Korapay Technologies

Market position

Kora positions itself as pan-African payment infrastructure serving both African businesses expanding globally and global companies scaling in Africa, and has been described in the press as a Nigerian fintech that grew out of diaspora remittances into a payments infrastructure provider.

Technology

A payments API and processing engine supporting checkout integration, payment links, bulk payouts, real-time balances, settlements and identity (KYC/KYB) verification, with open-source plugins and SDKs published on GitHub. The company cites a security framework covering PCI, ISO 27001, ISO 22301, Visa Global and SOC 2 Type II, plus real-time AML transaction monitoring.

Go-to-market

The company combines self-serve signup and developer-led adoption — public API documentation, SDKs, a hosted checkout widget and open-source plugins for WooCommerce, WordPress, Joomla VirtueMart and Drupal Commerce — with a contact-sales motion for larger merchants, supported by customer case studies (for example Moniebee and GIG Logistics), a startup launch bundle, blog, reports and newsletter.

Local African and global/multinational businesses needing to collect, disburse and settle payments across African markets, including e-commerce merchants, logistics companies and startups; developers integrating payments are an explicit audience.

Geography

Offices are listed in Toronto, Canada (77 King St W, Suite 400); Birmingham, UK (Innovation Birmingham, Holt St); and Lagos, Nigeria (180 Freedom Way, Lekki Phase 1). The company states coverage of more than six African countries, naming Nigeria, Ghana and Cameroon, with mobile money support beyond Kenya and Ghana. Its earlier remittance service operated across 12 US states.

History

According to press coverage, Korapay Technologies was founded by Bryan Uyanwune, Gideon Oghenetega Orowiroro and Dickson Chukwuma Nsofor, with reporting variously citing a 2017 founding and a 2018 Nigerian incorporation, initially to serve diaspora remittances into Africa. In March 2019 the company, described as Canadian-based and Techstars-backed, launched its US-to-Nigeria cross-border transfer platform. It later broadened into payment infrastructure for local and global businesses processing payments in and out of Africa. In 2022 the company was the subject of Kenyan court proceedings in which bank accounts were frozen over money laundering allegations it denied.

Risks & controversies

In 2022 Kenya's High Court froze bank accounts belonging to Korapay Technologies Limited following suits by the Kenyan Asset Recovery Agency, which alleged the company was part of an international ring using Kenyan banks as conduits for illicit funds; a Korapay Equity Bank account holding $249,990 was frozen. The company denied the allegations, stating the $250,000 was deposited in 2021 to meet Central Bank of Kenya capital requirements for a payment service provider and remittance operator licence and that it was the only transaction on the account, and said it was approaching the courts for redress. Reporting linked the case to parallel actions against several other Nigerian companies, including Flutterwave and Kandon Technologies.