Nigerian Fintech Grey Raises USD 2 Mn Seed Funding

Grey, a fintech startup, has raised USD 2 Mn in seed funding to launch into new markets and extend its product suite to include not just remittances but also person-to-person and business-to-business payments so every African can enjoy seamless cross-border payments with low fees.

The seed funding round included participation from Y Combinator, Soma Capital, Heirloom Fund, True Culture Fund, angel investors Alan Rutledge, Samvit Ramadurgam, Karthik Ramakrishnan, and other high-profile investors. Grey also announced its expansion into East Africa, starting with Kenya, and partnerships with payments giant Cellulant and ed-tech leader Moringa

The company also offers conversion directly to your local currency so that you can spend it easily on the app. Grey allows users to receive foreign payments in their preferred foreign currency and withdraw directly to mobile money or their local bank account.