CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, has signed an agreement to acquire Canadian payments infrastructure company Chimoney in a move aimed at strengthening cross-border payment services between Africa and Canada and accelerating the platform’s international expansion.
Upon completion of the transaction, Chimoney will become CapitalSage’s first payment entity in Canada, extending the multinational group’s presence beyond its existing operations across the United Kingdom, the United Arab Emirates, Nigeria, Kenya, The Gambia and other markets.
Founded in 2022, Chimoney has developed payment infrastructure that enables businesses to move money across borders through bank transfers, mobile money, airtime, stablecoins and Interledger-based payments spanning 41 currencies. The company serves customers across North America, Africa and Latin America.
The acquisition follows discussions focused on scaling Chimoney’s technology platform, regulatory capabilities and enterprise adoption. According to the company, the agreement provides for investors to be settled in full upon closing, while members of the Chimoney team will also participate in the transaction proceeds.
The deal will be completed in phases to accommodate re-registration requirements under Canada’s Retail Payment Activities Act. Once finalized, Chimoney will continue operating as a payments infrastructure platform focused on the Africa–Canada corridor while also pursuing plans to activate a payments corridor connecting Canada and the United States.
As part of the transition, key executives including Head of Product Faheed Alli-Balogun and Head of Operations Hammed Babatunde will join CapitalSage to support the platform’s next stage of growth. Chimoney founder Uchi Uchibeke will oversee the transition process, including the relaunch of the platform, client engagement and operational handover.
Commenting on the acquisition, Uchibeke said the partnership positions Chimoney to strengthen governance, liquidity and go-to-market capabilities while continuing its mission of making cross-border payments more accessible.
The agreement was signed during an event in Toronto and marks a notable development in financial technology collaboration between Canada and Africa. Both companies expect the transaction to support broader efforts to simplify international payments and improve connectivity between businesses operating across multiple markets.
Chimoney has previously participated in accelerator programmes including Techstars Toronto and Google for Startups Accelerator and maintains a partnership with the Interledger Foundation. The company is registered as a Money Services Business in Canada and operates within the country’s payment services regulatory framework.
