Accrue

Accrue is a financial technology company positioning itself as a key player in Africa's cross-border payment landscape. The company was founded in 2021 by Zino Asamaige, Adesuwa Omoruyi, and Clinton Mbah, all former employees of the fintech company Helicarrier. Initially, Accrue launched as a platform to simplify cryptocurrency and stock investments for beginners. However, a strategic pivot occurred in 2022 following the crypto market downturn, shifting the company's focus to address the persistent challenges of cross-border payments within Africa.

The firm primarily serves individuals and businesses needing to send and receive money across Africa and to the United States. It operates in a market often characterized by high costs, significant delays, and limited accessibility in traditional remittance channels. Accrue's business model generates revenue through several streams, including transaction fees, foreign exchange spreads, and penalties for the early cancellation of auto-investment plans. By mid-2023, this revised strategy led the company to profitability.

Accrue's core service is a cross-border payment platform that facilitates money transfers to bank accounts, mobile money, or M-Pesa in under five minutes. To achieve this efficiency, the company utilizes an agent network model, inspired by platforms like MPESA and Moniepoint, which is particularly effective in regions with limited banking infrastructure. On the backend, these transactions are facilitated using stablecoins through a peer-to-peer network of agents called Cashramp, which functions as an escrow system. Beyond payments, Accrue offers users virtual USD dollar cards for online shopping, the ability to open a US bank account, and savings products that can earn up to 7% annual interest. The company has successfully attracted over 200,000 users across at least eight African countries, including Nigeria, Ghana, Kenya, and South Africa. In January 2025, Accrue announced it had secured $1.58 million in a seed funding round led by Lattice Fund, with participation from Kraynos Capital, Distributed Capital, Lava, and Maven 11, to expand its payment infrastructure and team.

Keywords: cross-border payments, African fintech, remittances, mobile money, stablecoin payments, virtual dollar cards, US bank account Africa, agent banking network, international money transfer, digital payments, financial technology, Zino Asamaige, Adesuwa Omoruyi, Clinton Mbah, Cashramp, pan-African payments, online payments Africa, savings in dollars, emerging markets fintech