By Justina Okechukwu
Cedar Money, a fintech company specializing in cross-border transactions, has introduced an innovative solution named “Hold” designed to assist African enterprises in navigating the volatility of currency fluctuations by enabling them to secure deposits in advance. Speaking with TechCabal during the Moonshot event, Dayo Fagade, Cedar Money’s Director of Global Sales and Business Development, described the new offering as a tool that empowers businesses to “retain funds and safeguard future payments.”
Fagade highlighted that the primary obstacle in the international payment landscape is the “market’s unpredictability.” He noted, “In markets like Nigeria, instability is quite common. This uncertainty is precisely why we developed the ‘Hold’ product-to allow businesses to proactively shield themselves from adverse market movements before they occur.”
This product launch represents a strategic enhancement of Cedar Money’s existing portfolio, following the company’s recent successful $9.9 million seed funding round aimed at scaling cross-border payment solutions. “Our new product is essentially an extension of our ongoing efforts,” Fagade explained. “Payments form just one component of Africa’s broader trade ecosystem, and our goal is to deepen our engagement within this sector.”
Looking ahead to the remainder of 2025, Cedar Money intends to strengthen its foothold in current markets while exploring additional currency corridors. The company plans to capitalize on its robust network of suppliers across Europe, China, and the United States to forge stronger partnerships that benefit African businesses. “One of Cedar Money’s key advantages is our extensive and reliable supplier network outside Africa,” Fagade remarked. “We are focusing on consolidating these relationships to become a pivotal link for African enterprises, connecting them seamlessly with global partners.”
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