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
-
Zazu, Visa roll out digital business accounts for Moroccan SMEs
14:54
-
Cameroon approves diaspora-led CFA500bn Resort City project in Limbe
14:21
-
Accra Reset: Ghana’s Bid to Reshape Global Health Power
13:28
-
Liberia’s Power Utility Turns to Remote Monitoring to Tackle Power Theft
13:05
-
Madagascar, IMF reach preliminary agreement on $183 mln disbursement
12:49
-
Afreximbank Posts Record Profit in 2025 but Model Quality Will Require Some Watch
12:40
-
Togo fisheries output seen at 33,977 tons in 2026, down 6%
09:02
-
DR Congo lobbies Togo to back its candidate in OIF leadership race
08:49
-
Cocoa regains edge over robusta in Cameroon, still far below government targets
05:06
-
Cameroon’s trade deficit widens 23% in 2025 despite import substitution push
05:04
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Ghana launches “Accra Reset” panel to reform global health governance Initiative seeks stronger Global South role in decision-making Move...
Liberia deploys system to detect illegal electricity connections Technology flags anomalies, enables remote disconnection of power Move aims...
IMF reaches preliminary deal to disburse $183 million to Madagascar Funding tied to programme reviews, targets infrastructure and...
Afreximbank crossed the $1 billion net profit threshold in 2025 for the first time, a milestone driven by balance-sheet expansion and a maturing...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...