Nigeria: Hizo Raises $100k to Facilitate Intra-African Money Transfers

23 June 2025
Daba Finance (Abidjan)

TLDR

  • Nigerian fintech startup Hizo has secured a $100,000 "friends and family" seed round
  • Hizo enables users to send, receive, and spend local currencies seamlessly across 14+ African countries
  • Unlike many remittance platforms that depend on USD corridors, Hizo focuses on local currency liquidity

Nigerian fintech startup Hizo has secured a $100,000 "friends and family" seed round to accelerate its mission of simplifying intra-African money transfers. Still in its pilot phase, Hizo enables users to send, receive, and spend local currencies seamlessly across 14+ African countries--without routing through foreign currencies like the U.S. dollar.

"Intra-African payments are broken," said CEO Victor Chiedu. "Hizo is a platform built by Africans, for Africans--to make local currency transfers affordable, fast, and borderless."

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Unlike many remittance platforms that depend on USD corridors, Hizo focuses on local currency liquidity, empowering individuals and small businesses to transact natively across borders. The funding will be used to fuel product development, regional expansion, and team growth.

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Key Takeaways

Africa's fragmented payment infrastructure often forces local trade through expensive and inefficient dollar-based routes. Startups like Hizo are disrupting this dynamic by building multi-country FX-lite ecosystems tailored to real African users, from informal merchants to remittance-receiving families. With 14+ currencies supported and a lightweight, mobile-first interface, Hizo is shaping a vision of borderless African commerce, targeting a massive opportunity ignored by traditional players. The startup's early traction underscores growing demand for homegrown solutions to Africa's $20+ billion intra-continental remittance market. Backed by a mission-driven investor community, Hizo is betting that the future of African payments is African--fast, affordable, and local-currency first.

Read the original article on Daba Finance.

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