# Vesicash Financial Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/vesicash-financial-technology

- Industry: Financial Services
- Headquarters: Lagos, Nigeria
- Website: www.vesicash.com
- Latest round: Seed (Feb 21, 2020)
- Investors on record: 1

## About

Vesicash Financial Technology specializes in innovative payment solutions, providing comprehensive services for transaction processing and financial management across various markets in Africa.Vesicash Financial Technology was founded in 2018 in Lagos, Nigeria. The company focuses on facilitating secure financial transactions through its innovative payment processing platform. It was co-founded by Ibrahim Oladele and Tomisin Adeshiyan, who bring significant experience in the financial technology sector. Vesicash successfully raised seed funding in February 2020, with the details remaining undisclosed, and has engaged in one deal by this date.Vesicash offers a range of core products designed to facilitate seamless payment processing and financial transaction management across diverse markets. Central to their offerings is the Merchant of Record (MoR) service, which enables businesses to manage financial transactions securely while ensuring compliance with local regulations. Additionally, Vesicash provides an escrow service that enhances transaction confidence for both B2B and B2C payments, ensuring that value is exchanged securely. Their platform supports local payment collection and multi-currency payouts, catering to the needs of businesses that operate in various geographical markets, including Nigeria, Ghana, Kenya, Egypt, and South Africa. The company’s clientele primarily includes businesses looking to expand into African markets, offering them a trusted solution for accepting payments in their customers' preferred currencies.Vesicash generates revenue through transaction fees associated with its payment processing services, leveraging its partnerships with licensed payment processors to deliver a robust financial ecosystem for its clients. The transaction structure typically involves businesses subscribing to Vesicash's services, allowing them to collect payments from customers in multiple currencies while providing options for local payment collection. These transactions may encompass B2B engagements where companies utilize Vesicash's escrow services to ensure secure payments, as well as direct-to-consumer sales facilitated through their platform. Specific pricing plans are structured around the various services offered, including competitive fees for the Merchant of Record and escrow services, which are integral to enhancing payment security and operational efficiency for businesses in their respective markets.Vesicash Financial Technology aims to expand its offerings by developing new products, with specific details on upcoming launches to be announced in the near future. The company is focused on entering additional markets within Africa, specifically targeting regions that show potential for growth by mid-2024. The recent seed funding raised in February 2020 will be allocated to support the development of these new products and market expansion efforts.

## Funding rounds

- Seed, Feb 21, 2020 — Ingressive Capital

## Investors

- Ingressive Capital (https://capitalatlas.ai/funds/ingressive-capital) — Seed