Duplo
Duplo is a Nigerian fintech SaaS company offering an API-first financial operating system for African SMEs and mid-market enterprises, unifying expense management, multi-currency payments, global accounts, e-invoicing, and ERP integration across Nigeria and South Africa.
- Company typePrivate
- Founded2022
- HeadquartersLagos, Nigeria
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Duplo does
Duplo Limited is a Nigeria-domiciled, private fintech SaaS company that operates an API-first financial operating system for African businesses. Founded in 2022 by Yele Oyekola (CEO) and Tunde Akinnuwa (CPO), the company is headquartered in Lagos with a regional subsidiary, Duplo SA, in Bryanston, Sandton, South Africa. The platform unifies expense management, multi-currency payments, global accounts, automated reconciliation, approval workflows, bulk payments, and tax/e-invoicing compliance within a single product surface, with native integrations into Sage, Microsoft Dynamics 365 Business Central, Microsoft Dynamics Navision, and Xero.
The platform supports 80+ currencies across 160+ countries, multi-currency wallets in 70+ currencies with real mid-market FX, T+0 settlement in supported corridors, bulk payouts to up to 500 recipients, and NRS-compliant e-invoicing for Nigeria. Duplo is dually accredited by the Nigeria Revenue Service as a Systems Integrator and Access Point Provider, holds a Central Bank of Nigeria PSSP Approval In Principle, and is certified to ISO/IEC 27001:2022 and ISO 22301:2019 (with ISO 20000:2018 in pursuit). It also participated in Mastercard's Start Path Open Banking program and partners with Ozow (South Africa EFT rails), Loita Business (Southern Africa trade), and Y Combinator.
Duplo firmographics
Firmographics- Name
- Duplo
- Legal name
- Duplo Limited
- Website
- https://tryduplo.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Duplo is a Nigerian fintech SaaS company offering an API-first financial operating system for African SMEs and mid-market enterprises, unifying expense management, multi-currency payments, global accounts, e-invoicing, and ERP integration across Nigeria and South Africa.
- Ownership category
- akta.pro rank
Duplo industry classification
Industry- Product category
- B2B Payments and Financial Operations Software
- NAICS
- Software Publishers (513210)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
- akta.pro secondary industries
- Utility & Municipal Billing Platforms (FSAMAJAG), Order-to-Cash (O2C) Operations (Order Admin, Credit, Invoicing, Collections Handoff) (BPAAAGAK)
Keywords
Where Duplo is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices2 records
Markets served
Duplo business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales, Others
Revenue model
- Platform Subscription and Transaction Fees: Duplo generates revenue through subscription fees for platform access combined with transaction-based fees for payments processed. The platform offers multi-currency account services with FX conversion revenue. Businesses pay for premium features including advanced reporting, bulk payments, and API access.
- Payment Processing: Revenue from processing local and international payments with fees applied per transaction. Cross-border payments generate FX margins and transaction fees. The platform supports T+0 settlement in supported corridors.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free signup tier with basic features |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels9 records
Duplo product offering
Product offeringCore offering
Duplo is a SaaS financial operating system for African businesses that automates B2B payments, expense management, multi-currency accounts, and tax-compliant e-invoicing. The platform enables finance teams to make local and international payments in 80+ currencies across 160+ countries, manage expenses with approval workflows, generate NRS-compliant e-invoices for Nigerian tax authorities, and reconcile transactions automatically with ERP systems like Sage, Microsoft Dynamics, and Xero.
Product overview
Duplo is a unified financial operating system for African businesses offering a platform-plus-modules architecture. The core platform centralizes payments, reconciliation, expense management, and financial reporting into one integrated system. The main products include Expense Management (automated spend tracking and approval workflows), Global Payments (local and international payments in 80+ currencies across 160+ countries), Global Accounts (multi-currency business bank accounts in 70+ currencies), and NRS E-invoicing (accredited e-invoice generation and tax submission). Additional modules include Approval Workflows, Bulk Payments, Auto Reconciliation, Multi-currency Wallets, Instant FX Swap, Tax Management, Direct Debit, Reimbursements, Payment Gateway, and Reporting & Analytics. The Payment API enables developers to embed Duplo's financial operations into third-party products. For South Africa, specific modules include Local Payments (ZAR), Virtual Accounts (ZAR), and Vendor & Department Wallets.
