Kotani Pay provides B2B middleware that links crypto platforms' smart contracts and stablecoins to local mobile-money APIs and USSD channels so recipients can cash out and pay in local currency without internet access. The startup targets remittances for underbanked populations across Kenya, Ghana, Zambia and South Africa, with planned expansion to Rwanda, Senegal, Ivory Coast, Tanzania and Nigeria. Kotani’s platform on-ramps local currency into USD via a network of liquidity providers and currently serves primarily enterprise flows. To date the platform has facilitated about $23 million in transfers, with an average transaction size of $150,000; Kotani charges an interchange fee averaging roughly 1% of gross transaction volumes. The company lists partners and integrations including Yellowcard, DCG, Fonbank, Celo’s Valora, Mercy Corps, UNICEF Crypto Innovation Fund and Stellar. Following its acquisition of Nigerian startup Fuhlstack, Kotani plans to roll out Reconset (Reconciliation-as-a-Service) and Money Ledger (Ledger-as-a-Service); Fuhlstack founder Lemuel Okoli joined as a co-founder.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2023