Kotani Pay, a Kenyan crypto-fintech startup, has raised a $2 million pre-seed investment led by P1 Ventures, to drive offline cross-border crypto payments in Africa.
The round was joined by a number of investors including DCG/Luno and Flori Ventures. With the new funds, Kotani plans to further expand to Rwanda, Senegal, Ivory Coast, Tanzania and Nigeria. It is currently present in Kenya, Ghana, Zambia and South Africa.
Kotani Pay also wants to further expand its offerings by introducing other products including Money Ledger (a Ledger-as-a-Service solution) and Reconset (a Reconciliation-as-a-Service solution) following its acquisition of Nigeria-based Fintech startup, Fuhlstack. The founder of the newly acquired fintech Lemuel Okoli joins Macharia and Samuel Kariuki as Kotani Pay co-founders.
Founded in 2020 by Felix Macharia and Samuel Kariuki, Kotani Pay is a technology stack that enables blockchain protocols, dapps, and blockchain fintech companies to integrate seamlessly into local payment channels providing them with a reliable on-ramp and off-ramp service to reach a wider customer base in Africa.