A US $100,000 “friends and family” seed round of funding was raised by Nigerian fintech startup Hizo to further its goal of making intra-African money transfers easier and allowing users to send, receive, and spend local currencies without difficulty across borders.
Hizo is a remittance platform that is currently in its pilot phase and focuses on the frequently overlooked intra-African financial ecosystem. In over 14 African nations, it facilitates Naira payments and transfers, enabling people and small enterprises to function more effectively in an international marketplace.
“Cross-border transactions within Africa are typically routed through foreign currencies like the U.S. dollar,” said Victor Chiedu, the startup’s CEO. “This drives up cost and complexity. We’re building a platform by Africans, for Africans – a system that supports local currencies across borders without foreign intermediaries.”
Funding of US $100,000 has been raised by the startup and will be used to support important growth areas like team building, market expansion, and product innovation.
“We chose backers who deeply understand our mission and want to be part of a lasting change,” Chiedu said. “It’s more than fundraising – it’s about building a value-driven community.”
