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Kenyan-based Kotani Pay, a USSD-Enabled Payment Stack for Blockchain Protocols, Closes Seed Round

Kotani Pay, a USSD-based payment stack that offers end-to-end APIs to enable blockchain-based protocols, dApps, and fintechs integrate seamlessly with local payment channels in Africa, has raised an undisclosed seed round.

The seed round was led by:

  • Flori Ventures
  • P1 Ventures
  • Wuri Ventures
  • Peer VC
  • Allegory Capital
  • Random Canon Investment
  • First Helm LLC
  • Luno Expeditions
  • RCA Ventures

According to Kotani Pay. the funds raised will mainly help ‘support operations and aid expansion to jurisdictions across the African continent.’

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SEE ALSO: 4 Kenyan Startups Building Innovative Solutions on the Celo Blockchain

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In an exclusive with BitKE, Felix Macharia, CEO, Kotani Pay, said:

“We are delighted to have such industry astute VCs backing our mission to connect the unbanked and underbanked to blockchain services. Kotani Pay APIs are built to enable a connection with local payment channels in Africa and interfaces users on the continent are familiar with like sms and ussd.

We will be using the proceeds from this round to grow our team and footprint across 6 other African countries.”

– CEO, Kotani Pay

Kotani Pay is primarily focused on enabling local payment channels via mobile money services. The on and off-ramp service has already integrated with some of the more dominant mobile money payment services that includes:

  • MPESA
  • Airtel Money
  • MTN Money

Kotani Pay is also supporting the cUSD (Celo Dollar) which is a stable currency that tracks the price of the U.S. dollar.

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RECOMMENDED READING: Kenyan-based USSD-Crypto Payments Startup, Kotani Pay, Wins $100, 000 Grant and Goes Live on the Celo Blockchain

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