CapitalSage buys Chimoney 4 weeks after shutdown

Four weeks ago, Uchi Uchibeke announced that Chimoney, the cross-border payments startup he had spent four years building, was shutting down. The product worked, he said. The capital ran out. He wound down cleanly, was going to return every client dollar, and was moving on.

Today, Chimoney is coming back.

CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, has entered into an agreement to acquire Chi Technologies Inc., the Canadian federal corporation that operates as Chimoney. Upon closing, Chimoney becomes CapitalSage’s first payment entity in Canada, and the platform will relaunch as a cross-border payments infrastructure business serving the Africa–Canada corridor and beyond.

That sequence places Technext’s reporting inside the story. Our coverage was among the publications that reached CapitalSage, and Uchibeke’s exclusive right-of-reply responses formed part of the public record that shaped how the shutdown was understood by the market.

Read also: Chimoney user still awaits promised $355.28 refund 38 days after shutdown

What the acquisition means for unresolved shutdown cases

Technext’s second story on Chimoney, published on May 25, documented a structural gap in the wind-down process: end users of third-party apps built on Chimoney’s API fell outside the direct refund process. One anonymous user had a $355.28 balance frozen since April 17 with no resolution at the time of publication.

Asked about this directly, Uchibeke told Technext: “Chimoney under CapitalSage is engaging all former clients on a case-by-case basis, which includes addressing any outstanding end-user situations from the wind-down period.”

On the specific $355.28 dispute, Uchibeke told Technext he needed to verify the settlement status before responding, adding: “I want to make sure anything I say is accurate rather than restating a prior position without checking.” Technext has separately reported that Pixel Pirate Studio, the company operating the Off Road Champion app through which the funds originated, told the user in writing on May 28 that they had not received any funds from Chimoney. That discrepancy remains open, and Technext will update when a verified response is received.