Capi Money is excited to announce that it has raised $17,200,000 in our latest funding round, marking a major milestone in our journey to revolutionize cross-border payments and empower businesses in Africa. At Capi, we understand that African businesses have long been burdened with archaic payment systems—importers often end up paying up to 10% to settle an invoice and experience agonizing delays of several weeks before receiving funds. Our mission is clear: to provide businesses across the continent with the same competitive edge in price and speed that companies in the US and Europe have come to expect. With this new infusion of capital, we plan to further develop our innovative payment platform and streamline the process by which African importers pay overseas suppliers, reducing costs, eliminating inefficient payment mechanisms, and ultimately fueling smoother trade flows.
Our growing impact has been bolstered by the enthusiastic support of a group of illustrious investors, including Firstminute Capital, Y Combinator, General Catalyst, Raba, Kima Ventures, Africa Fintech Collective, Musha Ventures, Four Cities, and notable figures from a16z and YC, along with scouts from a16z and Sequoia. We are also proud to be supported by experienced partners from the likes of Onfido, Taptap Send, McKinsey, Earnest, GiveDirectly, and Turquoise Mountain. Their confidence in our vision not only validates our mission but also reinforces our commitment to transform how international business is conducted in Africa. As we expand our operations and enhance our technological framework, we are driven by the promise of a future where African businesses can thrive on a level playing field in the global market.
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