Aboki Africa Secures Pre-seed Funding

Aboki Africa has announced it completed a pre-seed funding round led by Abdul Hassan (CEO of Mono), alongside Niche Capital Limited, Ingressive Capital, and other strategic investors.

Launched in June 2020, Aboki Africa aims to simplify the process of currency exchange.

In a blogpost, the company wrote, “We had a new goal in mind: simpler processes needed to start somewhere, and we were going to make that happen.

“We released our updated product with a mission to build “TransferWise for Africa”, as Idorenyin, one of our co-founders, puts it.

“Fast forward to now, we think that what we have been able to achieve as a team is impressive.”

According to founders, Idorenyin Obong and Femi Aghedo, the platform is the easiest way to send and receive international payments without restrictions. The platform currently offers GBP and EUR foreign accounts to its customers with USD and other currencies coming soon.

Co-founder and COO, Femi Aghedo said, “We built Aboki Africa out of necessity. I have had personal experiences with the pain points we are trying to alleviate. People who work and do business remotely should not have to jump through hoops to receive payments. We are fixing that.

“We are proud of the team that we have built and how far we have come. It is remarkable to see how much we have accomplished with a small, passionate team, and we’re excited that we have the best partners backing us.

With this new funding, we will primarily invest in scaling our product and expanding our core team. We will be hiring soon and, all future openings will be available here.”