Cardtonic Obtains $2.1M for Business Spending Platform
Written by Black Hot Fire Network Team on January 18, 2026
Cardtonic, a Nigerian fintech company, has secured $2.1 million in seed funding. The company plans to use the funding to develop Pil, a new business spending and expense management platform.
Tonic Technologies Ltd., operating as Cardtonic, was founded in 2019 by Balogun Usman and Faturoti Kayode (Kay). Emmanuel Sohe is currently the Chief Executive Officer. The company previously offered virtual dollar cards, eSIMs, gift card trading, bill payment solutions, and gadget retail services across Africa.
Development of Pil
Pil was developed in response to Cardtonic’s internal difficulties in managing subscriptions, advertising payments, and international transactions. The platform offers businesses labeled multi-card management, real-time transaction monitoring, and unified spending dashboards. It also supports multi-currency funding options including naira, cedis, and stablecoins.
Platform Features and Launch
Pil is designed as a standalone solution for startups and small-to-medium enterprises seeking improved financial oversight. Cardtonic intends to integrate Pil with accounting platforms like QuickBooks and Xero. The platform is scheduled to launch in January 2026, aiming to become a comprehensive business spend operating system for the African market.
