Tell us about you and your team:

Our company, Verto, was founded by Ola Oyetayo, chief executive officer, and Anthony Oduu, chief technology and product officer. Both began their careers in finance and then decided to become entrepreneurs.

In 2017, during a casual poker game, Ola and Anthony discussed how difficult it was to send money from their home country, Nigeria, and other African countries. The more they spoke, the greater the opportunity for change seemed. Inspired, they continued the conversation and eventually launched Verto as an informal WhatsApp group for currency exchange in 2018. Months later, as traction grew, they pitched their solution to Y-Combinator in San Francisco and secured a spot in the 2019 winter cohort.

We have since hired world-class, experienced leaders to drive growth at Verto, which has evolved into a robust technology platform with an operational presence in five countries—the United Kingdom, Nigeria, Kenya, South Africa, and the United Arab Emirates—and over 170 employees.

What inspired you to participate in the Milken-Motsepe Prize in FinTech? In addition to competing for the $1 million grand prize, what do you hope to achieve through this experience?

We felt the goal of the Prize aligned with Vertoʼs values of advancing financial inclusion in emerging markets. Participating seemed like a natural fit and an opportunity that would enable us to build upon our solution for cross-border payments in Africa.

Since entering the competition, Verto has gained unparalleled access to coaching, educational resources, and networking opportunities. A key highlight was connecting with FinTech innovators at the Milken Institute Conference in Abu Dhabi. The insights gained and relationships built through this experience are already shaping Verto's journey and enhancing our service across Africa.

We plan to leverage the capital from the Milken-Motsepe prize to develop our Lite product further. This solution is crucial in advancing financial inclusion by enabling micro, small, and medium-sized enterprises—including informal Nigerian start-ups—to access global cross-border payments through our app.

How will your solution expand access to financial services in emerging and frontier markets, particularly for underserved communities?

The business-to-business (B2B) cross-border payments market was worth $39.3 trillion in 2023, with approximately 97 percent currently serviced by banks (FXC Intelligence). Emerging markets, particularly in Africa, are among the fastest-growing trade regions yet remain severely underserved by traditional systems.

Verto bridges the gap with a B2B cross-border platform, simplifying payment collection and transactions across regions. Our self-service solution tackles liquidity, complexity, and accessibility challenges, enabling businesses in Africa and emerging markets to manage transactions faster and at lower costs than traditional methods.

Our impact is evident in our work with Sun King in Kenya, which provides solar home energy solutions to those without access to traditional grids. Sun King faced major cross-border payment challenges due to liquidity shortages in local banks amid a global dollar crisis. Verto solved this by ensuring liquidity, offering a rate lock against currency volatility, and enabling seamless wallet-to-wallet transfers between subsidiaries. This streamlined their financial operations, allowing them to focus on delivering sustainable energy solutions worldwide.

Our solutions have already helped over 4,000 businesses. Since 2019, we have grown from processing $5 million in transaction volumes monthly to over $2 billion.

How does your team and solution stand out from the other finalists in this competition? What unique qualities or approaches set it apart, and what distinctive impact do you aim to achieve through your solution?

It has been inspiring to share a platform with many incredible FinTechs, providing fantastic solutions to expand access to financial services.

Vertoʼs success is grounded in our understanding that each market has unique constraints. This approach has led us to develop a comprehensive suite of products, each targeted at solving key challenges that often prevent businesses from streamlining cross-border payments. It is this breadth of solutions that sets us apart.

For example, our pay-by-link feature allows clients to receive payments effortlessly, while our corporate cards enable global spending with no foreign transaction fees. Additionally, our Marketplace empowers businesses to exchange currencies securely, connect with other users, and access illiquid currencies on their terms.

Ultimately, our aim is not just to be a payment platform, but a partner in economic development. By enabling businesses in underserved markets to access affordable, secure, and innovative payment solutions, we help drive sustainable growth and prosperity. Verto bridges the gap between emerging and developed markets, empowering businesses to thrive globally.

By reducing costs, we help businesses achieve higher margins and directly impact the economy by enabling job creation. Additionally, our solution is international, facilitating Africa’s trade with the rest of the world and strengthening global economic connections.