Timon Secures Investment to Build Pan-African Travel Payments Solution

Nigeria-based travel payments startup, Timon, has received an undisclosed investment from Alliance, a crypto accelerator focused on emerging markets. The funding will support product development, market expansion into new African countries, and the growth of its stablecoin infrastructure.

Timon was founded in 2024 by Tomi Ayorinde and Chizaram Ucheaga to address challenges faced by African travelers when making payments abroad. The platform allows users to spend, save, and move money across borders using local currencies and stablecoins – essentially creating a “Revolut for African travellers.”

The startup has already gained significant traction, reaching over 100,000 users in 16 countries across Africa. Nigeria, Kenya, Ghana, and South Africa represent Timon’s largest markets currently.

“We’re excited to partner with Alliance as we build the future of travel payments for Africans,” said Tomi Ayorinde, co-founder of Timon. “This investment will enable us to accelerate our growth and expand our services across the continent.”

The funding comes at a time when stablecoins are gaining popularity in Africa, with nearly 70% of all transactions on the Timon platform now occurring through these digital assets. This trend highlights the growing adoption of crypto-based financial solutions among African consumers.