Verto

Verto is a cross-border payment platform for businesses; our mission is to simplify cross-border payments in emerging markets, particularly Africa.

We do this by providing businesses with superb infrastructure that they can use to convert, hold, receive and make payments across 49 currencies.

By connecting Businesses, Liquidity providers, FX Brokers, and Payment Institutions, and banks through our marketplace, companies can choose their foreign exchange rates at the time that suits them, therefore, providing a constant liquidity flow cheaply.

High-Level Overview

Verto is a fintech company specializing in cross-border payments and foreign exchange (FX) solutions, primarily targeting businesses operating in emerging markets, especially Africa. Its platform enables companies to convert, hold, receive, and make payments in over 49 currencies, simplifying international transactions through an API-driven, banking-as-a-service infrastructure. By connecting businesses with liquidity providers, FX brokers, payment institutions, and banks, Verto offers competitive FX rates, continuous liquidity, and faster, more transparent, and cost-effective cross-border payments. This makes it especially valuable for businesses dealing with complex or underdeveloped financial systems, facilitating seamless global operations and growth in international markets[1][2][3][5].

Origin Story

Founded in 2018 and part of Y Combinator’s Winter 2019 batch, Verto was co-founded by Anthony Oduwole and Ola Oyetayo. Anthony brings a background in banking and capital markets with experience at Bank of America Merrill Lynch, Barclays, and Lloyds Bank, alongside entrepreneurial ventures in education and property development. The idea for Verto emerged from firsthand challenges in making international payments in emerging markets, notably Africa, highlighted during informal discussions such as a poker game where Ola shared frustrations about supplier payments abroad. Early traction came from addressing these pain points, leading to rapid growth and a team now numbering around 170 employees based in London[2][3].

Core Differentiators

• Product Differentiators: Verto offers a comprehensive suite of financial services including local and global business accounts, multi-currency wallets, payment links, and corporate cards, all designed to streamline collections, payouts, FX, and expense management for businesses[3][5].

• Developer Experience: Its API-first approach allows seamless integration into client systems, enabling automation of financial tasks and flexible currency management[1][5].

• Speed, Pricing, Ease of Use: Verto reduces settlement times and cross-border payment costs compared to traditional banking, providing real-time FX rates and liquidity selection to optimize pricing[1][5].

• Community Ecosystem: By connecting businesses, liquidity providers, FX brokers, and banks in a marketplace model, Verto fosters a dynamic ecosystem that supports continuous liquidity and competitive FX rates[1][2].

Role in the Broader Tech Landscape

Verto rides the growing trend of digitization and globalization of financial services, particularly the increasing demand for efficient cross-border payments in emerging markets. The timing is critical as businesses expand internationally and require more transparent, cost-effective, and faster payment solutions beyond traditional banking infrastructure. Market forces such as the rise of API-driven fintech platforms, regulatory advancements in electronic money institutions, and the growth of African economies favor Verto’s model. Its influence extends by enabling startups and enterprises to operate globally with confidence, thus accelerating economic integration and innovation in underbanked regions[1][3][4][5].

Quick Take & Future Outlook

Looking ahead, Verto is positioned to deepen its footprint in emerging markets while expanding its global network and product offerings. Trends such as increased cross-border e-commerce, demand for multi-currency business accounts, and embedded finance solutions will shape its trajectory. Verto’s continued focus on regulatory compliance and API innovation will likely enhance its competitive edge, enabling it to serve a broader range of industries and geographies. As global commerce becomes more interconnected, Verto’s role as a facilitator of seamless, transparent, and cost-efficient international payments is expected to grow, reinforcing its mission to simplify cross-border payments and FX for businesses worldwide[2][5].