Nigerian fintech startup Collect Africa has announced it will cease operations by August 31, as its founders shift focus to their new stablecoin-based platform, Autospend.
- Nigerian fintech startup Collect Africa has announced it will cease operations by August 31, as its founders shift focus to...
- The company, which helped small and medium-sized businesses streamline payments since its launch in 2021, described the decision as difficult...
- Collect Africa was founded to simplify payment collections for African SMEs, offering a unified dashboard for bank transfers, POS transactions,...
- “But over time, we realised there’s a much larger opportunity to solve a global problem.” Autospend, launched earlier in 2025, allows...
Keep reading for the full breakdown on Autospend — everything you need to know is covered below.
The company, which helped small and medium-sized businesses streamline payments since its launch in 2021, described the decision as difficult but necessary to pursue a larger vision in global financial solutions.
In an email message, users have been advised to withdraw all remaining funds before the shutdown date, a report by Tekedia stated.
RelatedPosts
From local payments to global stablecoin ambitions
Co-founder Abraham Ojes explained that the growing demand for faster, more affordable cross-border transactions drove the need for Autospend, which aims to fill this gap using stablecoins.
“After four years of building Collect and helping hundreds of merchants manage payments, we saw firsthand how big the need is for global, instant, and affordable money movement,” Ojes said.
Collect Africa was founded to simplify payment collections for African SMEs, offering a unified dashboard for bank transfers, POS transactions, QR codes, and recurring payments.
According to investor Ajim Capital, the platform processed over $4 million in transactions, served 5,000 businesses, and achieved a 25 percent annual growth rate.
Despite its success, the team recognised a broader opportunity in stablecoin, digital currencies pegged to stable assets like the U.S. dollar, which promise lower fees and faster cross-border transfers.
“Collect App has been an incredible journey,” Ojes noted. “But over time, we realised there’s a much larger opportunity to solve a global problem.”
Autospend, launched earlier in 2025, allows businesses and individuals to manage payments, savings, and expenses using stablecoins.
The pivot reflects a broader trend in African fintech, where startups move beyond local payment solutions to infrastructure supporting international financial access.
Meanwhile, stablecoins are gaining traction in Africa due to their potential to bypass high remittance costs and currency volatility.
For businesses, they offer a reliable alternative to traditional banking hurdles, such as delayed settlements and failed transactions. Collect Africa’s transition to Autospend signals confidence in this emerging technology.
“As part of this strategic shift, we made the decision to sunset Collect by August 31 so we can dedicate all resources to growing Autospend,” Ojes said.
About Collect Africa
Founded in 2021 by Abraham Ojes and Wale Martins, Collect Africa was designed to help businesses accept payments seamlessly across multiple channels.
Its mission was to connect merchants to local payment methods while reducing transaction failures and costs. The platform’s features included automated retries for failed payments, customisable checkout options, and instant settlements, tools that saved businesses up to 40 percent in payment processing costs.
Backed by ODX and GreenHouse Lab investors, Collect Africa became a trusted name in Nigeria’s fintech space. Though it is winding down, its legacy lives on through Autospend, which could redefine how Africa interacts with global financial systems.