Nigeria’s escrow firm, EscrowLock has received a $100 million international enterprise grant from the world’s largest social media firm, Fb Integrated.
The native escrow platform primarily based in Anambra State is a trusted third-party that receives and “locks” transaction funds from patrons and solely releases fee to the supposed vendor when the vendor has delivered the required items or providers within the agreed situation.
The intermediary service helps to guard each patrons and sellers from on-line fraud, thereby boosting eCommerce actions and serving to extra individuals earn an honest livelihood.
In accordance with the Director of EscrowLock, Elochukwu Eze, the data was contained in an announcement issued by Fb and made out there to EscrowLock’s workplace in Agbiligba Nanka, Anambra State.
He additionally mentioned escrowlock Market engages over 1,000 Nigerians as associates.
A Senior Government of the agency, Mr Deji Akinbode, revealed that the agency will by subsequent month start to simply accept functions from Nigerians who’re keen on working as on-line associates for its market.
EsrowLock’s Technique Lead, Ms Sandra Iheanaetu, mentioned the corporate would quickly present micro-grants and visibility to small companies run by on-line people throughout the 36 states of Nigeria and the FCT. The problem is designed to carry, not less than, each quarter of the 12 months.