Grey raised $2m seed to expand cross-border payments in Africa
The August 2022 financing supported Grey’s East African expansion and the launch of its business payments service.
Grey announced a $2 million seed round on 29 August 2022. The financing included Y Combinator, Soma Capital, Heirloom Fund, True Culture Fund, Alan Rutledge, Samvit Ramadurgam and Karthik Ramakrishnan.
The company, formerly Aboki Africa, had begun expanding from Nigeria into East Africa. Its accounts let customers receive foreign payments, convert currencies and withdraw locally, addressing a practical obstacle for freelancers and businesses working across borders.
Part of the funding supported the public launch of Grey Business in Nigeria and Kenya after a private beta. The seed announcement followed a separate pre-seed round in 2021.
Use of funds
Expand across East Africa
Launch Grey Business in Nigeria and Kenya