‘Ensuring Our Products And Services Continue To Stay Best In Class’

Published 27 days ago
Ola’s Edit

Ola Oyetayo, the Founder at Verto, a cross-border payments platform for businesses, speaks about what sparked the idea for the business and its work helping customers, from startups and SMEs to large corporates, move millions of USD.

1. Introduce Verto’s journey from its startup days. Verto is a cross-border payments platform for businesses. Our mission is to simplify cross-border payments in emerging markets, particularly Africa. We do this by providing businesses with superb infrastructure that they can use to convert, hold, receive and make payments across 49 currencies.

2. How many countries in Africa does VertoFX have a solid footprint in and exactly where can businesses use it from? What are the basic requirements to use VertoFX for global B2B operations? We offer payout to 170+ countries across the world and have licences in the UK, Nigeria, Kenya, South Africa and USA. Businesses in these countries can payout and receive international payments in 24 currencies while businesses in other countries can leverage Verto’s payout functionalities. We also offer domestic accounts for USD, KES, EUR, NGN and GBP. To use Verto, a business needs to pass our regulatory checks to complete their onboarding.


3. How would you describe your integration to in-country banking systems? Verto is dedicated to seamless integration with in-country banking systems, enabling efficient and cost-effective cross-border transactions for our clients. We establish direct partnerships with local banks in key markets and through these partnerships, we offer clients local currency accounts, allowing them to hold and manage funds in multiple currencies, reducing the need for costly conversions.

Our commitment to compliance with in-country banking regulations, including KYC/AML requirements, ensures that we provide a fully compliant framework for clients while adhering to local regulatory standards.

4. As CEO of one of Africa largest global B2B financial technology firms, tell us a little bit about your journey. I completed my early education in Nigeria, where I grew up before moving to the UK to study economics 15 years ago. After that, I dove headfirst into the world of finance, consulting, and even dabbled in entrepreneurship. Working at places like American Express, Barclays, and Lloyds Bank definitely gave me some serious financial chops. My co-founder and CTO, Anthony Oduu, was launching a prop-tech company and starting his MBA. Over a regular game of poker, I mentioned all the issues I’d seen with paying suppliers abroad. We both got fired up – fired up enough to quit our jobs and start Verto together. It was a crazy leap, but we knew we were onto something special.

5. Venture capitalists have played a major role in financial inclusion in Africa, such venture capital firms as Y Combinator, DST Global, and Accel; describe their role in Verto.


As an early supporter of Verto, Y Combinator provided us with initial funding and strategic guidance needed to build a strong foundation. Their mentorship during our time in their accelerator program was invaluable, helping us refine our business model and focus on solving the specific challenges of cross-border payments in emerging markets.

Venture capital investment into other businesses across Africa has also helped Verto by positioning the continent as a suitable market, encouraging further investment and enabling us to thrive within an increasingly supportive ecosystem.

6. Are there particular patterns or trends in money transfer that have amazed you at Verto in helping your 1,000+ customers, from startups, SMEs to large corporate companies move millions of USD?

Patterns and trends vary between countries in Africa, depending on the banking and regulatory landscape. However, we have seen an increased trend in the appetite for rapid, tech-first and intuitive payment networks like ours to circumvent the often-cumbersome routes traditional banks use.


7. What is the next vision for Verto?

We are intent on being the primary publicly-listed non-bank financial institution facilitating cross-border payments for companies doing business in Africa. Our path to achieving this consists of us continuing to expand our footprint into other key markets, as well as ensuring that our products and services continue to stay best in class so that we can continue our fantastic service for businesses across Africa.

DISCLAIMER: Brand Voice is a paid program. Articles appearing in this section have been commercially supported.