The annual flow of capital between the United Kingdom and Africa, valued at a staggering £80 billion, has long been hampered by significant inefficiencies, including high costs and slow transaction speeds stemming from fragmented financial infrastructure and persistent foreign exchange friction. Addressing these long-standing challenges, London-based financial technology provider Capi Money has achieved a critical milestone by securing an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA). This pivotal authorization, granted to the company founded in 2023, legally empowers Capi Money to issue e-money and deliver specialized payment solutions tailored to this complex trade corridor. The license represents a multi-faceted strategic advantage, positioning the firm to fundamentally reshape how UK businesses engage with emerging African markets by providing a streamlined, efficient, and regulated financial channel. This development is not merely a procedural step but a foundational move that unlocks the company’s core mission to overhaul a vital economic pathway.
The Strategic Impact of Regulatory Approval
Securing the FCA license is a transformative event for Capi Money, extending far beyond simple legal compliance. According to CEO Mitch Riley, this regulatory approval serves as a critical catalyst for forging essential banking partnerships, accelerating product development, and building institutional trust. With the EMI license in hand, the company can now fully operate its flagship platform, which integrates a digital wallet with a comprehensive foreign exchange (FX) service supporting over 30 currencies. This infrastructure is purpose-built to solve the specific pain points of international commerce, promising the settlement of invoices and supplier payments within a 24-hour window—a dramatic improvement over traditional methods. The authorization allows Capi to directly manage client funds and execute payments, removing reliance on costly intermediaries and reducing the operational friction that has historically plagued UK-Africa transactions. Consequently, the license is the cornerstone of the company’s value proposition, enabling it to offer a faster, more cost-effective, and secure alternative for businesses navigating this complex financial landscape.
A Foundation for Accelerated Growth
The FCA’s endorsement arrived at a time of remarkable expansion for Capi Money, solidifying its trajectory from a promising startup into a significant player in the international payments sector. Fueled by a successful £15 million Series A funding round, the company’s growth over the past year was substantial, with its annualized transaction volume approaching the $1 billion mark. This rapid scaling was also reflected in its operational footprint, as its team expanded from just 15 to over 60 employees, necessitating the opening of new offices in London, Paris, and several key African cities. The acquisition of the EMI license was the final piece of the puzzle, providing the regulatory framework needed to leverage this growth effectively. With this official backing, Capi Money immediately turned its focus toward deepening its impact across the eight African markets where it currently operates, using its newly validated status to enhance its service offerings and solidify its market position. This milestone cemented the company’s ability to pursue its ambitious mission with greater authority and capacity.
