January 24, 2025
Accrue, a platform focused on enhancing cross-border payments in Africa, has raised $1.58 million in a seed funding round. The investment, led by Lattice Fund, also saw participation from Maven 11, Lava, Kraynos Capital, and Distributed Capital. This capital will help accelerate the company’s efforts to expand its payment infrastructure and improve its service offerings across the continent.
Initially launched as a dollar-cost averaging tool for crypto and stock investments, Accrue shifted its focus in 2022 after observing its potential in cross-border payments. The company’s pivot to Cashramp, a cross-border payment infrastructure, has proven crucial in its growth. Cashramp, initially designed to help users make deposits, has now become a central part of Accrue’s business, contributing significantly to the company’s revenue generation.
Accrue's financial trajectory has strengthened since its pivot, with the company reaching profitability in mid-2023. The seed round will support the expansion of its platform, which now serves over 200,000 users across multiple African countries. With plans to introduce additional features like virtual US bank accounts and direct USD payouts, Accrue is positioning itself for continued growth in the cross-border payment sector.
About Accrue
Accrue is a cross-border payment platform operating across Africa, offering tools like the Accrue Card, Cashramp, and virtual bank accounts to simplify financial transactions for individuals and businesses. Founded by Clinton, Adesuwa, and Zino, the company has grown to serve over 200,000 users.
Website: https://beacons.ai/accrue
X: @useaccrue
About Investor
Lattice Fund
Lattice Fund is a venture capital firm that invests in early-stage startups, with a focus on emerging technologies in sectors like fintech and blockchain. The firm aims to support companies that are driving advancements in financial systems and other critical industries.
Location: San Francisco, California
Website: https://www.lattice.fund/
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