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§ Private Profile · Lagos, Nigeria
Developer infrastructure company providing open-source webhook services for API development, focused on the African market.
Frain Technologies is a San Francisco and Lagos-based developer infrastructure company that builds Convoy, an open-source cloud-native webhook service for designing and distributing APIs. The enterprise software platform enables businesses to securely manage webhook infrastructure without requiring internal development teams to build and maintain custom systems from scratch. While the company primarily targets the African fintech and API development communities, its open-source tools are currently utilized by software engineers globally. The startup has raised a total of $970,000 in venture capital funding, which includes a $473,000 pre-seed round and a subsequent $500,000 convertible note. Frain Technologies is backed by institutional investors such as Rally Cap Ventures, Musha Ventures, and Future Africa, alongside prominent angel investors including Odunayo Eweniyi and Timi Ajiboye. The organization was officially founded in February 2021 by co-founders Subomi Oluwalana and Emmanuel Aina.
Frain technologies has raised $470K across 1 funding round.
Frain technologies has raised $470K in total across 1 funding round.
Frain technologies has raised $470K in total across 1 funding round.
Frain technologies's investors include Rally Cap Ventures, rali_cap, Odunayo Eweniyi, Timi Ajiboye, Future Africa, Musha Ventures.
Frain technologies has raised $470K across 1 funding round. Most recently, it raised $470K Seed in January 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2022 | $470K Seed | Rally CAP Ventures | Rali CAP, Odunayo Eweniyi, Timi Ajiboye, Future Africa, Musha Ventures | Announced |
Frain Technologies is a Nigerian developer-tooling startup founded in 2021 in Lagos, specializing in infrastructure for webhooks and API development to streamline product delivery.[2][3][6] Its flagship product, Convoy, is a cloud-native webhook service that provides out-of-the-box security, reliability, and scalability, enabling developers to push webhook events quickly without building infrastructure in-house.[3][6] Frain serves software developers and businesses building APIs, solving the problem of complex webhook management in integrations like payments and deliveries, with revenue from usage-based managed services.[3] The company raised $473,000 in pre-seed funding in 2022 to expand Convoy and develop new products, operating as SaaS in product design and delivery sectors with 2-10 employees.[1][2]
Frain Technologies was founded in 2021 by Subomi Oluwalana (Co-founder and CEO) and Emmanuel Aina (Co-founder and COO), both experienced developers from Nigeria's tech scene.[2][3][4] Subomi, a backend developer, built APIs for fintech firms like MKOBO Microfinance Bank, Buycoins, and Tangerine Life, identifying pain points in webhook infrastructure during API integrations.[3] Emmanuel, a frontend developer, contributed expertise from healthtech, cryptotech, insurtech, and fintech roles at companies like LifeBank, Buycoins, and Tangerine Africa, plus consulting for United Capital.[3] The idea for Convoy emerged from their hands-on experience, aiming to let engineers focus on core apps rather than maintaining webhooks; early traction included the 2022 pre-seed raise to scale globally from Lagos.[1][3]
Frain rides the API-first and event-driven architecture trend, where webhooks power real-time integrations in fintech, e-commerce, and SaaS amid exploding microservices demand.[3] Timing aligns with Africa's dev-tool boom and global shift to cloud-native tools, as businesses avoid custom infrastructure costs amid Kubernetes and serverless growth.[1][3][6] Market forces like rising API usage (e.g., payments-to-delivery flows) favor Frain, positioning it against tools like Webhook Relay while influencing Africa's ecosystem by championing open-source dev tools from Lagos.[1][3] This empowers emerging markets to build world-class software faster, reducing global reliance on US/EU incumbents.[2][3]
Frain is poised to expand Convoy's client base, launch dependency management dashboards, and grow its product suite post-2022 funding, targeting more webhook users worldwide.[1][3][5] Trends like AI-driven APIs, zero-trust security, and Africa's dev talent surge will shape its path, potentially evolving it into a full dev platform like GitLab.[3] As Nigerian dev tools gain traction, Frain could amplify Lagos as a global hub, delivering scalable infrastructure that lets developers ship faster from anywhere—echoing its mission to build for the world.[3]