Critical problems call for innovative solutions and RemX Capital Limited was born from the need to provide an efficient and effective payment processing platform across Africa for businesses.
Eghosa Nehikhare founded RemX Capital Limited in 2020 to tackle the inefficient payment processing methods available at that time.
RemX is a multi currency payment company that aims to solve problems faced by startups across all sectors as regards payment across African markets. RemX provides its services from business to business and doesn’t deal with individuals.
Eghosa had the vision of this company when he worked with the Africa Courier Express. At that time, the logistics company faced major challenges in getting payments from other African countries and a fledgling RemX got the Africa Courier Express out of what could have been a financial mess. These were the problems that birthed OIT Africa and Avalon Offshore Logistics, sub parts of RemX.
Venture Garden Group, co-founded by Olufemi Olukunmi Demuren and Olubunmi Akinyemiju, provided the director, Eghosa Nehikhare the necessary funds and support to start his firm. The two Fintech tycoons are also major investment partners of RemX. RemX Capital Limited processed almost $6million during the first three months of operations, with their backing, and has since extended its financial reach to other African countries, particularly in Sub-saharan Africa.
RemX provides a range of financial services for companies that do financial transactions in and out of Africa. The company uses technology products like BoltSend to liquidate African currency around the markets, and SWIFT for efficient treasury management.
RemX, a strong Corporation, has partnerships with Nigerian financial institutions such as United Bank for Africa and Equity Bank. These powerful partnerships obviously show their reliability and efficiency in providing border currency solutions.
RemX has put its business roots in Kenya with the acquisition of a headquarters based in Nairobi. Kenya was chosen because it has the second largest market for FinTechs, which is the audience target for RemX.
RemX has successfully processed over $221m in the first quarter of 2022, $943m in 2021 and $1.2b in 2020 and it has been suspected that other countries like Ghana and Tanzania will soon be able to enjoy the services provided by RemX.
2022 is going to be quite an exciting year for FinTech startups
