Introduction

CapitalSage completes its all-cash acquisition of Chimoney, the Nigerian payments startup that shut down in May after exhausting funding. The deal restarts the platform as Tiki, a remittance service linking Canada and the UK to African markets.

What Happened

Chimoney halted operations in May 2026 after running out of capital, suspending transactions and initiating customer refunds. Five months later, CapitalSage Vantage Limited finalized the purchase, ensuring all investors were repaid in full and the team received transaction proceeds. The acquisition includes Chimoney's B2B payment APIs and the newly relaunched Tiki app.

Why This Matters

The transaction restores continuity for businesses relying on Chimoney's multi-currency wallet and API infrastructure while giving CapitalSage a foothold in Canada's regulated payments market through existing Bank of Canada and FINTRAC registrations. Tiki's launch expands remittance access for African diaspora communities, and the deal highlights the consolidation trend in African fintech.

Key Takeaways

  • CapitalSage acquired Chimoney five months after its shutdown, repaying all investors.
  • The Chimoney app relaunched as Tiki, a remittance service for Canada/UK to Nigeria and Gambia.
  • Chimoney's B2B API platform continues under new ownership, supporting cross-border collections, payouts, and multi-currency wallets.
  • CapitalSage gains Canadian regulatory registrations, broadening its cross-border payments network.
  • Founder Uchi Uchibeke transitions to a new AI infrastructure startup, APort, while five team members remain with the business.

Conclusion

The Chimoney-CapitalSage transaction marks a rare positive exit in a challenging fintech funding environment. It preserves critical payment infrastructure, delivers returns to investors, and opens a new remittance corridor for African diaspora communities. Uchibeke's transition to APort signals continued innovation in Africa's growing tech ecosystem.