Cardtonic

Based in Nigeria, The Tonic Technologies LTD, doing business as Cardtonic delivers innovative digital payment solutions, including virtual dollar cards, gift card exchanges, and bill payment services, facilitating seamless transactions for users across various platforms. The Tonic Technologies LTD, doing business as Cardtonic is a digital payment solutions provider headquartered in Lagos, Nigeria. Founded in 2019 by co-founderrs Balogun Usman and Faturoti Kayode, the company focuses on enabling users to transact effectively in foreign currencies. In January 2026, Cardtonic raised USD 2.

1 million in seed funding. Cardtonic primarily offers a diverse suite of digital payment solutions, including virtual dollar cards, gift card trading, bill payment services, and gadget shopping. Their virtual dollar cards allow users to shop online, pay for services, and make international purchases seamlessly. The gift card trading service enables customers to exchange unused gift cards for cash at competitive rates.

Bill payment services facilitate the payment of utilities, air-time, and data across more than 100 countries. Additionally, Cardtonic provides local and international eSIMs, virtual bank account setups, and access to a wide range of gadgets, primarily targeting the African market, with a focus on Nigeria and other countries where digital payment solutions are in demand. Cardtonic generates revenue through transaction fees and commissions associated with its various services. Users can sell unused gift cards or purchase virtual dollar cards, with Cardtonic retaining a percentage as a transaction fee.

Additionally, the company generates income from bill payments and eSIM purchases, catering to both individual consumers and businesses. The pricing structures are designed to be competitive in the digital payments sector, ensuring a broad client base and sustainable revenue growth. In January 2026, Cardtonic raised USD 2. 1 mn in Seed funding, which will be utilized to develop new products and enhance its business spending management capabilities.

The company plans to introduce a new product called Pil and is targeting expansion into new markets, with a specific focus on reaching users in more African countries by the end of 2026.