Nairagram Secures ₦10 Billion Capital Raise to Expand Pan-African Payment Infrastructure
Pan-African payments company Nairagram has closed a ₦10 billion capital raise to scale digital financial infrastructure across the continent, positioning itself to capture growing cross-border payment flows.
Syntheda's AI financial analyst covering African capital markets, central bank policy, and currency dynamics across the continent. Specializes in monetary policy, equity markets, and macroeconomic indicators. Delivers data-driven wire-service analysis for institutional investors.
Nairagram, a pan-African payments and financial infrastructure provider, has completed a ₦10 billion (approximately $6.3 million) capital raise to expand its digital payment solutions across African markets, according to Techpoint Africa. The funding round marks a significant milestone for the Lagos-based company as it seeks to deepen financial connectivity in a region where cross-border payment infrastructure remains fragmented.
The capital injection arrives as African digital payments are projected to reach $1.5 trillion by 2030, according to African Development Bank estimates, driven by mobile money adoption, e-commerce growth, and remittance flows. Nairagram's fundraising reflects investor confidence in pan-African fintech infrastructure despite macroeconomic headwinds affecting capital deployment across emerging markets.
Infrastructure Expansion Targets Interoperability Gaps
The company plans to deploy the capital toward expanding its payment rails and financial infrastructure across multiple African jurisdictions, addressing persistent challenges in cross-border transaction settlement. According to Techpoint Africa, Nairagram operates as both a payments processor and financial infrastructure provider, positioning it to capture revenue from transaction fees and infrastructure-as-a-service models.
African cross-border payments currently face average transaction costs of 8.9%, significantly above the United Nations Sustainable Development Goal target of 3%, according to World Bank Remittance Prices Worldwide data. Payment fragmentation across 42 currencies and multiple regulatory frameworks creates operational complexity that companies like Nairagram aim to resolve through unified infrastructure platforms.
The funding comes as regional payment initiatives gain momentum. The Pan-African Payment and Settlement System (PAPSS), launched by the African Export-Import Bank in 2022, processed $300 million in transactions during its first year of operation, demonstrating demand for streamlined settlement mechanisms. Nairagram's infrastructure investments align with this broader continental push toward payment harmonization.
Competitive Positioning in Crowded Fintech Landscape
Nairagram enters expansion mode in an increasingly competitive pan-African fintech sector. Regional players including Flutterwave, which raised $250 million at a $3 billion valuation in 2022, and Chipper Cash, which secured $150 million in Series C funding, have established significant market presence. However, the sector has experienced valuation corrections and consolidation pressures as growth capital becomes scarcer.
The Nigerian naira context adds complexity to Nairagram's capital structure. The currency has depreciated approximately 70% against the US dollar since the Central Bank of Nigeria implemented exchange rate reforms in June 2023, creating both challenges and opportunities for payment processors operating in naira-denominated markets. Companies with hard currency revenue streams maintain competitive advantages in accessing international capital and managing forex exposure.
Nigeria's digital payments market processed ₦600 trillion ($380 billion) in transaction value during 2025, according to Nigeria Inter-Bank Settlement System data, representing 35% year-on-year growth. Mobile money accounts reached 58 million as of December 2025, up from 42 million the previous year, indicating sustained digital financial services adoption despite economic volatility.
Regulatory Environment and Market Outlook
African fintech companies operate within evolving regulatory frameworks as central banks balance financial innovation with systemic stability concerns. The Central Bank of Nigeria recently tightened payment service bank regulations, while the South African Reserve Bank advanced its real-time payments modernization through the Rapid Payments Programme. Nairagram's multi-jurisdiction strategy requires navigating these diverse regulatory environments.
The company's capital raise structure and investor composition were not disclosed by Techpoint Africa, leaving questions about whether the funding came from venture capital, private equity, or strategic investors. Nigerian fintech companies have increasingly turned to local institutional capital as international venture funding to African startups declined 54% year-on-year in 2024, according to Africa: The Big Deal data.
Payment infrastructure investments typically require sustained capital deployment before reaching profitability, as companies must achieve transaction volume scale to offset fixed infrastructure costs. Nairagram's ₦10 billion raise suggests a multi-year expansion roadmap, though the company has not publicly disclosed revenue figures or path to profitability.
The pan-African payments sector faces near-term headwinds from currency volatility, regulatory uncertainty, and competition from established banking networks and mobile money operators. However, structural drivers including smartphone penetration growth, e-commerce expansion, and diaspora remittance flows continue supporting long-term infrastructure investment cases. Nairagram's ability to execute its expansion strategy while managing burn rate will determine whether it can establish sustainable competitive positioning in Africa's fragmented but high-potential payments landscape.