Why Kenyan remittance startup Bonto is shutting down after two years
- Bonto Kenya ceased processing transactions on August 15 and requested the revocation of its license from the Central Bank of Kenya.
- The Central Bank of Kenya confirmed the revocation of Bonto's license, highlighting regulatory challenges for fintechs in the country.
- Bonto's founder, Yoann Copreaux, stated that the company's shutdown was due to collapsing FX margins and rising compliance costs.
Bendada.com - Sep 22, 2025
Kenya’s Bonto shuts down six months after getting its CBK licence
Bonto Kenya, a fintech startup in Nairobi, has shut down operations less than two years after launch
The closure of Bonto Kenya underscores the harsh realities faced by emerging fintechs in a rapidly evolving regulatory landscape. It raises important questions about the sustainability of new entrants in the remittance market, particularly in regions where established players dominate and compliance costs are high. Future discussions should focus on how regulatory frameworks can better support innovation while ensuring market stability.
