Fliqpay

Fliqpay is a Lagos, Nigeria-based financial technology company operating in cross-border payments and liquidity management. Its original product was a payment gateway, launched in 2020, that allowed businesses across Africa to be paid in digital currency from anywhere in the world; it is also described as a cross-border payment network that helps banks and financial institutions settle payments instantly using crypto between Africa and the rest of the world.

The company was founded in 2019 and subsequently rebranded as Kandon Technologies Limited, a liquidity management business using technology to manage liquidity for global companies across entities, geographies and currencies. The Kandon product set includes FX liquidity provision in preferred currencies across Africa, the UK and Canada, currency conversion between supported pairs, alternative trading for international trades in both fiat and digital currencies, treasury solutions structured for institutional funds and market-makers, and invoice discounting to provide businesses with immediate cash flow.

Leadership listed at the time of the rebrand comprised Ayowole (Wole) Ayodele as chief executive officer and founder, Jime Akpusugh as chief operating officer, Uzoamaka Okoro as chief product officer, Chidimma Nriagu as chief marketing officer and Nkem Nsofor as chief information officer. A startup directory additionally lists David Omomia as chief technology officer and co-founder, and records headcount in the 11-50 range.

Founding story

The business was founded in 2019 by Ayowole Ayodele, launching in 2020 as Fliqpay with a payment gateway allowing African businesses to be paid in digital currency from anywhere in the world. It was backed by the Techstars accelerator, and its headquarters was later incorporated in Toronto with help from Techstars Toronto managing director Sunil Sharma.

Business model

The company provides payment and liquidity infrastructure to businesses and financial institutions rather than consumers. Under the Fliqpay brand it offered a payment gateway enabling African businesses to receive digital-currency payments from anywhere in the world, and a cross-border payment network for banks and financial institutions. Under the Kandon brand the offering is organized around liquidity provision in preferred currencies, currency conversion across supported pairs, alternative trading for international trades in fiat and digital currencies, treasury solutions aimed at institutional funds and market-makers, and invoice discounting that advances cash against receivables.

Revenue is associated with business-facing financial services: payment gateway processing, FX liquidity provision and currency conversion, alternative trading, treasury services and invoice discounting.