Nairagram secures $6m to scale payments across Africa

By Vriti Gothi

Pan-African payments and financial infrastructure provider Nairagram has raised $6 million through a commercial paper issuance, fully subscribed within 48 hours, as the company seeks to strengthen its capital base and scale operations across the continent.

The short-term debt program received final approval from the Central Bank of Nigeria. Following market preparations, the issuance was launched on February 3 and fully subscribed by February 4, with the transaction completed on February 5, reflecting strong institutional investor demand.

Nairagram said proceeds will be used to support operations across its network spanning 37 African countries, accelerate expansion, and deepen its presence in key markets including Nigeria, Ghana, Senegal, Côte d’Ivoire, Cameroon, Kenya, and Uganda. The funding will also support product development and the scaling of its unified payments infrastructure.

Building on the successful raise, the company disclosed plans to mobilise up to $29 million in 2026 through a mix of capital market instruments to further strengthen its balance sheet and expand its pan-African financial connectivity platform.

“This successful commercial paper issuance is a strong validation of Nairagram’s vision and execution,” said Idris Ibrahim, President and Co-Founder of Nairagram. “The speed and scale of the subscription reflect institutional confidence not only in our business but also in the broader opportunity to build resilient, African-owned financial infrastructure that supports trade, remittances, and economic growth across the continent.”

Nairagram enables payments into, out of, and within Africa through a single API, supporting bank transfers, mobile money, and cash pickup across multiple markets. The company processes more than $2 billion in transactions annually, serving financial institutions, FinTechs, and enterprise clients seeking access to African payment corridors.

The capital raise comes amid growing demand for interoperable cross-border payment infrastructure to support intra-African trade and remittance flows. For FinTech providers operating in infrastructure-heavy segments, access to domestic capital markets is increasingly emerging as a strategic funding route to support expansion while aligning with regulatory oversight and local financial sector development.