Wallet.ng has managed to attract funding from Microtraction to expand its cellphone based platform that facilitates sending and receiving money from Nigeria. Wallet was founded by John Oke and Joseph Benso-Aruna, who would like to bring competition to the traditional banking industry that is well-known to be more internally driven in Nigeria. Microtraction invests in entrepreneurs who leverage technology, capital and innovation to try and solve African problems. The amount invested was undisclosed.