In Nigeria’s fast-evolving tech ecosystem, one myth continues to linger: that all meaningful innovation happens in Lagos. It’s a myth that Chiedu Victor, CEO of Hizo Technology Limited, is determined to break. From his base in Asaba, Delta State, Victor and his team have quietly built two thriving fintech products, Hizo, a borderless payments platform for African travellers, and Glyde, a robust B2B payment processor helping businesses collect, settle, and disburse funds seamlessly.
For Victor, challenges aren’t obstacles; they’re launchpads. “Every great inventor encountered a problem and, in the process of finding a solution, stumbled on something that made life easier for everyone,” he says. “That’s the story of Hizo.”
The Problem Hizo Solves
For years, Nigerians travelling within Africa have faced one consistent frustration: spending naira outside Nigeria. Whether in Kenya, Ghana, or Rwanda, accessing local currencies has been a nightmare. Travellers juggle conversion rates, high transaction fees, and the constant risk of being shortchanged.
“When you travel across Africa, it’s almost impossible to spend your local currency,” Victor explains. “Imagine being a Nigerian in Kenya with naira in your account but struggling to pay for an Uber ride. You either carry stacks of cash or lose money to bad exchange rates. Hizo solves that.”
Launched in March 2024, Hizo lets users spend their home currency seamlessly in six African countries; Ghana, Kenya, Uganda, Tanzania, Zambia, and South Africa, without cash conversions. The app integrates with local banks and payment systems to create what Victor calls “a digital bridge between currencies.”
“There’s no more hunting for Kenyan shillings or Ghanaian cedis,” he says. “Hizo connects local banks and payment systems so users can transact as if they never left home.”
From Frustration to Innovation
The idea for Hizo was born from personal pain. During a 2023 trip to Rwanda, Hizo’s co-founder, Ik, found himself stranded financially. “He had naira in his account but couldn’t spend freely,” Victor recalls. “That frustration led to long brainstorming sessions in Lagos, and by early 2024, the idea had matured into a product.”
But like most startups, building Hizo wasn’t easy. “Finding reliable payment processors was one of our biggest hurdles,” Victor says. “Many providers needed proof of legitimacy before integrating. Some shut down mid-testing. Regulations nearly stalled our launch.”
Despite these challenges, Hizo secured essential approvals, including NDPR certification for data protection and licenses like SCCPC and PSSP sharing agreements. “Licensing took time,” Victor admits, “but by February 2025, we had stable providers in Ghana and Kenya, and that gave us the green light to expand.”
Building Blocks and Early Wins
In less than a year, Hizo’s numbers began to tell a promising story: over 2,500 transactions processed and ₦220 million in user deposits. The company operates on a fixed-fee model, which varies by country but ensures transparency.
“For every transaction, users know exactly how much they pay,” Victor explains. “There are no hidden fees, no currency scams, just clarity.”
Beyond individual users, Hizo’s growth complements Glyde, its sister product under Hizo Technology.
Meet Glyde: The B2B Fintech Powering Businesses
While Hizo focuses on travellers, Glyde serves businesses. “Glyde is a full payment processor,” Victor says. “It’s B2B and B2B2C. We help businesses receive payments from their customers and also disburse payments when needed.”
In other words, Glyde handles both sides of business transactions, pay-ins and payouts, through an efficient digital infrastructure. “If you have a storefront and need to collect money seamlessly, Glyde can do that,” he says proudly. “Last year alone, Glyde processed close to ₦90 billion in transactions.”
Glyde’s success is proof that solid technology and smart execution, not geography, drive fintech growth.
“We set out to prove a point, not just with our products but with where we’re building from.”
“When Hizo succeeds, it’ll inspire others to build locally. We’re already seeing curiosity from young founders in the South-East and South-South.”
“If we did it in Asaba, you can do it anywhere.”
The Cost and Advantage of Building from Asaba
When asked why he didn’t base operations in Lagos, Victor laughs. “Everyone thinks tech only thrives in Lagos,” he says. “But we wanted to prove that innovation isn’t location-bound.”
Setting up in Asaba, he admits, was partly symbolic, a statement against the Lagos-centric narrative. “There’s this belief that everything happens in Lagos and if you’re not there, nothing’s working for you,” he says. “We set out to prove a point, not just with our products but with where we’re building from.”
The gamble paid off. “Surprisingly, regulators were more approachable when they found out we were applying from Delta State,” Victor recalls. “They said, ‘Wow, you’re coming from Asaba? Nobody’s done this before.’ That alone made them more willing to support us.”
The supposed disadvantage of location became an advantage. “Because we weren’t one of the hundreds applying from Lagos or Abuja, our applications stood out,” he says. “The CBN was eager to encourage innovation from other regions.”
Operating costs also dropped significantly. “Rent, transportation, logistics are all lower here,” Victor notes. “We could channel more funds into development and hiring.”
Funding, Growth, and the Road Ahead
Like many startups, Hizo’s journey wasn’t without funding hurdles. “Certifications cost money,” Victor says. “If we had secured early funding, maybe we would have done some things differently. But the core things, the foundation, we still built them.”
Now, with traction across six countries, Hizo is preparing for its next phase. “We’re expanding to Rwanda and Malawi,” Victor reveals. “We’re also launching marketing campaigns in Ghana and raising a $300,000 pre-seed round to scale faster.”
Revenue generation, he adds, has been organic. “From day one, Hizo had a clear revenue model; transaction fees. For every transaction, we earn a fixed fee. It’s sustainable and transparent.”
Breaking Lagos Myths and Inspiring a Region
What started as a payment solution has evolved into a movement. “When Hizo succeeds, it’ll inspire others to build locally,” Victor says with conviction. “We’re already seeing curiosity from young founders in the South-East and South-South. People are realising that you can build globally competitive products from Asaba.”
He believes Hizo’s success could help transform Asaba into a regional tech hub. “If we do this right, we’ll show that the next wave of fintech innovation doesn’t have to come from Lagos,” he says.
But Victor is careful not to romanticise the journey. “I won’t call it a strategy,” he says. “What worked for us might not work for everyone. But I encourage founders to go off the beaten path. Sometimes, that’s where the opportunities are.”
A Message to Aspiring Founders
For founders building in underrepresented regions, Victor’s advice is simple yet profound: start where you are.
“Lagos isn’t the only ecosystem,” he says. “Build a solid foundation locally, test your ideas, understand regulations, and grow organically. If we did it in Asaba, you can do it anywhere.”
For him, fintech is more than moving money; it’s connecting people and economies. “Africa’s payment challenges are solvable,” he concludes. “With Hizo, we’re not just building a tool; we’re creating freedom for African travellers.”
And perhaps more importantly, they’re building belief that groundbreaking innovation can emerge from anywhere, even from the quiet streets of Asaba.
