Nigerian Startup Zone Secures $8.5 Million in Seed Funding

Nigerian Startup Zone Secures $8.5 Million in Seed Funding

Nigerian Startup Zone Secures $8.5 Million in Seed Funding

Zone, a Nigerian fintech startup specializing in blockchain-based payment solutions, recently secured $8.5 million in a seed investment round. This funding aims to bolster the company’s foray into cross-border payment solutions, with a significant trial scheduled for 2025.

Zone’s Seed Funding Success

In its latest financial milestone, Zone attracted $8.5 million from a seed funding round that saw participation from notable investors, including Flourish Ventures and TLcom Capital, with additional support from the Digital Currency Group (DCG), Verod-Kepple Africa Ventures (VKAV), Alter Global, and Endeavor Catalyst. The round not only met but exceeded its target, highlighting strong investor interest in Zone’s innovative payment solutions.

The infusion of funds is earmarked for expanding Zone’s payment infrastructure and fostering partnerships with an increased number of banks and financial services providers. Specifically, an undisclosed portion of the capital will be allocated to the expenses related to testing Zone’s capabilities for cross-border transactions in 2025.

Nigerian Startup Zone Secures $8.5 Million in Seed Funding

With ambitions of evolving into a comprehensive global payments network, Zone is poised to extend its reach within Africa, strengthening its position in the market. Obi Emetarom, CEO and co-founder of Zone, expressed gratitude towards the investors for their faith in the company’s strategic direction and ability to redefine payment infrastructures.

Emetarom highlighted the importance of the funding in propelling Zone towards its mission of facilitating instant payment transactions, both locally and internationally.

Ameya Upadhyay, representing Flourish Ventures, lauded Zone’s innovative approach to enabling seamless communication within the payment ecosystem, describing it as a significant advancement. Upadhyay also voiced enthusiasm for Zone’s potential to inspire payment innovations across various regions, leveraging the startup’s groundbreaking technology.

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