Capi, a trailblazer in streamlining cross-border payments for African businesses, proudly announces a successful funding round of $18.5 million. This significant capital injection will position the company to revolutionize how African importers pay their overseas suppliers, offering unprecedented speed and competitive pricing. Currently, importers in Africa often face delays and are required to pay up to 10% extra just to settle invoices—a challenge that Capi is determined to overcome. The company’s innovative platform leverages cutting-edge financial technology to ensure that African businesses can now enjoy the same efficient payment processes that are standard in the US and Europe. By trimming down lengthy waiting periods and reducing costly fees, Capi is set to transform the continent’s import landscape and unlock growth opportunities for its clients.
Backed by industry-leading investors such as Firstminute Capital, Y Combinator, General Catalyst, Raba, Kima Ventures, Africa Fintech Collective, Musha Ventures, Four Cities, former a16z and YC partners (including Paul Graham), as well as scouts from a16z and Sequoia, and seasoned co-founders and operators from renowned companies like Onfido, Taptap Send, McKinsey, Earnest, GiveDirectly, and Turquoise Mountain, Capi’s robust support network speaks volumes about its potential in the fintech market. The fresh funding will be strategically allocated to expanding market reach, scaling operations, and further enhancing its secure payment infrastructure. With a clear mission to match global speed and efficiency standards, Capi is well-positioned to accelerate the transformation of trade finance in Africa, ensuring that businesses can thrive in an increasingly interconnected global economy.
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