Zone: Driving Africa's Fintech Evolution with $8.5M Seed Funding

Zone: Driving Africa's Fintech Evolution with $8.5M Seed Funding

By Staff Writer, 19 March 2024

In the dynamic landscape of African finance, tech solutions often blend local ingenuity with international expertise. Appzone, a leading homegrown fintech software provider, has emerged as a key player, offering competitive pricing and unparalleled flexibility.

For over a decade, Appzone, headquartered in Nigeria, has been a pivotal force in the region's banking and payments sector.

With a focus on custom software and software-as-a-service products, it has served over 18 commercial banks and more than 450 microfinance institutions across Africa, extending its reach into countries like Ghana and Kenya.

Founded by Emeka Emetarom, Obi Emetarom, and Wale Onawunmi, Appzone took a bold step in 2022, venturing into blockchain technology to enhance its offerings.

This move led to a strategic rebranding as Zone, positioning itself as a licensed blockchain-enabled payment infrastructure provider.

Concurrently, the company spun off its original banking-as-a-service arm into a separate entity named Qore.

Today, Zone is making waves with the announcement of an impressive $8.5 million raised in a seed funding round.

This capital injection underscores Zone's commitment to revolutionizing payment systems in Africa.

At the core of Zone's mission is a keen understanding of Africa's unique financial landscape.

Recognizing that the transition to a cashless future may be gradual, the company is pioneering an interoperable payment infrastructure using blockchain technology.

This approach sidesteps the limitations of traditional payment systems, offering seamless transaction flows between banks and fintech firms, eliminating the need for intermediaries.

With Zone's innovative solutions, the prospect of a digital economy in Africa grows ever brighter, promising increased accessibility and efficiency in financial transactions across the continent.

Source: Tage Kene-Okafor / TechCrunch

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