CapitalSage Vantage Limited, a subsidiary of the Group, has acquired Chi Technologies Inc., the parent company of Chimoney, the Canada-based cross-border payment infrastructure startup, four weeks after its shutdown announcement.
“I’m looking forward to Chimoney continuing its mission to unlock economic opportunities for everyone under the CapitalSage umbrella and structure. I’m confident the team will scale up governance, liquidity, and go-to-market capabilities,” Uchi Uchibeke, founder and CEO of Chimoney, said.
The acquisition will herald Capitalsage’s entry into the Canadian market.
Know more about CapitalSage and Chimoney.
CapitalSage Holdings is well known in the ecosystem for its financial products, including Kolomoni. It raised ₦2.2 billion ($4 million) in debt, which was among the largest debt raises by an African financial technology startup in 2021. Its other subsidiaries are producers of FMCG products under the John Vents Cocoa Products brand.
Chimoney was founded in 2022 by Uchi Uchibeke. Chimoney enabled businesses to pay freelancers and vendors in 41 currencies across Africa, North America, and Latin America. All with a single API. Its thesis was to build a payment infrastructure that makes cross-border money movement as seamless as sending a message. It supported bank transfers, mobile money, airtime, gift cards, and stablecoin rails for off-ramps.
In 2023, it joined the Techstars Toronto accelerator. Chimoney raised less than $1 million in total funding. It acquired Scrim, a social payments app, in 2023.
Read also: Cross-border payment startup, Chimoney, shuts down after raising only $1 million in four years
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Last updated: June 16, 2026
