FINTECH AFRICA | Web3-Backed Chimoney Acquires Nigerian Social Payments App, Scrim

Chimoney, a global payment solutions provider backed by Techstars and headquartered in Canada, has successfully acquired Scrim, a Nigerian social payment app designed for the digital generation.

Scrim, which was already leveraging Chimoney’s API and infrastructure is set for a relaunch in December 2023 with new features, Chimoney said.

Chimoney, founded in Toronto by Uchi Uchibeke, a former Shopify engineer, has been recognized for its innovative approach to global payouts with a vision to democratize access to financial services, especially in regions underserved by major platforms like PayPal.

Chimoney is backed by Web3 entities including:

• Interledger Ptotocol

Scrim, founded by teenager, Pleasant Balogun, who serves as the company’s CEO and CTO, allows users to send and receive money using social media handles, catering to a generation that spends a significant amount of time online.

With Chimoney’s acquisition, Scrim’s already impressive functionality is poised for substantial enhancement.

“Our teams have been working tirelessly to upgrade the initial app features, as well as introduce exciting new features,” Chimoney said.

The full integration of Scrim with Chimoney’s API promises greater stability and reliability for Scrim while maintaining the Scrim name and brand. According to Chimoney, their brand and design team is committed to maintaining Scrim’s original identity while making a few changes to bring in some elements of Chimoney into Scrim.

Among the new features that Scrim users can expect in the coming weeks include:

• Earning opportunities
• Global real-time payments
• Shop with Scrim feature
• AI features

Users will have the chance to earn effortlessly, whether it’s shopping through the app or completing tasks like sharing articles or engaging with social media posts, according to Chimoney.

The Scrim app will empower users to send money to anyone in the world using just their email or phone number of Interledger Wallet Address (Payment Pointer), Chimoney said. It will also empower verified Scrim users to receive payments worldwide, regardless of their location.

Interested parties can join the Scrim waitlist at scrim.ai