Aboki Africa, which aims to simplify the currency exchange process, has closed its pre-seed funding round.
The investment was led by Mono CEO Abdul Hassan, with capital also coming from Niche Capital Limited, Ingressive Capital and other unnamed strategic investors.
With the pre-seed capital, Aboki Africa hopes to scale its product and expand its core team.
The company provides people in Africa with the ability to open foreign bank accounts. Its app enables the user to receive and make payments, as well as convert currencies. It currently supports EUR and GDP, with USD support coming soon.
Aboki Africa 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.”
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