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
-
Tanzania, Burundi and DRC Advance Joint SGR Corridor Linking to Dar es Salaam
05:32
-
Cameroon’s Vice Presidency Reform: A Response to Political Risk Weighing on Sovereign Ratings
20:33
-
Russia, Facing Western Sanctions, Looks to Egypt for Grain and Energy Hub
20:28
-
Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
20:24
-
Djibouti Launches No-Degree Coding School to Tackle Digital Skills Gap
20:05
-
Ghana's 3Farmate Bets on Robotics to Transform African Farming
14:49
-
Togo Exceeds Bond Target as Strong Demand Drives 4x Oversubscription
14:46
-
IMF appoints Mauritania’s Zeidane to head Africa Department
18:56
-
BCEAO sets June 30 deadline for operators to join instant payment platform
18:52
-
Cameroon higher education group plans microfinance bank for student startups
18:34
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...
ECOWAS and IMF sign cooperation framework to strengthen policy alignment West Africa’s grow...
Coca-Cola will invest $1.03 billion in South Africa by 2030 to expand capacity and distributi...
West African Development Bank plans CFA6,500 billion ($11.5 billion) in financing for 2026–2030. ...
Three nations approve feasibility progress for cross-border SGR project Railway to link cities, boost trade via Dar es Salaam Project faces...
Putin proposes Russia-Egypt grain and energy hub to boost trade Egypt seen as strategic hub for redirected Russian exports Project faces uncertainty...
Djibouti launches École 42 digital training network with international partnership Program offers peer-learning, no degrees, focusing on practical tech...
Failing to anticipate market shifts can be costly for African businesses operating in increasingly competitive and volatile environments. Yet many still...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...
The Bijagos Archipelago, located off the coast of Guinea-Bissau, stands as one of West Africa’s most extraordinary island systems. Made up of around forty...