Grace Ashiru
Hizo, a Nigerian-founded fintech startup, has secured $100,000 in seed funding through a Friends and Family round that officially closed on June 4, 2025. The round, led by a prominent local angel investor, will support Hizo’s mission to streamline intra-Africa money movement, allowing users to send, receive, and spend their local currencies effortlessly across multiple African borders.
Historically, cross-border payments within Africa have largely depended on foreign currencies such as the US dollar. In response to this challenge, Hizo has developed a platform dedicated entirely to intra-Africa financial transactions. “Most remittance platforms focus on funds flowing from the West, often neglecting the substantial value Africans exchange among themselves daily,” said Victor Chiedu, CEO of Hizo. “We’re building a solution for the everyday economy—created by Africans, for Africans.”
Currently in its pilot phase in Nigeria, the platform enables individuals and small businesses to transfer funds and spend their naira seamlessly across more than 14 African countries without needing to convert into foreign currencies.
The seed funding will fuel Hizo’s expansion, technological advancement, and customer experience enhancements. The key areas of focus include:
- Product Innovation: Strengthening the technical infrastructure and introducing features that enhance user experience.
- Market Expansion: Growing the customer base through strategic marketing, heightened brand awareness, and active community engagement.
- Team Development: Investing in staff training to support operational scaling, ensuring the team is equipped with the skills necessary to drive growth and innovation.
Choosing a Friends and Family round underscores Hizo’s commitment to community-driven growth. “We deliberately selected investors who are deeply aligned with our mission and recognize the transformative potential of what we’re building,” Chiedu added. “This is not solely about raising funds; it’s about fostering a community grounded in shared values.”
With this initial round completed, the company aims to leverage the momentum to attract institutional investors and partners, while strengthening ties with regional financial institutions and mobile money providers.
This initial funding round will allow Hizo to expand its operations, upgrade its technology, and elevate customer experiences. The company’s main areas of focus include:
- Product Innovation: Strengthening technical infrastructure while rolling out user-friendly features.
- Market Expansion: Driving customer acquisition through targeted marketing efforts, heightened brand visibility, and active engagement with local communities.
- Team Development: Committing resources to staff training to support operational growth and foster innovation.
Choosing a Friends and Family round underscores Hizo’s commitment to community-driven growth. “We deliberately selected investors who share our mission and recognize the transformative impact of what we’re building,” explained Chiedu. “This isn’t merely about raising funds; it’s about building a community around shared values.”
With this initial funding in place, the company aims to position itself for future institutional investment and partnerships, while also strengthening ties with regional financial institutions and mobile money providers.
Hizo’s forthcoming plans include integrating additional African currencies and expanding collaborations with remittance aggregators, actively dismantling barriers to trade and commerce across the continent. By reducing reliance on foreign currency intermediaries, the startup seeks to empower Africans with true financial autonomy and connectivity.
“We imagine a future where an entrepreneur in Nairobi can seamlessly transact with a partner in Lagos using their local currencies,” Chiedu remarked. “It’s about delivering real financial independence across Africa.
