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REXIAL
Techstars '24Port Jefferson, US · Founded 2023 · Delaware corporation · 4 employees on LinkedIn · 1 known investors
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Rexial builds account-to-account direct debit infrastructure for merchants, banks, and consumers to automate recurring payments across Africa. The company operates a proprietary payment network connecting financial institutions and businesses to enable real-time, secure subscription and recurring payment collection at scale.
Also known as Rexial · REXIAL Technologies, Inc.
Founders & leadership
REXIAL was founded in 2023 by Aeko Ongodia and Arthur Nakkaka.
Investors · 1
How we know: the Techstars portfolio · open dataset · Top 3000 Accelerator Startups (no YC) 2026-08 · Not right? Tell us
Reported raises · per SEC filings
Form D private placements$424.5K disclosed across 1 round · 2024
▶$424.5KraisedSep 2024 · 9 investors · Other TechnologyRule 506(b)
- Arthur NakkakaDirector
- Aeko OngodiaExecutive Officer, Director
- Offering amount
- $474.5K
- Amount sold
- $424.5K
- First sale
- Aug 2024
- Incorporated
- Corporation, Delaware, 2023
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Sep 2026Rexial is a payments infrastructure company building automated direct debit for recurring collections in Africa. Its account-to-account network links merchants to their customers' bank accounts and mobile money wallets through a single integration, enabling businesses to pull scheduled payments without cards and consumers to place recurring bills on autopilot.
The company targets recurring-payment use cases across three broad categories: subscriptions and memberships (pay TV, internet, gyms and clubs), financial products (insurance premiums, loan repayments and recurring investment deposits), and utilities and housing (water, electricity and rent). It frames the opportunity around Africa's mobile money scale — citing GSMA figures of 1.1 billion mobile wallets, 80 billion transactions and $1.1 trillion in value — against the fact that the large majority of recurring bills are still settled as one-off payments, which it associates with high collection costs, service disruptions and lost merchant revenue.
Rexial operates in Uganda under Bank of Uganda oversight, having entered the central bank's sandbox in 2023 and obtained a full Payment System Operator licence in November 2025. Network participants disclosed by the company include Stanbic Bank Uganda and XENO Investments.
Founding story
The company was founded in 2023 by Aéko Ongodia (Founder and CEO) and Arthur Nakkaka (Co-Founder and CPO).
Business model
Rexial operates an account-to-account (A2A) network that merchants integrate with once to pull recurring payments directly from their customers' bank accounts and mobile money wallets, removing the need for cards or one-off manual transfers. Businesses use the platform (including a product referred to as Rexial AutoDebit) to schedule and reconcile collections, while consumers authorise automatic debits for their everyday bills.
Traction
Disclosed network participants include Stanbic Bank Uganda and XENO Investments, the latter using Rexial AutoDebit for automatic recurring investor contributions with automated reconciliation of Stanbic customer payments. The company is listed with 11-50 employees and reported total funding of $545K, and is backed by Techstars Washington DC and Nordic Impact Funds.
Latest developments
In November 2025 the Bank of Uganda granted Rexial a full Payment System Operator licence, following its 2023 admission to the central bank's sandbox.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Rexial is an early-stage payments company in the African direct debit and recurring-payments segment; comparable companies listed alongside it include HUB2.io (Côte d'Ivoire) and Lipa Payments (South Africa).
Rexial positions its approach as cardless, paperless direct debit: a single integration that reaches both bank accounts and mobile money wallets, replacing the paper-based mandate workflows previously used by merchants, and backed by a full Bank of Uganda Payment System Operator licence.
Technology
The company provides a single-integration A2A network that connects merchants to customers' bank accounts and mobile money wallets to initiate pull-based recurring debits, with automated reconciliation of collections.
Go-to-market
Rexial onboards businesses directly through a self-serve business registration flow on its website and expands reach by adding financial institutions and financial-services providers to its network, such as Stanbic Bank Uganda and XENO Investments, whose customers can then be debited automatically.
Merchants and service providers that bill on a recurring basis — landlords and utilities, insurers and lenders, investment providers, and subscription businesses such as pay TV, internet and gyms — together with banks, mobile money providers and their end customers.
Geography
Rexial's operating base is Kampala, Uganda, with an address at 13B Nyangweso Road, Muyenga, and a corporate entity, REXIAL Technologies, Inc., registered in the United States at Port Jefferson. Its stated market focus is Africa.
History
Founded in 2023, Rexial was admitted into the Bank of Uganda regulatory sandbox in July 2023 to pilot the digitisation of a paper-based direct debit workflow for merchants. Stanbic Bank Uganda joined its network in January 2024, followed by XENO Investments in August 2024. The company was selected for the 2024 Techstars Washington DC Accelerator powered by J.P. Morgan in August 2024, and in November 2025 received a full Payment System Operator licence from the Bank of Uganda.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 5
launches, deals, and filingsRexial was granted a full Payment System Operator (PSO) licence by the Bank of Uganda.
Rexial was selected for the 2024 Techstars Washington DC accelerator programme, powered by J.P. Morgan.
XENO Investments joined the Rexial network to automate recurring investment contributions.
Stanbic Bank Uganda joined the Rexial network to enable direct debit automation.
Rexial was admitted into the Bank of Uganda sandbox, where it ran a pilot converting a paper-based merchant direct debit workflow into an all-digital network.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
Legal entities · 1
corporate structure▸Research sources · 8
primary sources listed
- REXIALrexial.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does REXIAL do?
- Ugandan payments company operating an account-to-account direct debit network for recurring collections in Africa.
- Who founded REXIAL?
- REXIAL was founded by Aeko Ongodia, Arthur Nakkaka in 2023.
- Who are REXIAL's investors?
- REXIAL's investors include Techstars.
- How much funding has REXIAL raised?
- REXIAL has disclosed $424.5K raised across 1 round.
- Where is REXIAL headquartered?
- REXIAL is headquartered in Port Jefferson, US.