Vepay

Based in Nigeria, Vepay is a financial service specializing in virtual card payments, enabling users to execute secure international transactions effortlessly. Vepay, founded in 2024 in Lagos, Nigeria, offers a platform that provides virtual card payment solutions. The company has engaged in a single funding deal, raising NGN 26. 5 million from individual investors on July 16, 2025, to enhance its offerings.

The founder's prior history is not disclosed. Vepay specializes in providing a leading virtual card payment platform, offering users a Virtual Dollar Card designed for hassle-free international transactions. Users can generate virtual cards quickly—within two minutes—after funding their Naira wallets, facilitating secure payments globally. The service caters to individuals seeking seamless international shopping, expatriates managing cross-border transactions, and businesses facilitating global payments, particularly in Nigeria and Kenya.

Vepay generates revenue through transaction fees associated with its virtual card services. Customers fund their accounts through local payment methods before creating virtual dollar cards for international use, with each transaction incurring a fee. The company may also establish partnerships with retailers, allowing these partners to provide virtual card solutions, although specific pricing details remain undisclosed. In July 2025, Vepay raised NGN 26.

5 million in venture funding to develop its infrastructure, meet regulatory requirements, and expand its digital payment platform across Africa. The company aims to launch new products and enhance its service offerings while targeting additional markets to reach a broader customer base.