The world is going digital, with digital forms of payment taking preeminence as tech advances. According to available statistics from Wordplay in a measured period, it’s been estimated that digital and mobile wallet payments accounted for 41.8 percent of online transaction volume worldwide. Online wallets had the highest market share in the Asia Pacific, accounting for over 58 percent of e-commerce payments, with that trend slowly taking up relevance in more advanced African Countries. Multigate.io, a Nigerian financial technology company founded in 2017, that provides instant cross-border funds transfer, and advanced treasury and cash management to businesses and individuals within and outside of Africa is leading the future of fintech and cross-border payments from the continent. The company focuses on providing simplified solutions that unravel the complex payment and cash management challenges encountered by enterprise corporates.
The African FinTech industry has grown rapidly over the past few years, and this has caught the attention of some well-resourced venture capital (VC) firms. As expected from observers of the African FinTech scene, Nigerian FinTech startups have dominated the continent in terms of funds raised or the number of transactions performed. On this front that Multigate.io has emerged as a leader. The company has proven to be an innovative leader with its dynamic payment gateway solutions and fluid operations tools. Within two years of operations, Multigate.io became a necessity for some of the largest pan-African companies, fintech companies, and banks as well. By solving a terribly complex problem they all shared, Multigate.io became embedded in their cross-border operational fabric. So far, Multigate.io has provided fintech treasury services with a cumulative total of $4.3bn to date.