By Precious Mark
CapitalSage Vantage has signed an agreement to acquire Canadian payments infrastructure provider Chimoney in a strategic move expected to strengthen cross-border payments, remittances and digital financial services across more than 130 countries.
The company announced the transaction on Thursday, stating that the acquisition forms part of its broader plan to build a globally connected financial services network serving Africans, businesses and diaspora communities across Africa, North America, Europe and the Middle East.
Under the agreement, CapitalSage Vantage will integrate Chimoney’s payments infrastructure into its growing portfolio, expanding its international payments capabilities and regulatory reach while improving access to financial services for consumers, enterprises and developers operating across multiple jurisdictions.
Chimoney, headquartered in Toronto, Canada, provides multi-currency wallets, global payout solutions, developer APIs and digital identity services, with operations reaching more than 130 countries.
Abiola Bawuah, the Group Chief Executive Officer of CapitalSage Vantage, said the transaction would help create a stronger financial services platform capable of connecting Africans around the world.
“This acquisition creates the foundation for a new generation of financial services platforms designed to serve Africans globally, connecting diaspora users with families, businesses and opportunities across the continent through a more integrated financial ecosystem.”
Uchi Uchibeke, the Founder of Chimoney, said the company would retain its technology, products and customer relationships while benefiting from greater scale and institutional support.
According to him, the deal would enable Chimoney to accelerate growth, enter new markets and deliver greater value to customers through the broader CapitalSage Vantage network.
The acquisition is expected to drive innovation in cross-border payments, embedded finance, digital commerce and business payment solutions, while reinforcing Africa’s growing influence in the global financial technology sector.
CapitalSage Vantage currently operates businesses focused on international payments, remittances and digital wealth management, with activities spanning Canada, the United States, the United Kingdom, the United Arab Emirates and several African markets.
The transaction remains subject to regulatory approvals and other customary closing conditions.