Kyshi, an African-focused fintech company, has launched a beta version of its platform, "Kyshi for Business," which aims to help businesses transact across multiple countries, including the UK, U.S., Canada, China, and several African nations, including Nigeria, Ghana, Kenya, South Africa, and Senegal.
The UK-headquartered fintech startup, which was founded in July 2020 by Ayo Akindele, has raised a total of $420,000, with its latest funding of $100,000 raised in May 2022.
The platform addresses various challenges businesses encounter when conducting cross-border transactions, such as compliance requirements and foreign exchange management. It offers real-time transaction tracking, virtual account generation, and international payment processing in over 100 countries.
Kyshi for Business also supports accounting integrations to enable businesses to keep track of their transactions seamlessly. Kyshi also provides a mobile app marketplace, Kyshi Connect, that allows African online merchants to accept diaspora payments from millions of Africans residing in the UK, US, EU, and Canada.
The company offers 2% - 3% cashback on all purchases made through Kyshi Connect, including airtime, data plans, health plans, auto/gadget insurance, utility bills, cinema/event tickets, shipping, and other services.
Kyshi's platform promises to be a one-stop solution for businesses seeking to conduct cross-border transactions and provides a new avenue for African online merchants to expand their customer base. The company is positioning itself as a trusted cross-border business partner and is open for businesses to join the beta version of the platform.