Congolese startup, Vault Pay, has received a full license from the Central Bank of Congo DRC to execute on its playbook to provide immediate payment options, user-friendly banking services, and tailored solutions distributed via telecommunications networks.
As stated by its creators, Vault Pay’s objective is to ‘facilitate effortless integration and unparalleled possibilities by empowering telecommunications companies to directly dispense banking services.’
In 2023, as reported by BitKE, Vault Pay was selected for the Y Combinator Summer 2023 (S23) class, alongside ChowCentral, a Nigerian food delivery startup, and Eden Care, a healthcare startup that became the first Rwandan startup to join the highly-acclaimed accelerator program when it was announced in July 2023.
Congolese Fintech, Vault Pay, Becomes 3rd African Startup Selected to Join Y-Combinator S23 Batch
Vault Pay, located in the Democratic Republic of Congo, is actively developing essential payment infrastructure for the Central African region. This venture was established in… pic.twitter.com/Dz2bPlTAIf
— BitKE (@BitcoinKE) August 8, 2023
Vault Pay enables users to open an account in just one minute. DRC users are also able to receive their VaultPay VISA cards upon registration in 24 hours enabling them to pay and withdraw money worldwide.
The startup is supported by:
- Y Combinator
- Tekedia Capital
Y Combinator to Decrease Late-Stage Investing Focus and Cuts 17 Jobs
“We think the best way we can help is by continuing to do what we’ve always done – helping founders at the earliest stages build the future.” – @ycombinator https://t.co/lem9nKuhVB pic.twitter.com/Bmm5oKmMHX
— BitKE (@BitcoinKE) March 14, 2023
Speaking about Vault Pay and the team, Ndubuisi Ekekwe, the Chairman of Tekedia Capital said:
“They pitched to us. I asked them – are you sure you would leave Google and Airbnb, in North America, and return to Congo DRC for this business?
The response was YES. We invested tons of money in VaultPay, CongoDRC pioneering fintech company.
Ntambwa Basambombo and Christel Ilaka showed an unalloyed passion for a country and a continent. Today, Tekedia Capital congratulates both for receiving a FULL license from the Central Bank of Congo DRC to execute the playbook.
And to all investors, we welcome you to this party. The license covers agency banking, card issuing, aggregator, payment, etc. We will need your partnership. The Africa we desire must be funded, and I ask you to connect with the team, and see how you can join us at this party. They’re opening a new funding round.
I put out this post because people will tell you “risk” here, “risk” there.
But note this: everywhere has risks including New York, London, Kinshasa and everywhere. Kinshasa is open for business and Central Africa will deliver alpha. Do it and together we will create a unicorn because VaultPay is on the path for one.”
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