Nigeria‑founded fintech startup Hizo raises Friends & Family funding to simplify local‑currency transfers across borders.
Expansion through Strategic Seed Funding
Nigerian fintech startup Hizo has successfully raised a US $100,000 seed round from “friends and family to accelerate its Pan-African remittance ambitions. Unlike traditional funding rounds that often involve institutional investors, Hizo’s community-focused approach reflects its mission to build a product rooted in African experiences and needs.
Addressing an Intra‑Africa Payments Gap
Africa’s cross-border payments ecosystem has long been dominated by foreign currencies like the US dollar, burdening individuals and businesses with excess fees and slow processing. Hizo seeks to change this by enabling Nigerians to send, receive, and directly spend naira across 14 African nations—bypassing foreign currency conversions entirely.
As CEO Victor Chiedu puts it: “Most remittance platforms prioritize money coming from the West, often overlooking the significant value Africans exchange among themselves daily. We’re creating a product for the real, everyday economy—built for Africans by Africans.”
This vision is central to Hizo’s strategy: facilitating “real, everyday” financial flows within Africa.
Investment Focus: Product, Growth, Team
Hizo plans to deploy the seed capital across four key areas:
- Product innovation: scaling up its digital remittance infrastructure and adding features that enhance user experience.
- Market expansion: increasing awareness and uptake among small businesses, travellers, and diaspora communities across Africa.
- Team development: ensuring operational agility and capacity to manage growing user demand.
- Inclusive funding: According to Chiedu, the Friends and Family approach was designed to encourage community-based funding and access.
Chiedu emphasises the round’s underlying philosophy: “We intentionally targeted investors who share our core vision and deeply understand the economic and social value of our solution.”
Empowering Everyday Financial Connectivity
Hizo’s platform enables users to conduct currency conversions from naira to local currencies—making spending abroad simpler and more transparent. In addition to bank transfers, the system supports mobile money wallets where available, ensuring comprehensive reach.
From a trade and investment perspective, Hizo aligns with broader economic integration efforts such as the African Continental Free Trade Area (AfCFTA). By reducing friction in local-currency exchange, the startup is poised to support SMEs, freelancers, and travellers as they transact across the continent.
Looking Ahead: Scaling Pan‑Africa
Armed with fresh funding and early traction in Nigeria, Hizo is setting its sights on deeper expansion—including onboarding additional currencies, partnering with regional remittance aggregators, and potentially securing institutional financing.
Hizo’s US$100K round marks a promising step towards closing intra-African payment gaps. As it enhances its platform, expands across borders, and deepens support infrastructure, the startup is well-positioned to drive seamless, cost-effective remittance solutions—fueling both trade and financial inclusion across the continent.
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