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.
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.
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.
South African police warned anti-immigration groups Wednesday against taking the law into their own…
WASHINGTON (7News) — The two brothers accused of shooting at an undercover U.S. Park Police…
Despite Western governments’ long-standing preoccupation with China’s role in Africa, the major geopolitical transformation occurring…
Standard Bank Group has been ranked the most AI-mature bank in South Africa and the…
Kenya's orchestral culture has long been associated with wealthy expatriates and older audiences. But today,…
Early-career researchers, graduate students, professionals, and innovators across Africa are invited to apply for the…