Five months after running out of capital, Chimoney gets a new owner

CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, has completed its acquisition of Chimoney, the Nigerian-founded payments startup that announced its shutdown in May after running out of capital to sustain operations, Uchi Uchebeke, Chimoney’s founder, told TechCabal. The all-cash acquisition ends five months of uncertainty for the Techstars-backed startup, which had suspended transactions, begun refunding customer balances, and faced the possibility of a permanent shutdown.