Zone, a payment infrastructure company, has successfully secured $8.5 million in a seed funding round led by venture capital firms Flourish Ventures and TLcom Capital.
The funding round was oversubscribed, indicating strong investor confidence in the company’s vision and potential.
The primary objective of this investment is to facilitate Zone’s expansion efforts, both domestically and internationally. With the new capital infusion, Zone aims to broaden its network coverage within its home market and strengthen connections with banks and financial services companies.
Moreover, a substantial portion of the funds will be allocated to conducting a comprehensive pilot program in 2025 to test the company’s cross-border capabilities.
Zone’s long-term strategy includes extending its footprint across Africa to support intra-African and international payments, aligning with its vision of becoming a global payment network.
The participation of renowned investors, such as Digital Currency Group, VKAV, and Alter Global, underscores the industry’s confidence in Zone’s potential to redefine payment infrastructure in Africa.
Obi Emetarom, CEO and co-founder of Zone expressed gratitude for the overwhelming support from investors, highlighting their trust in the Zone brand and excitement about the opportunity to revolutionize payment infrastructure in Africa.
Emetarom emphasized the company’s commitment to leveraging technological advancements to enable real-time payments within and across geographical borders.
Flourish Ventures Partner Ameya Upadhyay praised Zone’s technology for enabling direct communication between participants in the payment ecosystem, setting a new standard of reliability, speed, and cost efficiency in Africa’s financial landscape. Upadhyay reiterated Flourish Ventures’ belief in Zone’s potential to drive payment innovation glo
