ByteX merges with Cenne, taps Onyeka Akumah to lead cross-border fintech
What's the deal? ByteXDealroom has a profile for this one. Try Dealroom → has merged with CenneDealroom has a profile for this one. Try Dealroom → to form ByteX FinancialDealroom has a profile for this one. Try Dealroom →, a cross-border payments company spanning North America, India, and Africa. Nigerian entrepreneur Onyeka Akumah will lead the combined business as chief executive officer from its Canadian headquarters. Deal terms were not disclosed.
The rationale: ByteX contributes cross-border payments infrastructure, while Cenne adds AI-native technology and an African and Caribbean business network. The merged firm has processed more than C$3.6 billion since 2023 and runs at roughly C$1.2 billion in annualised transaction volume across Canada, the US, and India.
Who's leading it? Akumah founded mobility platform TreepzDealroom has a profile for this one. Try Dealroom →, which it grew to five countries and more than six million customers, and previously started RentSmallSmallDealroom has a profile for this one. Try Dealroom → and FarmcrowdyDealroom has a profile for this one. Try Dealroom →. He also held roles at JumiaDealroom has a profile for this one. Try Dealroom →, Konga, Wakanow, and Guaranty Trust Bank, bringing emerging-market operating experience to the role.
Who else is at the top? Co-founder and president Charles Sanda, a former BMO managing director, has structured over $20 billion in financing across North America and Sub-Saharan Africa. Co-founder and chief operating officer Sayan Roy, an engineer with a master's from Queen's University, leads product and technology delivery.
Why now? ByteX plans to use Cenne's network to expand into African and Caribbean corridors in 2027. The merger consolidates payments and technology capabilities ahead of that push.
What's the endgame? The company wants to build financial infrastructure linking three regions it says traditional finance has underserved. "It is about combining technology, experience, and market understanding to build financial infrastructure that helps businesses move money and participate in trade across North America, India, and Africa," Akumah said.
The signal: The merger reflects a broader push to connect North America, India, and Africa through unified payments rails, betting that faster money movement across these corridors is a growing commercial opportunity.
Read more: naijapreneur.com
Image credit: Generated with Gemini