Differentiator
Problem solved
Functional benefit
Products and services
- Expense Management Automated spend tracking, approval workflows, and expense claim management enabling African businesses to control, track, and optimize expenditures in real-time with department-level expense accounts, budget setting, custom approval workflows, and transaction history tracing.
- Global Payments Local and international payment processing platform supporting 80+ currencies across 160+ countries, enabling businesses to make and collect payments on one dashboard with fast transfers, multi-currency support, and automated tracking with T+0 settlement options.
- Global Accounts Multi-currency business bank accounts enabling real bank accounts in 70+ currencies including USD, GBP, EUR, and more, allowing businesses to collect payments from international clients without foreign subsidiaries, hold foreign currency balances for FX risk management, and convert funds at transparent rates on demand.
- NRS E-invoicing NRS-compliant e-invoice generation and management platform enabling businesses to generate Nigeria Revenue Service-standard e-invoices, automatically route them to tax authorities, and settle payments within the same ecosystem as an accredited Systems Integrator and Access Point Provider.
- Payment API Developer-facing API enabling payment solutions for customers with support for virtual accounts, payouts, FX conversions, approvals, and reporting capabilities, allowing seamless and secure integration of end-to-end financial operations into third-party products and platforms.
- Local Payments (ZAR) South Africa-specific local payment solution enabling fast and secure ZAR payments to vendors, staff, and partners from one dashboard with same-day settlement and full transaction status visibility.
- Virtual Accounts (ZAR) ZAR-denominated virtual account solution for South African businesses enabling creation of dedicated virtual accounts for departments, vendors, and collections with easy payment tracking, reconciliation, and audit trails.
Quantifiable outcome
- Reduce payment-related costs by up to 85%
- +4 more outcomes
Companies that use Duplo
Customer profileNamed customers15 records
Segments5 records
Ideal customer profiles4 records
Duplo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
AI capability3 records
Feature13 records
Duplo partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core, flagship and minor.
- XerocoreDuplo launched Xero integration for South African Dashboard, enabling seamless two-way financial data sync. African businesses can now integrate Duplo payments with Xero accounting for automated reconciliation and real-time financial data.
- OzowcoreDuplo partnered with South Africa's Ozow payment gateway to integrate Ozow's instant account-to-account (EFT) payment rails into Duplo's financial operating system. The partnership enables South African businesses to automate invoicing, reconciliation, and expense management on a single platform. Ozow provides secure and instant EFT payment processing while Duplo offers the broader financial operations layer.
- Loita BusinesscoreDuplo and Loita Business partnered to digitize B2B payments and trade across Southern Africa. The partnership aims to provide integrated financial operations solutions to businesses operating in the Southern African region.
- Mastercard Start Path ProgramflagshipDuplo was selected for the Mastercard Start Path Open Banking program, gaining access to Mastercard's network, resources, and partnership opportunities for fintech innovation and growth.
- Let it Shine AcademyminorDuplo partnered with Let it Shine Academy (LISA) to support free secondary education for children from low-income households and education at the Special Correctional Centre.
- SagecoreDirect integration with Sage ERP enabling automated payment processing, real-time transaction tracking, and simplified reconciliation directly from the Sage platform.
- Microsoft Dynamics 365 Business CentralcoreDirect integration with Microsoft Dynamics 365 Business Central enabling automated payment processing, transaction tracking, and reconciliation within the Microsoft ecosystem.
- Microsoft Dynamics NavisioncoreDirect integration with Microsoft Dynamics Navision enabling payment automation and reconciliation capabilities for businesses using the Navision ERP.
Scale indicators10 records
Recent moves7 records
Expansion highlights7 records
Duplo competitors and assessment
Company assessmentDirect peers
- Mono: Nigeria-based open banking and account-to-account payment infrastructure provider. Mono offers direct account connectivity, payment initiation, and financial data APIs serving African fintechs, closely overlapping with Duplo's API-first payment initiation and A2A value proposition in Nigeria.
- Flutterwave: Pan-African B2B payments platform serving SMEs and enterprises across Nigeria, South Africa, Kenya, and beyond. Both Duplo and Flutterwave target African businesses needing cross-border payment rails, multi-currency support, and developer-friendly APIs, though Flutterwave is significantly larger and broader in scope.
