The race to build globally connected financial infrastructure from Africa is gathering momentum as CapitalSage Vantage moves to expand its international footprint through the acquisition of Toronto-based payments infrastructure provider Chimoney.
The transaction, which remains subject to regulatory approvals and customary closing conditions, signals a growing trend among African financial technology firms seeking to move beyond domestic markets and establish broader participation in global payments, remittances and digital financial services.
By acquiring Chimoney and its subsidiaries, CapitalSage Vantage gains access to a payments network spanning more than 130 countries, significantly expanding its ability to facilitate cross-border transactions and financial connectivity across Africa, North America, Europe and the Middle East.
The deal comes at a time when cross-border payments have become one of the fastest-growing segments of the global financial services industry, driven by rising migration flows, digital commerce, remote work, and increasing demand for faster and cheaper international money transfers..
The acquisition positions CapitalSage Vantage to compete more aggressively in a market increasingly dominated by firms offering integrated payment rails, digital wallets, remittance services and embedded financial products across multiple jurisdictions.
The deal centres on Chimoney’s cross-border payments infrastructure, which provides multi-currency wallet solutions, international payout capabilities, developer APIs and digital identity services for businesses operating across global markets.
The platform’s regulatory credentials are also expected to strengthen CapitalSage Vantage’s compliance and operational capabilities. Chimoney is registered with the Bank of Canada as a Payment Service Provider and with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business.
Abiola Bawuah, group chief executive officer of CapitalSage Vantage, described the deal as a notable step toward creating a more integrated financial ecosystem for Africans at home and abroad.
According to her, the acquisition lays the foundation for a new generation of financial services platforms capable of connecting diaspora communities with businesses, families and investment opportunities across the continent.
“This acquisition creates the foundation for a new generation of financial services platforms designed to serve Africans globally, connecting diaspora users with families, businesses and opportunities across the continent through a more integrated financial ecosystem,” she stated.
CapitalSage Vantage’s portfolio already includes businesses operating across international payments, remittances and digital wealth management, with operations and strategic relationships spanning Canada, the United States, the United Kingdom, the United Arab Emirates and several African markets.
For Chimoney, the transaction provides access to larger institutional backing and additional resources to accelerate growth and market expansion.
Uchi Uchibeke, founder of Chimoney, said the company’s technology, products and customer relationships would remain intact while benefiting from the broader scale and capabilities of the CapitalSage Vantage ecosystem.
“Chimoney is continuing its journey with greater scale and institutional backing. The
technology, team, products and customer relationships that made Chimoney a trusted platform remain firmly in place. What changes is our ability to accelerate growth, expand into new markets and create greater value through the broader CapitalSage Vantage ecosystem,” Uchibeke said.
The acquisition is also expected to create new opportunities across embedded finance, digital commerce, business payments and wealth management services, sectors that continue to attract significant investment globally.
