Capi Money, an innovative platform aimed at helping businesses throughout Africa facilitate payments to their international suppliers, has successfully raised €17.2 million in its Series A investment round. This funding will be utilized to scale its international payments platform, which is specifically designed for small and medium-sized enterprises (SMEs) in emerging markets, with a primary focus on Africa, Latin America, and China.
This significant fundraising effort was spearheaded by Creandum, with participation from Janngo, several angel investors, and existing stakeholders including prominent firms such as Y Combinator, Firstminute Capital, Four Cities Capital, The Raba Partnership, Kara Ventures, Rebel Fund, Maiora Ventures, and Pioneer Fund.
This funding allows Capi Money to expand the team, launch new markets, and accelerate product development. But more than that, it fuels their mission of growing GDP in emerging markets by making the global financial system fairer and more accessible.
“For millions of small businesses across developing countries, paying international suppliers is frustrating, expensive, and slow. Capi Money is changing that with a platform that allows importers to pay invoices in under 48 hours—reliable, fast, and free of middlemen,” said Creandum in a statement.
Founded in 2023 by Mitch Riley, Scott Liddle, and Tom Watson, Capi Money is dedicated to addressing a significant challenge faced by businesses in Africa, Latin America, and Asia: the efficient payment of international suppliers. Importers in these regions often encounter high foreign exchange fees—averaging around 10%—along with delayed bank transactions and cumbersome paperwork, which collectively hinder global trade and drive up costs.
Capi Money’s platform enables businesses to settle invoices of up to $/€1 million within 48 hours, effectively removing intermediaries and lowering transaction expenses. Both Riley and Liddle have extensive experience in the financial sector, having previously held C-level roles at Taptap Send, a leading company in cross-border remittances across Africa, Asia, and Latin America.
While the consumer remittance space has seen considerable innovation, they recognized a gap in the business payments sector, where SMEs often grapple with slow and costly transaction processes. Tom Watson, a seasoned FinTech entrepreneur who co-founded and successfully exited Hubble, contributes his technical expertise to help scale the platform.
Since participating in Y Combinator just 13 months ago, Capi Money has expanded its operations to four African countries, generated multi-million-dollar revenues, and assembled a lean team of 13 professionals. With a user-friendly, self-service onboarding process and a 24/7 payments platform, Capi Money offers a promising solution for SMEs in need of swift and reliable international transactions.
Investors are optimistic about the company’s vision. “Capi Money has already achieved multi-million-dollar revenues in just 13 months with a small but mighty team,” remarked Creandum. “We are excited to continue this journey with them!”
With the recent funding round, Capi Money aims to further extend its reach, targeting the €382 billion import market in sub-Saharan Africa, according to World Bank data, while also planning expansions beyond this region. By providing SMEs with faster and more cost-effective international payment solutions, Capi Money is positioning itself as a pivotal player in the future of global trade.
