# Miden

> Miden is a Nigerian fintech building payments infrastructure for businesses across Sub-Saharan Africa. Through a single API, companies can issue virtual and physical cards in USD, NGN and multi-currency formats, run banking-as-a-service programs, open business accounts, and handle bill payments - the plumbing that lets other companies launch financial products without building banking rails from scratch. Founded in 2022 and part of Y Combinator's Winter 2024 batch, Miden has issued over a million cards and processes billions in transaction volume.

- **Founded:** 2022
- **Headquarters:** Ikeja, Lagos, Nigeria (US entity in Lewes, Delaware)
- **Founders:** Okiemute Dominic Avworhokai (CEO / Co-Founder), Ini Udoh (CTO / Co-Founder)
- **Team size:** 19-27
- **Products:** Card Issuing, Banking as a Service, Business Accounts, Bill Payments, Accruals & Disbursements
- **Notable:** Reached top 5 in TPV among card-issuing fintechs in Sub-Saharan Africa within 8 months of launch, Issued over 1,000,000 cards, Processed billions in transaction volume with reported 99% uptime

## Products & services

- **Card Issuing** — API-based issuance of virtual and physical cards in USD, NGN and multi-currency formats, with real-time spend controls and fraud monitoring.
- **Banking as a Service** — Infrastructure for businesses to embed banking features and launch financial products without building their own banking rails.
- **Business Accounts** — USD business accounts and NGN virtual accounts for collecting and holding funds.
- **Bill Payments** — Programmatic bill payment and disbursement capabilities within the platform.
- **Accruals & Disbursements** — Handling of payment accruals and fund distribution processes for enterprises.
- **Core Banking System & Global Treasury** — Full-featured core banking and international liquidity/treasury management for enterprise payment operations.

## Achievements

- Reached top 5 in TPV among card-issuing fintechs in Sub-Saharan Africa within 8 months of launch
- Issued over 1,000,000 cards
- Processed billions in transaction volume with reported 99% uptime
- Selected for Y Combinator Winter 2024 batch
- Operations spanning 20+ countries

## Latest updates

- **2024-02** — Selected for Y Combinator's Winter 2024 batch, one of a small group of African startups in the cohort.
- **2024-09** — Total funding reported at ~$630K following a seed raise.
- **2024** — Surpassed 1M cards issued and expanded platform to core banking and global treasury products for enterprises.

## Links

- Website: https://miden.co
- LinkedIn: https://www.linkedin.com/company/midenhq
- Twitter/X: https://x.com/midenhq
- Instagram: https://www.instagram.com/themidenhq
- Facebook: https://m.facebook.com/Midenhq/

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Profile page: https://yespress.io/miden-yc-w24
Published by YesPress — https://yespress.io
Last updated: 2026-07-30