Lagos-based fintech startup Hizo has raised $100,000 in a friends-and-family seed funding round to advance its goal of simplifying intra-African money transfers and enabling seamless transactions in local currencies across borders.
Currently in its pilot phase, Hizo is building a cross-border remittance and payment platform focused on Africa’s largely underserved intra-continental financial ecosystem. Unlike many existing solutions that rely on converting local currencies into U.S. dollars or euros before cross-border transfers, Hizo is designed to allow direct local currency transactions across 14+ African countries, starting with support for the Nigerian Naira (₦).
Solving the Hidden Cost of Cross-Border Transactions in Africa
Most money transfers within the continent are routed through non-African currencies, which significantly increases transaction costs and delays.
“Cross-border transactions within Africa are typically routed through foreign currencies like the U.S. dollar,”
said Victor Chiedu, Co-founder and CEO of Hizo.
“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.”
By removing reliance on USD-based routes, Hizo reduces conversion layers, improves transaction speed, and allows users — both individuals and small businesses — to send, receive, and spend local currencies seamlessly.
Backed by Community, Built for Africa
The recently secured $100,000 in pre-seed funding will be used to scale the startup’s product development, expand to more African markets, and grow its core team.
“We chose backers who deeply understand our mission and want to be part of a lasting change,”
said Chiedu.
“It’s more than fundraising — it’s about building a value-driven community around African financial inclusion.”
While still in its early stages, Hizo’s mission has already attracted the interest of pan-African operators, developers, and advocates working to improve access to efficient digital finance tools across the continent.
A Growing Need for Africa-Centric Fintech
As AfCFTA (African Continental Free Trade Area) gains momentum and cross-border trade rises, fintech platforms like Hizo are essential to unlocking the continent’s full economic potential. According to the World Bank, intra-African remittance corridors remain among the most expensive in the world, and legacy systems often exclude informal workers, youth, and SMEs.
Hizo is stepping into this gap, offering a simpler, cheaper, and more inclusive way to move money across African borders — all while promoting financial sovereignty.
What’s Next for Hizo?
The startup plans to:
Work toward regulatory partnerships to ensure compliant, scalable growth
Launch full operations beyond its current pilot rollout
Onboard more users and partners across East, West, and Central Africa
Introduce advanced features such as multi-currency wallets and business payment tools
