Nigerian Fintech Startup Chimoney Acquires Scrim App in an Undisclosed Fee
Chimoney, a Nigerian fintech company that makes global payments seamless, accessible, and inclusive, has acquired Gen Z payment app Scrim, for an undisclosed fee.
Chimoney CEO Uchi Uchibeke said the acquisition of Scrim is not just another corporate merger, but a strategic move to empower Africans and others in emerging markets, who have long faced discrimination in global financial platforms.
While speaking on the acquisition, Uchi explained that for years, African entrepreneurs, freelancers, and businesses have struggled with receiving payments from global clients.
Hence the need to close the gap. He disclosed that Chimoney’s acquisition of Scrim will help to address the gap offering remarkable solutions that not only enables global payouts but also integrates seamlessly with local currencies and payment methods.
“The idea behind the Scrim app is simply brilliant. I have collaborated with Pleasant and the Scrim team on several projects including Scrims integration with Chimoney’s API and Wallets. It’s a no-brainer for us to acquire the Scrim App and help it grow,” he added.
According to Uchibeke, the full integration of Scrim with Chimoney’s API promises greater stability and reliability for Scrim while maintaining the Scrim name and brand.
It is worth noting that Scrim was initially powered by Chimoney’s API, which allows users to send payments via social handles and direct messages, a feature that caught the eye of Gen Z globally.
Interestingly, Scrim merger with Chimoney, brings a unique Gen Z perspective, blending youthful innovation with Chimoney’s remarkable offerings.
Following the acquisition, the Scrim App will be relaunched in December 2023 with enhanced features powered from the ground up by Chimney’s API and Wallet as a Service (WaaS). Working with members of the Chimoney team has been fantastic. Together, we’re going to take Scrim to new heights.
Scrim users will have the flexibility to withdraw their funds. Options include transferring to bank accounts in more than 100 countries, converting to Airtime, using Mobile Money wallets in 17 countries, obtaining gift cards valid in 210 countries, engaging in cryptocurrencies across seven blockchains, or making purchases on platforms such as Amazon and Shopify.
