Business · Companies · 2 days ago
CapitalSage completes acquisition of payments startup Chimoney
CapitalSage Vantage, a subsidiary of CapitalSage Holdings, has completed its acquisition of Chimoney, a Nigerian-founded payments startup.
Chimoney announced in May that it had stopped processing transactions because it lacked enough capital to keep operating.
It began refunding customer balances, and businesses that used its payment services were left without those services.
The deal repaid all investors, and 31 individuals and firms received payments, but its value was not disclosed.
Chimoney is now accepting business clients and processing payments again through its system for cross-border collections, payouts and multi-currency wallets.
Its consumer app has relaunched as Tiki, offering remittances from Canada and the UK to African markets including Nigeria and The Gambia.
The acquisition gives CapitalSage access to Chimoney’s Canadian payments infrastructure and a platform for expanding cross-border payments.
CapitalSage Vantage Limited has completed its acquisition of Chimoney, a Nigerian-founded payments startup that had announced a shutdown after running out of capital.
The all-cash deal repaid every investor and provided transaction proceeds to the team, founder Uchi Uchebeke said.
Chimoney has resumed accepting clients and processing transactions under its new ownership.
Its consumer-facing app has relaunched as Tiki, a remittance service targeting customers in Canada and the United Kingdom.
The deal value was not disclosed.
- Who
- CapitalSage Vantage Limited acquired Chimoney, the company behind Chi Technologies Inc.
- What
- The all-cash acquisition brought the startup under new ownership and back into operation.
- When
- The acquisition was reported on October 9, 2026. CapitalSage signed an agreement to acquire the business in June.
- Where
- Chimoney is Nigerian-founded, and its payment infrastructure includes Canadian operations. Tiki targets customers in Canada and the United Kingdom.
- Why
- Chimoney had announced a shutdown after running out of capital. The acquisition gives CapitalSage access to Chimoney’s payments infrastructure.
This story does not have two clearly opposing sides.
Every investor has been repaid in full, and the team has received its transaction proceeds.
The biggest issue was distribution, but also related to that is liquidity.
We built a platform to orchestrate multiple payment methods.
Chimoney told customers it had stopped processing new transactions and integrations, citing insufficient capital.
CapitalSage signed an agreement to acquire the business, four weeks after the shutdown announcement.
Uchibeke told TechCabal that customer acquisition and liquidity were Chimoney’s biggest challenges.
TechCabal reported that CapitalSage Vantage had completed the acquisition.
- Buyer
- CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings
- Company acquired
- Chi Technologies Inc., the company behind Chimoney
- Deal type
- All-cash acquisition
- Recipients paid
- 31 individuals and firms
- Deal value
- Not disclosed
- Remittance app
- Tiki, targeting customers in Canada and the United Kingdom
Sources
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