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Bloc

“Can Bloc become the definitive Banking-as-a-Service and payments infrastructure layer for African (starting with Nigerian) businesses via a proprietary CBN-licensed stack?”

Founded2021
HQLagos, Nigeria
Total raised$1.1M
Latest roundSeed, 2021
IndustryInfrastructure / BaaS
The story

Founded in Nigeria to provide Banking-as-a-Service infrastructure via API to startups and businesses, Bloc initially focused on virtual accounts and bank transfers backed by CBN-licensed partner banks. It expanded into card issuance and payments orchestration by acquiring Getwallets/Orchestrate in April 2023, consolidating BaaS and payment orchestration under one platform. Bloc holds its own CBN PSSP and Microfinance Bank licences, operating Bloc MFB (Banc Corp Microfinance Bank) as an in-house banking entity, enabling it to offer licensed banking infrastructure directly without solely relying on third-party sponsor banks.

Last 12 months
—
Product timeline
2021
Bloc founded and raised Seed funding to build Banking-as-a-Service infrastructure for Nigerian businesses.· banking
2023
Bloc acquired Orchestrate (formerly Getwallets), a payments orchestration startup for African businesses, expanding its FinTech infrastructure offering.· acquisition
2023
Launched Bloc Checkout, a payment orchestration and checkout product to reduce payment failures for Nigerian businesses.· payments
2023
Launched virtual card issuance (Verve-branded NGN cards) and Fixed Account products via Banc Corp Microfinance Bank (Bloc MFB subsidiary).· card
Acquisitions
Orchestrate (formerly Getwallets)2023
Acquired Getwallets (rebranded to Orchestrate), a payments orchestration and wallets-as-a-service company, to power Bloc's payment orchestration infrastructure for African businesses.
Regulated entities
2
regulatory licences held by Bloc
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Bloc’s embedded-finance stack
Payments / PSP
Bloc Checkout (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Accounting gap: significant
5 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.