Cardri wants to power intra-African trade with instant payments and AI risk management
This Nigerian fintech startup is building a payment and AI-driven risk management platform that lets users send funds instantly across borders and protect themselves from currency volatility.
In Africa, one of the most persistent problems, especially for trade, remains the movement of money across borders. Despite numerous fintechs entering the fray, transferring funds between African countries still remains a challenge.
Nigerian fintech startup Cardri wants to change that with its intra-African payment solution.
Founded in 2022 by Bolaji Okunade, Yusuf Ibrahim, and Clement David, and in open testing since September 2024, Cardri began as an attempt to solve international card transaction restrictions but evolved into a financial super app that combines payments with AI-driven financial risk management for small businesses, entrepreneurs, and traders across Africa.
The startup is positioned to bridge the financial divide holding back commerce under the African Continental Free Trade Area (AfCFTA).
“Cardri is a financial technology company offering payments as well as AI-driven risk management tools for businesses,” Clement David, COO of Cardri recalls, stressing that at the front-burner of what they do is payments for intra-Africa.”
How Cardri works
At its core, Cardri is a cross-border payment and risk management platform designed to make sending and receiving money across African countries as seamless as local transfers. Through its mobile app and WhatsApp-integrated version, users can transfer funds in naira directly to recipients in other African currencies without first converting to dollars.
Currently headquartered in Abuja, Nigeria, Cardri supports payments to 20 African countries and global payouts to 92 countries. A user in Nigeria can send money to someone in Kenya in Kenyan shillings, instantly and transparently, at the prevailing exchange rate.
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The platform also offers instant domiciliary funding and even supports top-up of Alipay and Chinese accounts, opening up frontiers for businesses and individuals engaged in international trade. Users can authenticate th...
