Chimoney, a global payment solutions provider headquartered in Canada, has successfully acquired Scrim, a Nigerian social payment app tailored for the digital-savvy generation. The acquisition will drive Scrim's product development and go-to-market strategy.

Scrim, founded by teenager Pleasant Balogun, the company’s CEO and CTO, initially allowed users to send and receive money using social media handles, catering to a generation deeply engaged in online activities. Following this acquisition, however, the company is set for a relaunch and infrastructure revamp that will see it leverage Chimoney’s APIs. This relaunch is slated for December 2023.

Chimoney, founded in Toronto by Uchi Uchibeke, a former Shopify engineer, provides payment solutions, wallet services and developer APIs. The company is backed by Techstars, Google, and web3 outfits including Celo, Interledger Protocol, and Ripple. “Our teams have been working tirelessly to upgrade the initial app features, as well as introduce exciting new features,” Chimoney said about its latest acquisition.

Upcoming features for Scrim users include earning opportunities through activities like shopping within the app, completing tasks, and engaging with social media posts. Additionally, users can anticipate global real-time payments, a Shop with Scrim feature, and AI capabilities.

According to Chimoney, the Scrim app will empower users to send money globally using just their email, phone number, or Interledger wallet address. Verified Scrim users will also be able to receive payments worldwide, irrespective of their location. The acquisition signifies a move by Chimoney to expand its influence in the digital payment landscape,