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Capi Money UK Gains FCA EMI Authorisation to Accelerate UK–Africa Payments
Capi Money Group, which enables businesses to make cross-border payments to and from emerging markets, today announced that Capi Money UK Ltd has been authorised by the UK Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI).
The authorisation allows Capi to issue electronic money and provide regulated payment services in the UK, making it easier for UK businesses to move money into emerging markets and to collect payments from their customers. It marks a key milestone in the Group’s strategic development and reflects its commitment to operating to the highest standards of safeguarding and compliance.
UK businesses move tens of billions of pounds each year into emerging markets through trade, investment, and remittances, yet payments into these regions remain costly and slow due to fragmented infrastructure, FX friction, and limited local liquidity. UK-Africa capital flows alone exceed £80 billion annually. FCA authorisation provides Capi UK with a regulated platform to support these flows, starting with 8 African markets where the Group already operates.
Mitch Riley, Cofounder & CEO of Capi, commented: “Receiving authorisation as an Electronic Money Institution from the FCA marks a key milestone for Capi UK. It enables us to issue e-money and deliver efficient payment solutions tailored to UK businesses transacting with emerging markets. Speed and reliability of payment is essential in international commerce. By streamlining cross-border flows through our digital wallet and FX platform, we can offer faster, cheaper, and more reliable settlement for our customers into markets which are underserved by traditional banking infrastructure. With over £80 billion in UK-Africa capital flows, this is a significant opportunity to unlock better value and deeper market access for our clients.”
Founded in 2023 by Mitch Riley, Scott Liddle, and Tom Watson, Capi was created to address the cost and complexity of international payments for businesses in emerging markets. The company has raised over $18 million in equity funding to date, backed by investors including Creandum, Y Combinator, firstminute capital, and Kima, among others, and angels from Revolut, Checkout and Onfido.
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