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
-
European consortium leads bid to build Kribi bitumen plant
05:16
-
Sambiani Yobe Takes Over As Head Of Togo Bar Association
05:14
-
Caledonia Mining plans $162.5mln Zimbabwe gold investment in 2026
05:02
-
Gabon uses civil service capacity to secure oil and gas revenues
04:59
-
Senegal lifts 4% export tax to revive peanut shipments in 2025-26
04:56
-
UNCTAD sees Africa growth edging up to 4% in 2026 despite inflation risks
04:49
-
Nathanael Yao Builds E-Commerce Platform for Abidjan’s Local Merchants
19:11
-
WattWallet Expands Digital Access to Prepaid Electricity in South Africa
19:06
-
Uganda: Essymart Digitizes Smallholder Farming
18:57
-
Okugo Uche Ayodele Bets on Remote Inspections to Cut Insurance Fraud
18:48
Development Partners International sold its 20.17% stake in Atlantic Business International for mo...
Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...
Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...
Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...
African startups raised about $3.1 billion in 2025, up from $2.2 billion in 2024, accord...
Investment targets Blanket mine, Bilboes development, and Motapa exploration. Bilboes construction accounts for $132 million of planned...
A new training phase for oil and gas officials runs from January to March. Hydrocarbons accounted for about 40% of GDP and nearly half of fiscal...
Senegal has removed a 4% tax on peanut exports for the 2025/2026 season. Authorities aim to export 300,000 to 450,000 tons after sharp declines in...
UN forecasts Africa growth at 4% in 2026 and 4.1% in 2027 after 3.9% in 2025. East Africa to lead growth, while Central and Southern Africa lag...
Located at the mouth of the Senegal River, about twenty kilometers from the Atlantic Ocean, Saint-Louis Island holds a distinctive place in the country’s...
Benin considers hosting a pan-African cultural event inspired by FESMAN but plans to use a different name. Culture Minister Jean-Michel Abimbola...