A Nigerian fintech that simplifies payments for small businesses, founded in 2021.
10 African startups that shut down in 2025
Four startups across Nigeria and East Africa shut down or suspended operations in the first quarter of 2025. Fintech sector experienced the highest number of shutdowns, with eight out of ten closures occurring in Nigeria.
Condia Insider: While Revolut eyes Africa, Afriex looks beyond
Collect Africa is shutting down to focus on a new platform, Autospend, aimed at cross-border payments using stablecoins. Revolut is expanding its operations into Morocco, led by ex-Uber executive Amine Berrada, with plans to establish a full neobank.
Exclusive: Collect Africa shuts down to make way for Stablecoin-focused Autospend
Collect Africa will shut down by August 31, 2025, to focus on a new stablecoin platform, Autospend. The company processed over $4 million in payments and registered 5,000 businesses since its launch in 2021.
