Aboki Africa is a new fintech startup that was launched in June 2020, Lagos, Nigeria, that renders the services of providing foreign accounts for Africans.
It is a new Fintech startup that currently offers British Pound (GBP) and Euro (EUR) accounts with plans to add the United States Dollar (USD) accounts for their customers soon. The company was launched early last year with the aims of making foreign exchange processes easier and more available for Africans, and thus, started at what they call home, here in Nigeria.
Aboki Africa, whose founders are Idoreyin Obong and Femi Aghedo, recently raised pre-seed funding, led by Abdul Hassan, CEO of Mono. Other investors are Niche Capital Limited, Ingressive Capital, and other strategic investors.
The new company has however started on its mission of bringing about other international payment-related processes. “We are building TransferWise for Africa”, Idorenyin, one of the co-founders said.
According to the founders, Aboki Africa makes sending and receiving international payments easier and without barriers or restrictions. It now allows its growing customer base to create foreign bank accounts and to get its own IBAN (International Bank Account Number). As well as to be able to transfer money anywhere in the world from their accounts.
Femi Aghedo, a co-founder of Aboki Africa 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.”.
In other to gain funds enough for the mission and vision of Aboki Africa, the company hopes to focus on scaling its product and enlarging its team members to help it reach more Africans in need of exchanging payments in other currencies other than their African own.