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
-
Gabon Announces Poultry Loan Scheme via BCEG, Targets Chicken Import Ban by 2027
15:49
-
South Africa Declares State of Disaster After Floods Kill Dozens, Damage Infrastructure
15:43
-
Cameroon palm oil output drops 39.7% in Q2 2025 amid structural constraints
15:02
-
Mamadi Doumbouya Sworn In as Guinea’s President, Vows Inclusive Governance
14:54
-
Buenassa Eyes Chemaf Acquisition To Secure Long-term Refinery Supply
14:39
-
Pipeline to Prosperity: Kenya Power Corporation's IPO Faces a Real-World Test
14:25
-
Cameroon domestic gas demand jumps 72.6% in Q2 2025, driven by imports
14:14
-
Togo Clears Land For Coastal Protection Project WACA ResIP
14:08
-
Togo Plans 14.2 Billion CFA Francs in Fuel Subsidies for 2026
12:22
-
New MSMI Director, Blaise Batongue, Targets SME Expansion in Cameroon’s Industrial Maintenance Sector
10:26
Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...
Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...
Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...
Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...
Microfinance deposits in Togo increased by CFA11.9 billion, a 2.7% rise in the second quarter of 2...
Gabon’s BCEG grants 360 million CFA loan to BTF Farming Funding aims to boost poultry, fish and crop production capacity President announces...
South Africa declares national disaster after deadly floods and storms Severe weather kills dozens, damages homes, infrastructure across...
Mamadi Doumbouya sworn in as Guinea’s president on Jan. 17 He pledges unity, inclusive governance, jobs and institutional integrity Guinea...
Kenya will sell up to 65 percent of Kenya Pipeline Company by January 2026, seeking about 100 billion shillings to support budgets and...
Bamako hosted the first International Festival of African Documentary (FIDAB) from January 16 to 18, 2026, screening 12 African films. UNESCO...
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...