Zazuu Shuts Down After 5 Years of Operation Due to Lack of Funding

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Amazin Zion

Mar 1, 2023

Zazuu, a London-based fintech company aiding cross-border payment networks in Africa, has announced that it will shut down due to a lack of funding. Before now, the firm has raised $2 million in different financing rounds from investors like Founder Factory and Launch Africa.

“We explored every option before making this decision,” the company said in a LinkedIn post announcing the closure.

The firm (Zazuu) was founded by Kay Akinwunmi (CEO), Korede Fanilola (COO), Tosin Ekolie (CTO), and Tola Alade (CDO) in 2018 and raised a $200,000 seed round from Launch Africa and ODBA in August 2021. After this, the company raised $2 million from Founders Factory Africa, Lauch Africa, ODBA, HoaQ, Tinie Tempah, Jason Njoku, Babs Ogundeyi, and other angel investors.

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