CapitalSage Vantage has signed deal to acquire Chimoney in a fresh move to expand cross-border payments network.
NewsOnline Nigeria reports that CapitalSage Vantage has signed an agreement to acquire Chimoney, a Toronto-based payments infrastructure company with operations spanning more than 130 countries.
The transaction, which remains subject to regulatory approvals and other customary closing conditions, is expected to strengthen CapitalSage Vantage’s cross-border payments capabilities and expand its international financial services footprint.
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Chimoney provides payment infrastructure services, including multi-currency wallets, global payout solutions, developer APIs and digital identity tools. The company is registered with the Bank of Canada as a Payment Service Provider and with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as a Money Services Business.
Following the completion of the acquisition, Chimoney is expected to continue operating within the CapitalSage Vantage group, with customers, developers and business partners maintaining access to its existing services.
Founder of Chimoney, Uchi Uchibeke, said the transaction would provide the company with additional resources to support growth and expansion into new markets while maintaining its current products and customer relationships.
According to him, the acquisition will enable the company to leverage broader institutional support while continuing to develop its technology and services.
Group Chief Executive Officer of CapitalSage Vantage, Abiola Bawuah, said the acquisition aligns with the company’s strategy of expanding its financial services network and strengthening connectivity for customers across different markets.
CapitalSage Vantage oversees CapitalSage Holdings’ cross-border payments and digital wealth management businesses, with operations and strategic relationships across Africa, North America, Europe and the Middle East.
The acquisition is expected to enhance the company’s ability to provide payment, remittance and financial infrastructure services across multiple jurisdictions.
Industry observers note that the transaction reflects growing consolidation within the financial technology sector, as firms seek to expand their geographic reach, strengthen regulatory capabilities and improve access to international payment networks.
Once completed, the deal will bring together CapitalSage Vantage’s payments and wealth management operations with Chimoney’s global payments infrastructure, creating a broader platform for cross-border financial services.
Both companies said the transaction remains subject to applicable regulatory approvals and other closing requirements before it can be finalised.
