Sixteen months later, on a hot July day in 2026, Egypt's finance minister, Ahmed Kouchouk, returned to a company whose public frustration had once laid bare the country's industrial bureaucracy.
The Amsterdam and South Africa-based startup, spun out of communications app Talk360, is bringing European-style payment orchestration to the African mid-market.
The deal continues a broader trend of Nigerian VCs backing foreign startups or local companies with continental ambitions, as Nigeria’s economy faces mounting macroeconomic challenges.
The VB Facility will deliver pre- and post-investment support to startups operating in sectors including distributed solar, energy efficiency, electric mobility, agritech and circular economy solutions.
In the weeks following Nigeria and Ghana’s festive travel season — the period known locally as Detty December — a wave of chargebacks was filed in January 2025, predominantly initiated from abroad.
Sixteen months later, on a hot July day in 2026, Egypt's finance minister, Ahmed Kouchouk, returned to a company whose public frustration had once laid bare the country's industrial bureaucracy.
The new virtual asset rules demand high capital, local custody, and bank-held reserves - creating a moat that traditional lenders are perfectly positioned to fill.
