Once hailed as “Africa’s answer to Plaid,” Nigerian fintech startup Okra is pressing reset on its big-tech ambitions.
After years of building open finance APIs and dabbling in cloud infrastructure, the startup has scrapped its Nebula cloud services to go all in on payments—leaner, sharper, and laser-focused.
From Cloudy Vision to Clear Execution
In a candid LinkedIn post, co-founder Fara Ashiru confirmed that Okra has sunset its Nebula unit, marking a dramatic pivot from cloud-based expansion to a back-to-basics approach anchored in its original strength: payments.
This strategic recalibration trims the fat, freeing up resources and boosting agility to execute a more targeted product roadmap.
“We’re not building everything anymore—we’re building what matters most,” Ashiru’s statement implied.
Why Payments? Why Now?
Okra is repositioning itself as the underlying infrastructure for Nigeria’s digital payments revolution, delivering modular, bank-grade payment rails for fintechs and small businesses.
With Nigeria’s mobile-first economy, the rise of digital wallets, and the government’s push for a cashless future, the timing couldn’t be better for Okra’s payments play.
What Triggered the Shift?
A $1M pre-seed boost from TLcom Capital in May 2025 helped reinforce a simpler, more profitable path.
Meanwhile, its $16M prior investment into APIs and cloud services struggled to gain traction, slowed by open banking regulation delays and macroeconomic volatility.
Ultimately, Okra cut losses on its broader tech stack to double down on payments, where demand remains high and monetization clearer.
What to Expect
For clients: A sleeker, more reliable payment API stack—designed for plug-and-play ease.
For competitors like Mono and Stitch: A major player is back on the battlefield with a leaner, faster model.
For investors: A renewed focus on execution, revenue, and sustainable scale.
Bigger Picture: A Fintech Evolution
Okra’s reset isn’t a retreat—it’s a signal of African fintech’s maturation. Startups that once sprinted to build “super platforms” are now narrowing their sights, opting for depth over sprawl. It’s not about being everywhere—it’s about being essential.
Final Word
Okra has traded its sky-high ambitions for something sturdier: building the rails that carry Nigeria’s digital economy. With a clearer mission, fresh capital, and growing demand for smarter payments, Okra’s second act is looking more powerful than its first.
