Duplo

Duplo is a Nigeria-based financial technology company that positions itself as a financial operating system for African businesses. Its platform combines B2B payments, multi-currency accounts, expense management, reconciliation and financial reporting so that finance teams can make and collect local and international payments, hold funds, and automate approval and accounting workflows from a single dashboard [0][2].

The product suite includes expense management (departmental expense accounts, budgets, custom approval workflows, reimbursements, transaction tracking and spend analytics), global payments and collections, multi-currency global accounts with mid-market FX rates, instant FX swaps, bulk payments, direct debit, automated reconciliation, tax management and reporting, a payment gateway, and e-invoicing designed to meet Nigeria's NRS e-invoicing standard. Duplo also exposes APIs covering virtual accounts, payouts, FX conversion, approvals and reporting so other platforms can embed financial operations [0]. The company states its platform supports sending and receiving payments in more than 80 currencies across more than 160 countries, and cites compliance and security credentials including a Central Bank of Nigeria PSSP licence, NDPR compliance, ISO 27001 and ISO 22301, and PCI DSS [0].

Founding story

Duplo was co-founded by Yele Oyekola and Tunde Akinnuwa. Oyekola began his career as a credit-focused financial analyst and then worked at the United Nations on economic policy support for African governments; in 2019 he founded Julla, a buy-now-pay-later startup for East Africa, which operated until December 2020, after which he joined Carbon in January 2021 as a product lead scaling its BNPL product before building Duplo. Akinnuwa previously helped build business and consumer payments verticals at Jumia via JumiaPay and was Country Manager at Seedstars [2].

Business model

Duplo sells software and payment infrastructure to businesses, offering a self-service sign-up alongside enterprise demos, and provides APIs for platforms that want to embed payments and financial operations [0].

The company references fees on multi-currency accounts and FX (marketed as low fees at mid-market rates) and payment/collection services, and claims customers can reduce payment-related costs by up to 85% [0][3].

Traction

The website features customer testimonials from treasury, operations and executive users of its payments and expense management products, and states that businesses can reduce reconciliation admin time by up to 50% and payment-related costs by up to 85% [0][3].

Latest developments

Recent company announcements cover a partnership with Wema Bank to serve ALAT Business customers with a connected financial operations platform (July 2026), a referral programme offering ₦100,000 per referred business (August 2026), and a partnership with Ozow for local payments and expense management in South Africa (April 2026). The website also promotes NRS-compliant e-invoicing ahead of a regulatory compliance deadline [0][4].