Hizo has successfully raised $100,000 in a Friends and Family round closed on June 4, 2025. The funding will support the company’s mission to simplify cross-border transactions in Africa using local currencies, which is a move that directly challenges the continent’s overdependence on foreign currency systems.
Currently, Hizo allows Nigerians to send and spend their naira in 14 African countries without needing to convert to dollars or visit an exchange bureau. It’s part of a growing push to make African money work within Africa.
“Our platform addresses an urgent need: reliable, fast, and cost-effective transactions within Africa,” said Victor Chiedu, CEO of Hizo. “We focus specifically on intra-African payments, helping users bypass costly foreign currency conversions and lengthy processing times.”
Unlike traditional remittance platforms that center on funds coming from abroad, Hizo is designed for everyday exchanges happening between Africans themselves. “Most remittance platforms prioritize money coming from the West, often overlooking the significant value Africans exchange among themselves daily,” Chiedu explained.
“We’re creating a product for the real, everyday economy, that is built for Africans by Africans.”
With this new round of funding, Hizo will expand its operations, improve the technology powering its app, and grow its user base. Specific goals include:
- Improving product performance and features to make transactions faster and more user-friendly
- Growing the team through strategic hiring and internal training
- Increasing brand awareness and reaching new markets across the continent
“This wasn’t just about raising money,” said Chiedu. “We intentionally targeted investors who share our core vision and deeply understand the economic and social value of our solution.”
The choice to raise funds through a Friends and Family round was deliberate. It reflects Hizo’s focus on community-first growth and trust. “This approach is intentional,” he continued. “We sought out investors who genuinely share our vision and understand the importance of creating sustainable, community-driven solutions in Africa.”
The capital also sets the foundation for future institutional investment. Hizo plans to work with financial service providers and payment aggregators to widen its reach, making the product more accessible to individuals and businesses across the continent.
Looking ahead, Hizo aims to integrate more African currencies into its system and build partnerships with local financial institutions and mobile money platforms. “Our ultimate goal,” Chiedu said, “is to empower Africans to conduct business across borders without depending on foreign currencies. This funding round is a critical step in that journey.”
The broader vision is simply to give Africans the tools to send, receive, and spend their own money across borders, without friction, high fees, or foreign exchange stress. As Chiedu puts it, “We’re envisioning a future where an entrepreneur in Nairobi can transact directly with a partner in Lagos seamlessly in their local currency. It’s about creating real financial independence across Africa.”
