Lagos-based fintech startup HitchPay has processed over $2m in transactions in the past four months, underscoring rising demand for streamlined cross-border payments among African businesses and diaspora communities.
The platform, which counts more than 20,000 active users, is growing at a rate of 22 per cent month over month, according to company data, reflecting strong early traction in a market long hindered by fragmented payment infrastructure and high transaction costs.
HitchPay aims to simplify global financial transactions for African entrepreneurs, freelancers, and diaspora members who often face hurdles when sending or receiving money internationally.
“For African founders and freelancers, getting paid globally is still far harder than it should be,” co-founder of HitchPay Paul Obalonye said in a statement. “We built HitchPay to remove the friction so geography no longer determines who can participate in the global economy.”
HitchPay consolidates multiple financial needs into a single platform, offering tools for international payment acceptance, remittances, and other digital financial services. This approach reduces reliance on multiple providers, streamlines compliance, and minimises transaction fee challenges that have historically hindered African businesses from engaging in global trade.
“What we’re seeing isn’t just usage; it’s repeat behaviour,” the executive added. “That’s usually the clearest signal that you’re solving a real problem, not just offering another fintech feature.”
The startup has set ambitious long-term goals, aiming to rank among the top one per cent of financial services providers in Africa and ultimately pursue a public listing. Its success comes at a time when digital commerce and cross-border transactions are expanding rapidly across the continent. According to the World Bank, remittances to sub-Saharan Africa totalled approximately $54bn in 2022, highlighting the growing financial needs of African diaspora communities.
“The long-term play is infrastructure,” Obalonye said. “If African businesses are going to compete globally, payments have to be invisible, fast, and trusted. That’s the layer we’re building.”
HitchPay said its early traction demonstrates the potential for fintech solutions to address structural inefficiencies in African financial systems.
With repeat user engagement and consistent growth, the company is positioning itself to become a key player in enabling African businesses to participate in the global economy.