- Paystack: Nigerian-born online payment gateway (now owned by Stripe) processing payments for African businesses. Paystack overlaps with Duplo's payment gateway and B2B payment initiation capabilities for SMEs, though Paystack is primarily consumer-facing checkout versus Duplo's B2B expense/payables focus.
- Stitch: South African financial data connectivity and payment initiation platform enabling businesses to access bank account data and move money via API. Stitch is the closest direct comparator to Duplo's South African operations, with overlapping A2A payment, account aggregation, and developer-first positioning.
Broad incumbents
- Cellulant: Pan-African payments platform serving banks, businesses, and global organizations across 35+ countries. Cellulant operates broad payment infrastructure (Tingg, payment processing) with overlap to Duplo's cross-border B2B payment and collection capabilities at scale.
- Interswitch: Pan-African digital payments and commerce giant operating across Nigeria and other African markets with cards, payments, and transaction processing. Interswitch is a broad incumbent with overlapping B2B payment capabilities but a much larger portfolio spanning consumer and enterprise use cases.
- Payoneer: Global cross-border B2B payment and multi-currency account platform serving SMBs, marketplaces, and freelancers. Payoneer competes with Duplo's Global Accounts and cross-border payment products, though it serves a more global customer base rather than Africa-first.
Regional players
- Yoco: South African fintech serving SMBs with card payments, point-of-sale, and business banking tools. Yoco is regionally focused on South African SMBs, overlapping with Duplo's Duplo SA operations on payments and merchant tools, though primarily POS-led rather than B2B payables-led.
Emerging players
- Airbase: US-based spend management and AP automation platform combining corporate cards, bill pay, approval workflows, and expense management. Airbase represents the global category leader in the expense/AP automation space that Duplo is adapting for the African market.
- Brex: Corporate card and spend management platform offering cards, bill pay, expense management, and accounting automation. Brex operates in adjacent spend-management product categories to Duplo's expense management and global payments offering, providing a product benchmark.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Duplo social profiles
Digital presenceDuplo compliance and trust
Trust signalCompliance6 records
Duplo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Duplo leadership team
Management profileNumber of profiles
Profiles2 records
Duplo subsidiaries and ownership
Company hierarchySubsidiaries1 record
Duplo funding detail
Funding detailFunding overview
Funding rounds3 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Duplo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Duplo
What does Duplo do?
Duplo is a SaaS financial operating system for African businesses that automates B2B payments, expense management, multi-currency accounts, and tax-compliant e-invoicing. The platform enables finance teams to make local and international payments in 80+ currencies across 160+ countries, manage expenses with approval workflows, generate NRS-compliant e-invoices for Nigerian tax authorities, and reconcile transactions automatically with ERP systems like Sage, Microsoft Dynamics, and Xero.
Is Duplo a public or private company?
Duplo is a private company. It is classified as venture growth investor backed and is currently operating.
When was Duplo founded?
Duplo was founded in 2022. It employs 51 to 100 people.
Where is Duplo based?
Duplo is headquartered in Lagos, Nigeria, in the Africa region.
How does Duplo make money?
Two revenue lines are on record. Platform Subscription and Transaction Fees are the primary driver. The others are payment Processing.
Who are Duplo's main competitors?
Direct peers on record are Mono, Flutterwave, Paystack and Stitch. Broad incumbents are Cellulant, Interswitch and Payoneer. Yoco is listed as a regional player. Emerging players are Airbase and Brex.
Does Duplo have an API?
Yes. Duplo APIs enable developers to build payment solutions for customers. From virtual accounts and payouts to FX conversions, approvals, and reporting, the APIs allow seamless and secure integration of end-to-end financial operations into products. The API supports end-to-end payment processes including virtual accounts, payouts, FX conversions, approvals, and reporting. The API is described as API-first architecture and well-documented. Developer documentation is at developers.tryduplo.com/duplo-api-documentation.
What industry is Duplo in?
Duplo's product category is B2B Payments and Financial Operations Software. Its primary akta.pro industry code is FSAMAFAB, A2A Payment Initiation Service Providers (PISPs), with a secondary code of FSAMAJAG, Utility & Municipal Billing Platforms. Its NAICS code is 513210 and its SIC code is 7372.