Lagos-based fintech startup Zone has announced the successful completion of an $8.5 million seed funding round, marking a major milestone in its mission to revolutionize the African payment landscape. The round was led by renowned international VC firms Flourish Ventures and TLcom Capital, demonstrating strong investor confidence in Zone’s vision.

What is Zone?

Zone is a rapidly growing payment infrastructure company specializing in blockchain technology. Its core offering is a decentralized payment network designed to power fast, secure, and interoperable transactions between African financial institutions. Zone has already gained traction, attracting over 15 major banks and fintech companies across the continent.

Africa’s current payment infrastructure often operates in silos, leading to fragmented, slow, and expensive transactions. Zone’s blockchain-driven network is positioned to tackle these challenges head-on, promoting cross-border connectivity and efficiency within the vast African financial sector.

The oversubscribed seed round underscores investors’ belief in Zone’s potential to become a dominant player in the African  fintech space. The company plans to channel the newly acquired funding into expanding its network coverage, onboarding more financial institutions, and driving adoption of its innovative payment solutions.

Zone’s success could have far-reaching positive implications for Africa’s burgeoning digital economy. A robust and integrated payment infrastructure is vital for streamlining e-commerce, supporting cross-border trade, and promoting financial inclusion throughout the continent.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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