Klump, a Nigerian buy‑now‑pay‑later (BNPL) platform, said it will cease operations following a blog post by co‑founder and chief executive officer Celestine Omin on Sunday.
Company background
Founded in 2021 by Omin and Olufunbi Falayi, Klump offered a “Pay with Klump” service that let online shoppers split purchases into four instalments, giving merchants an additional payment option aimed at reducing cart abandonment.
“Today, with heavy hearts, we are announcing that Klump is shutting down. We are proud of what we built. Few things are as fulfilling as watching people use a product that once existed only in your imagination,” Omin wrote.
The announcement did not include details on the reasons for the closure or the timeline for winding down the service.
Klump’s shutdown marks the latest challenge for Nigeria’s fintech sector, which has seen several BNPL ventures struggle to achieve sustainable growth.
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