Nigeria’s leading export-tech company, Niteon, has entered a new phase with the launch of Niteon Capital, a digital bank built exclusively for manufacturers on the continent.
The new venture stems from the vision of Nigerian founders Tony Nwose and Daniel Chukwuemelie, who established the U.S.-based startup to simplify global trade for African producers. From agriculture to textiles and mineral exports, Niteon has built trust by verifying suppliers and linking them with buyers across multiple continents. With operations already active in the U.S., U.K., Canada, and South Asia—and export clearance via an FDA Global Partner License—the company has proven its ability to open markets beyond Africa.
Why Finance, Why Now?
For Niteon, the move into financial services is strategic. The company is preparing a $1.5 million equity raise and $5 million debt round, with the funds earmarked to strengthen fintech infrastructure that supports its marketplace.
“African manufacturers are putting in the work, yet banks have never designed systems for them,” Nwose explained. “That gap is exactly what Niteon Capital intends to close.”
What Makes Niteon Capital Different
Unlike typical neobanks that cater to a broad customer base, Niteon Capital is designed with one community in mind: manufacturers and exporters. Its suite of services reflects this narrow but crucial focus:
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Procurement & Invoice Financing to ease cash flow when fulfilling bulk orders.
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Ethical, Sharia-Compliant Options for Northern Nigeria and Islamic trade regions.
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Export Wallets with multi-currency capability, tax advantages, and carbon credit benefits.
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Infrastructure Loans to upgrade plants, equipment, and logistics chains for global competitiveness.
By embedding these solutions within its marketplace, Niteon is removing the friction between production, logistics, trade, and now—finance.
From Marketplace to Ecosystem
The company says this shift represents a transformation in its mission. What began as a platform to connect buyers and sellers is now evolving into a full export ecosystem aimed at addressing structural barriers in African trade.
“We’re building more than a digital marketplace,” the company noted in its statement. “We’re constructing the financial engine required for Africa’s industrial scale-up.”
That ambition has earned the support of international backers including Seedstars, Tomi Davis, TVC Labs, Zenith Bank, and the Development Bank of Nigeria.
The Road Ahead
As rollout begins, Niteon is inviting investors into its combined seed round. By the end of 2025, the company expects to onboard over 20,000 manufacturers, deepen its licensing footprint, and expand its AI-driven trade systems.
Co-founder Chukwuemelie summed it up: “What we’re doing is not just scaling a business—it’s setting the stage for how Africa finances its industrial growth from the factory floor to the global warehouse.”
