London’s VertoFX raises $2.1 mln to reinforce footprint in Africa
Monday, 22 July 2019 16:21
London-based payment service provider VertoFX, which operates a subsidiary in Nigeria, raised $2.1 million with a consortium of investors led by Accelerated Digital Ventures.
The payment company founded in 2017 by two former Nigerian-born British bankers (Anthony Oduwole and Ola Oyetayo) will use these resources to develop its payment solutions in emerging markets including Africa. VertoFX is also considering obtaining licenses to carry out international payment transactions in high-potential markets and expand its geographical reach across the continent.
“We are in the early stages of helping businesses in emerging markets solve a significant problem they currently face and the funds we have raised will help put some fuel in our bus for the journey. We are glad to have them and everyone else that participated in the round on board,” co-founder and CEO Ola Oyetayo said.
Chamberline MOKO
Live News
-
In Cameroon, a Cascade of Microfinance Failures Alarms Savers
09:58
-
Moroccan Bottler ECCBC Invests $77.6 Million to Grow Its Operations
09:11
-
Wafa Assurance to Buy Controlling Stake in Egypt's Delta Insurance
08:59
-
Malawi Bans Unprocessed Mineral Exports to Force Local Value Addition
08:42
-
Ivorian Sébastien Kouassi launches EmploiRapide.Net to tackle youth unemployment
15:45
-
Chad names Zara Ahmed Sedick to head newly created AI Directorate
15:17
-
São Tomé and Príncipe, FAO launch platform to digitize agriculture
14:57
-
Paul Biya declared winner of the presidential election with 53.7% of votes cast
13:34
-
Gabon Pilots Digital Overhaul of Its Tax and Social Funds
10:07
-
Afreximbank New President Elombi's Vision: Industrialisation, Trade, and Digital Expansion
09:07
Sonatel is a major telecom company in West Africa that investors trust, offering steady growth and...
Wave launches Wave Bank Africa in Côte d'Ivoire with $32M capital Move follows €117M fu...
Cameroon's Constitutional Council declared Paul Biya the winner of the presidential election, secu...
ECOWAS will integrate AI into its early warning systems to strengthen crime prevention and intelli...
NGE wins two contracts for sanitation, coastal protection in Senegal Projects target Dakar’s Hann...
ECCBC invests $77.6M to expand Morocco plant, boosting output by 40% New lines produce soft drinks and water for growing $1.1B...
Lindian Resources says Malawi export ban won’t affect Kangankunde project Malawi bans raw mineral exports to boost local processing and...
Seychelles and Mauritius top Africa’s investment rankings for 2025/26 Côte d’Ivoire climbs eight spots, Nigeria drops nine amid reforms Report ranks...
Algeria dismissed Sonatrach CEO Rachid Hachichi after two years in office. Noureddine Daoudi becomes the third CEO in less than six years. Sonatrach...
The Eyo Festival, also known as the Adamu Orisha Play, stands among the most iconic cultural events in Lagos, Nigeria. This traditional Yoruba procession,...
Asmara, the capital of Eritrea, is often described as Africa’s modern city for its remarkable architectural heritage and forward-thinking urban design....