Success Story of Verto: Revolutionizing Money Transfers for African Entrepreneurs
Ola Oyetayo and Anthony Oduu founded Verto, a money transfer service targeting Nigerian expats, after late-night poker sessions in London.
Oyetayo left his safe accountant job in London to venture into the risky business of transferring money to Africa, leading to the inception of Verto.
Verto emerged from a poker game where Oyetayo met his co-founder, Anthony Oduu, who had a background in capital markets with top financial institutions.
The duo, inspired by the challenges faced by expatriate Nigerians in sending money home, decided to create a solution by launching Verto.
Today, Verto has grown significantly, employing 200 individuals and processing $250m monthly across 22 African countries from its London headquarters, with seven global offices.
Through funding rounds and strategic partnerships, Verto has solidified its position in the market, attracting investments and expanding its reach.
Verto’s success lies in its focus on building trust, reliability, and delivering on promises to facilitate international money transfers for businesses.
The company’s humble beginnings on WhatsApp have now evolved into a robust tech platform, offering a multi-currency wallet and efficient solutions for small enterprises.
Oyetayo’s entrepreneurial journey, influenced by his parents’ ventures in healthcare, showcases the resilience and determination needed to overcome obstacles in the money transfer industry.
Despite regulatory challenges and currency issues, Verto remains committed to its expansion plans, aiming to become a key player in cross-border payments within Africa.
