Capi Money, a London-based payments and financial infrastructure provider aiming to open up emerging markets, has secured an Electronic Money Institution (EMI) licence from the UK Financial Conduct Authority (FCA).
Mitch Riley, co-founder and CEO of Capi, says the authorisation enables the firm to “issue e-money and deliver efficient payment solutions tailored to UK businesses transacting with emerging markets”.
A statement from Capi adds that the EMI licence also “unlocks product, banking, and growth opportunities while strengthening customer protections and regulatory oversight”.
Founded in 2023 by Scott Liddle, Tom Watson, and CEO Riley, Capi offers a digital wallet and foreign exchange (FX) platform that facilitates payments in over 30 currencies. The platform enables businesses to process payments for importers, settle international invoices, and pay suppliers abroad within 24 hours.
Capi says that capital flows between the UK and Africa surpass £80 billion annually, yet payments into these developing regions remain “costly and slow due to fragmented infrastructure, FX friction, and limited local liquidity”. With its FCA approval, the company aims to address these challenges through its regulated platform, initially focusing on eight African markets where it already operates.
In early 2025, Capi raised around £15 million in a Series A funding round led by Creandum, with participation from Janngo.africa and existing backers including Y Combinator, Kara Investments, Rebel Fund, Maiora, Firstminute Capital, and more.
Reflecting on the paytech’s progress a year after the Series A, Riley shared in a LinkedIn post that Capi’s headcount has grown from 15 to over 60 employees across Europe and Africa. The company, which is nearing $1 billion in annualised volume, has also expanded its presence with new offices in London, Paris, Nairobi, Douala, Dakar, and Abidjan.
Source: https://www.fintechfutures.com/regulations-compliance/fca-grants-emi-licence-to-capi-money
