BlocMFB
“Can a CBN-licensed microfinance bank become the primary banking-as-a-service layer for Nigerian SMBs?”
Founded2009
HQLagos, Nigeria
Total raised$1.1M
Latest roundSeed (2021)
IndustryFintech / SMB banking
The story
BlocMFB (aliases: Techadvance, BlocHQ) is a Nigerian technology-led microfinance bank offering banking-as-a-service to SMBs. It provides virtual accounts, transfers, online payments, payment links, POS terminals, bills payment, cards, and working capital lending, positioning itself as an SMB-focused digital MFB rather than a pure BaaS API layer.
Last 12 months
Product timeline
2009
Founded as Techadvance in Lagos, Nigeria· founding
2021
Seed funding round· funding
Regulated entities
1
regulatory licence held by BlocMFB
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in BlocMFB’s embedded-finance stack
Payments / PSP
BlocMFB Payments (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
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.