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Apace was founded by Similoluwa Bolaniran, an entrepreneur with extensive experience across financial services, consulting, and ecommerce industries. The problem that Similoluwa identified in the market is that business owners and retailers lose sales because they need access to credit like cycle (“CLC”) management solutions that allow them offer credit to their customers securely. Apace came into existence with the aim of bridging this gap by providing an easy-to-use fully automated BNPL platform that allows business owners to easily offer credit sales, and in turn increase sale conversions.
As a BNPL platform, Apace offers customers/shoppers the ability to purchase goods or services and pay for them at a later date, rather than paying for them upfront. In doing so, Apace allows customers/shoppers to make larger purchases that they may not be able to afford upfront. Apace also allows merchants to increase sales by offering financing options to customers. The Apace platform allows merchants to launch their own BNPL programs that offer customers/shoppers the flexibility to pay by instalment using Apace. Apace’s mission is to allow merchants sell more and the Company has built the tools for them to do so. Apace makes money by charging 2.5% on merchants and a 1% on customers/shoppers of sales value.
Bsc Economics - Similoluwa as an entrepreneur gathered experience cutting across financial services, consulting, and ecommerce industries. Trained as an economist, he has built competencies in product management, business growth & international expansion, digital transformation, FinTech, LendTech, and strategic leadership. He honed these skills while working with Guaranty Trust Bank (GTBank), Accenture, Flutterwave Inc., Eyowo & Max NG. He led a Microfinance Bank as Ag. MD between August 2020 and March 2022 turning it around from a loss-making institution to a profit within 8 months.