Vault Pay, a fintech startup based in the Democratic Republic of Congo (DRC), has obtained full regulatory approval from the Central Bank of Congo.
Vault Pay, a fintech startup based in the Democratic Republic of Congo (DRC), has obtained full regulatory approval from the Central Bank of Congo.
This license allows the company to move forward with its plans to offer immediate payment solutions, user-friendly banking services, and financial products distributed through telecommunications networks.
According to its founders, the fintech is designed to simplify financial services by enabling telecom providers to offer banking solutions directly.
In 2023, Vault Pay was selected for the Y Combinator Summer 2023 (S23) accelerator program, alongside Nigeria’s ChowCentral, a food delivery service, and Eden Care, a Rwandan healthcare startup that became the first from the country to join the program.
The fintech allows users in the DRC to open an account in just one minute and receive a Vault Pay VISA card within 24 hours. This enables seamless payments and cash withdrawals worldwide.
Y Combinator and Tekedia Capital. backed Vault Pay. Ndubuisi Ekekwe, Chairman of Tekedia Capital, shared that the founders, Ntambwa Basambombo and Christel Ilaka, demonstrated strong dedication to building a financial infrastructure in the DRC and Africa.
Tekedia Capital has made a significant investment in Vault Pay, supporting its mission to reshape the financial sector in Central Africa.
The company’s license includes authorization for agency banking, card issuing, payment aggregation, and other financial services. With the approval, the fintech is preparing for a new funding round and is open to investor participation.
Ekekwe emphasized that while investment risks exist globally, Central Africa presents valuable opportunities from New York and London to Kinshasa.
He encouraged investors to engage with Vault Pay as it progresses toward greater expansion in the fintech industry.
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