Knabu

What they do:

Knabu is a blockchain-based clearing bank for B2B businesses. Provides a serverless decentralized platform on the existing banking economy. Apart from accepting deposits, they also undertake movement of funds between customers of other banks and payment service providers.

Why we invested:

Correspondent banking is slow, expensive and there is little incentive for UK banks to make this service more affordable for clients. Thus, transfers take time, are expensive, and startups in the banking space suffer as they have to work with a traditional player. Knabu's idea is to provide a new age 2024 correspondent bank which can support the startup ecosystem and enable a frictionless interbank transfer market.

The Founder:

Gabrielle Patrick is the Founder, CEO and General Counsel of Knabu

Active in:

Nigeria