Global B2B Payment Platform Nilos Expands into West Africa to Revolutionize Cross-Border Payments
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Global B2B payment provider Nilos is making a bold move into West Africa, targeting Ivory Coast, Senegal, Benin, and Togo. The expansion is part of the company’s strategy to simplify financial transactions across borders by enabling instant payouts in the West African CFA franc (XOF) and integrating mobile money solutions. This initiative aims to improve financial accessibility for businesses and individuals in the region.
Founded in 2021 by Raphael Fettaya and Eytan Messika, Nilos was created to help businesses efficiently manage transactions across multiple currencies. The platform bridges the gap between fiat and cryptocurrency payments, offering a streamlined solution for companies operating in global markets. Since securing $5.2 million in early funding, the company has continued to enhance its services, including the introduction of Virtual EU IBANs in 2023 for businesses dealing in cryptocurrency across Europe.
With its entry into West Africa, Nilos is tackling some of the most persistent challenges in cross-border payments, including high transaction costs, slow processing times, and limited banking infrastructure. By offering multi-currency accounts (EUR, GBP, USD) and instant payouts in XOF via mobile money, Nilos is positioning itself as a game-changer in the region’s payment ecosystem.
Businesses in West Africa will now have the flexibility to top up accounts in major global currencies and make fast, cost-effective transactions using mobile money services. As Nilos establishes itself in Francophone Africa, it will compete with regional players such as Cauridor, HUB2, and Bizao, bringing more innovation and efficiency to the payments landscape.
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