Chimoney Acquired by CapitalSage Vantage in Cash Deal

In Short

• Chimoney has a new owner.
• CapitalSage Vantage Limited, a CapitalSage Holdings subsidiary, has completed an all-cash acquisition.
• Chimoney had paused new transactions and integrations in May due to insufficient capital.

What Happened

Chimoney, the Nigerian-founded payments startup, has been acquired by CapitalSage Vantage Limited in an all-cash deal. The acquisition closes about five months after Chimoney told customers it had stopped processing new transactions and integrations.

A payments startup typically moves money for businesses and consumers, such as payouts, collections, and cross-border transfers. When Chimoney paused processing, it also began refunding customer balances, which is the money users had stored on the platform.

Chimoney founder Uchi Uchibeke said CapitalSage Vantage acquired Chi Technologies Inc., the company behind Chimoney. He added that every investor was repaid in full, and the team received its proceeds from the transaction.

Uchibeke said 31 individuals and firms received payments from the deal. The companies did not disclose the acquisition value.

The takeover follows an agreement signed in June, about four weeks after Chimoney’s shutdown notice. The close of the deal now brings Chimoney back into operation under new ownership.

Why It Matters

This Chimoney acquisition is a reminder of how fast liquidity can tighten for African fintechs, especially payments companies that must keep enough working capital to settle customer transactions.

It also shows a path other struggling startups may consider, an acquisition that repays investors and resolves customer refunds, instead of a long shutdown process.

For founders and operators, the key detail is operational continuity. “Integrations” are the technical connections businesses build into a payments provider, and those links are costly to replace when a provider pauses service.

If CapitalSage can stabilise the business, Chimoney’s return could reduce disruption for merchants that relied on its payment rails and payout tools.