Lagos-based fintech startup, Pouchers has officially closed a $500,000 pre-seed investment round to accelerate its cross-border payment platform and expand multi-currency financial services.
The funding round was led by Dubai-based internet investment firm Stack Directory LLC, with support from a syndicate of strategic angel investors. The capital injection coincides with Pouchers’ formal exit from its beta phase as it scales up operations.
Core Offerings & Target Market
Founded by CEO Ayo Adewuyi, Pouchers provides stablecoin-backed cross-border payment infrastructure designed for Africans participating in the global digital economy. Key features include:
- Multi-Currency Wallets: Allows users to hold and manage balances in major fiat currencies, including USD, EUR, GBP, and CAD, alongside local currency options.
- Stablecoin Settlement Layer: Supports wallet funding via stablecoins (USDT and USDC) across multiple blockchain networks to process fast cross-border settlements quietly in the background without complex crypto user interfaces.
- Virtual Dollar Cards: Enables users to pay for international online subscriptions and tools across platforms like Meta, Netflix, Amazon, and Apple.
- Target Audience: Serves remote workers, digital nomads, freelancers, global content creators, and businesses paying for foreign software and operational tools.
Regulatory Compliance & Growth Strategy
Registered as a Money Services Business (MSB) with the U.S. Financial Crimes Enforcement Network (FinCEN), Pouchers routes fiat banking operations through regulated partner institutions rather than directly holding fiat deposits.
The new capital will be used to expand engineering capacity, broaden its multi-currency account capabilities, and scale its user base across West Africa.
