Having transitioned into an independent entity in 2022, Zone, a Nigerian blockchain startup specializing in payment processing solutions for banks and fintechs, has secured $8.5 million in its initial venture capital funding. Previously, Zone operated under the umbrella of its parent company, Appzone.
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Zone leverages Africa’s first Layer-1 blockchain network to streamline digital currency transactions and acceptance. By connecting financial institutions, Zone promises to slash transaction costs, enable instant dispute resolution, and bring reliability to payments across Africa and beyond.
The innovation has already garnered attention, with over 15 African banks and fintech startups, including Access Bank Plc and Guaranty Trust Bank Plc, onboarded on Zone.
Recently, Zone secured $8.5 million in seed funding, led by Flourish Ventures and TLcom Capital, with participation from renowned blockchain VC firms.
This funding will drive Zone’s expansion plans, including onboard more banks domestically and testing capabilities for seamless cross-border transactions in a pilot program slated for 2025.
With a vision to become a global payment network, Zone aims to revolutionize financial transactions in Africa and beyond.
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