Sycamore Integrated Solutions Ltd. has closed its Series 1 Commercial Paper issuance at ₦6.89 billion, surpassing its ₦3 billion target by 230 per cent.
The Chief Executive Officer, Mr. Babatunde Akin-Moses, disclosed this during the programme signing ceremony on Tuesday in Lagos.
Akin-Moses said the company’s capital market debut reflects a growing shift among technology-driven financial firms towards alternative funding sources, moving beyond traditional venture capital and equity financing into structured debt instruments.
According to him, the issuance forms part of a ₦20 billion Commercial Paper Programme arranged by BAS Capital Ltd. The offer opened on March 9 and closed on March 20.
“The proceeds will support the expansion of Sycamore’s lending portfolio, particularly improving credit access for small and medium-sized enterprises across Nigeria,” he said.
“This underscores growing investor appetite for commercial paper amid tighter global venture funding and concerns over equity dilution,” Akin-Moses added.
He noted that the strong subscription reflected investor confidence in Sycamore’s governance and operational framework, as investors increasingly prioritize predictable returns, credible institutions, and firms with strong risk management systems.
Sycamore, founded in 2019, has steadily strengthened its operational capacity within the financial services industry by meeting regulatory requirements, upholding corporate governance standards, and maintaining high levels of financial disclosure.
“In 2025, we processed over ₦100 billion for about 400,000 customers across loans, investments, asset management, and multi-currency wallet services,” the CEO said.
Also speaking, the Managing Director of BAS Capital, Mr. Yinka Adetuberu, attributed the success to sustained demand for short-term yield-enhancing instruments amid prevailing interest rates.
The Chief Operating Officer of Sycamore Group, Ms. Onyinye Okonji, thanked stakeholders for their support of the successful maiden issuance.
