- Blockfinex has acquired Fluidcoins, a Nigerian crypto payment gateway that builds a payment infrastructure for African businesses.
- The acquisition includes all entities of Fluidcoins, including Flip and Fluidshops, and the Fluidcoins team will continue to work on its products.
- The value of the acquisition deal was not disclosed, but the move is expected to provide Fluidcoins with the necessary funding to push its products.
Nigerian crypto payment gateway, Fluidcoins, has been acquired by Blockfinex. TechCabal, which broke the news, did not mention the value of the acquisition deal in its report.
Founded in 2021 by Lanre Adenowo, Fluidcoins is building a crypto payment technology infrastructure for African businesses. One of its most popular products is Checkout, a hosted widget that allows customers pay businesses using crypto assets.
Fluidcoins also boasts of offering other services like creating payment links to receive money from anywhere in the world, invoice management to save time and get paid faster, and more. It touts itself as an all-in-one crypto solution for businesses. The company has a service that allows users earn interest on stablecoins that they invest through its Earn service.
“Our Dashboard takes the complicated stuff and makes it simple, so you can get on with your administrative tasks and get more work done,” it says on its products website.
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The Fluidcoins team will continue to work on its products as part of the acquisition arrangement with Blockfinex.
“This acquisition was driven by a decision to venture into Wallet as a service business and crypto payment processing and scale it across the world. The acquisition includes all Fluidcoins entities, including Flip and Fluidshops,” Danny Oyekan, Blockfinex’s CEO, said in a statement.
Fluidcoins has raised $150,000 in funding so far and that has not been enough to keep the company running and push its products out. Likely, its acquisition by Blockfinex will provide the necessary funding.
Blockfinex is owned by Dan Holdings Limited, a holding company that was renamed from The Danny Oyekan Group. It is headquartered in Dubai and owns other smaller companies like TeleChat, Cash.Africa and Propertyze.
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