The 2024 closure of Nigerian fintech startup Thepeer is back in the spotlight following new, detailed claims from a company co-founder, shedding more light on the internal disputes that led to its demise.
Thepeer, which built an API for digital wallet interoperability, shut down in May 2024. At the time, shareholders had cited over USD 1.2 M in unaccounted funds and alleged the founders avoided a requested audit before closing shop . It was later reported that the company returned USD 357 K to investors, seemingly moving on from the audit demands.
Now, Sultan Akintunde, who helped midwife Thepeer and current co-founder of AltSchool, has shared his account of the events leading to the shutdown.
