oy

Nordic Venture Partners

Nordic Venture Partners (Sweden)

Olavi Lappalainen

Rasheed Olaoluwa

Tekes

Momentum

FUNDED

NO

TOTAL FUNDING

$600 K

DATE OF LAST FUNDING

Nov 2014

SEED & PRIOR FUNDING

$600 K

SEED CLOSED ON

Nov 2014

LISTED

NO

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