Zone, Africa's premier regulated blockchain network specializing in payments, recently announced a significant achievement in securing $8.5 million in funding during a seed funding round that exceeded expectations. This funding round was led by prominent VC firms Flourish Ventures and TLcom Capital, underscoring the growing interest and support for Zone's innovative approach.

This milestone represents a crucial juncture for Zone as it advances its mission of establishing a decentralized payment infrastructure based on blockchain technology for financial institutions across Africa. With this fresh injection of capital, Zone is poised to enhance its network's reach within the region, facilitating greater connectivity with banks and financial service providers.

Established in 2008 by Obi Emetarom, Emeka Emetarom, and Wale Onawunmi, the company initially focused on delivering tailored software development solutions to commercial banks. Over time, it transitioned into offering comprehensive services such as automating lending operations for banks and implementing blockchain solutions starting in 2020.

Obi Emetarom envisions blockchain as the future of financial services, including payments, aligning closely with Zone's overarching vision. In a strategic move in 2022, the Nigerian fintech firm rebranded itself as "Zone," emphasizing its commitment to being a regulated blockchain payment infrastructure provider. Notably, Zone has already onboarded more than 20 major commercial banks, fintech companies, and other financial institutions onto its Layer-1 blockchain network across Africa.