Five months after running out of capital, Chimoney gets a new owner
Five months after announcing its shutdown, Chimoney returns under CapitalSage, with investors repaid and its consumer app relaunched as Tiki.
Via TechCabal
CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, has completed its acquisition of Chimoney, the Nigerian-founded payments startup that announced its shutdown in May after running out of capital to sustain operations, Uchi Uchebeke, Chimoney’s founder, told TechCabal.
The all-cash acquisition ends five months of uncertainty for the Techstars-backed startup, which had suspended transactions, begun refunding customer balances, and faced the possibility of a permanent shutdown.
“CapitalSage Vantage Limited has acquired Chi Technologies Inc., the company behind Chimoney,” Uchibeke said…
Courtesy
This story was originally published by TechCabal. All rights belong to the original publisher.
Read the original on techcabal.com ↗