Five months after running out of capital, Chimoney has been bought by CapitalSage Vantage, resuming operations and relaunching its consumer app as the Tiki remittance platform.
Key Takeaways
- CapitalSage Vantage completed an all‑cash acquisition of Chimoney, repaying all 31 investors and firms.
- The consumer app has been relaunched as Tiki, a Canada‑UK to Africa remittance service.
- Chimoney’s B2B API platform resumes operations under new liquidity support.
- Founder Uchi Uchibeke stays for a six‑month transition while launching a new AI‑auth startup.
- The deal gives CapitalSage a strategic entry into Canada’s regulated payments market.
Acquisition Details and Immediate Impact
CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, announced the completion of an all‑cash purchase of Chimoney, formally known as Chi Technologies Inc. The deal settled payments to 31 investors and firms, with every stakeholder reported as fully repaid. Although the transaction amount was not disclosed, the acquisition ends a period of uncertainty that began when Chimoney halted new transactions in May due to insufficient capital.
Relaunch of the Consumer App as Tiki
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Under the new ownership, the former Chimoney consumer app has been rebranded as Tiki, a remittance service aimed at Nigerians and Gambians living in Canada and the United Kingdom. Tiki will enable users to send money across borders, leveraging Chimoney’s existing Canadian payment licences with the Bank of Canada and FINTRAC. The service is now listed on CapitalSage’s website alongside Chimoney as part of the CapitalSage Vantage portfolio.
Chimoney’s B2B Services Under New Ownership
The B2B payment platform continues to operate, offering APIs for cross‑border collections, payouts and multi‑currency wallets. According to founder Uchi Uchibeke, “Chimoney provides the functions businesses need on both sides of a payment: collecting funds, managing balances, and paying recipients.” The infrastructure now benefits from CapitalSage’s broader liquidity pool and its network of financial entities, including Kolomoni Microfinance Bank.
Future Outlook and Founder’s Next Venture
Uchibeke confirmed that all five members of the original Chimoney team received offers to stay and will be financially compensated as part of the transition. He will remain involved for six months to ensure a smooth handover while he builds APort, a startup focused on authorisation infrastructure for AI agents. The acquisition also gives CapitalSage a foothold in Canada’s payments market, complementing its operations in Nigeria, The Gambia and the United Kingdom.
Regulatory and Financial Context
The purchase was structured in phases to satisfy Canadian regulatory requirements governing changes in ownership of payment service providers. Prior to the shutdown, Chimoney had built a platform supporting payments in 41 currencies but required roughly $3 million in additional capital to sustain growth. Revenue from existing clients proved insufficient, and liquidity pressures across multiple regions accelerated the cash shortfall.
What This Means for Users and Partners
Customers can now process new transactions through Chimoney’s API suite, and the Tiki app is live for remittance flows. The revival restores confidence for businesses that previously relied on Chimoney for cross‑border payouts, while the remittance arm opens a new revenue channel targeting diaspora communities.
Frequently Asked Questions
Why did Chimoney shut down in May 2026?
The startup ran out of capital, stopped processing new transactions and began refunding customer balances because it lacked sufficient liquidity to support its multi‑currency operations.
What services does the relaunched Tiki app provide?
Tiki offers remittance services that let users in Canada and the United Kingdom send money to recipients in African markets such as Nigeria and The Gambia.
Will Chimoney’s B2B payment APIs still be available?
Yes, the APIs for cross‑border collections, payouts and multi‑currency wallets continue under CapitalSage’s ownership, now backed by greater liquidity and regulatory compliance.
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