Chimoney has been acquired, the company’s founder confirmed this month.
Founded in 2020 by Uchi Uchibeke, Toronto’s Chimoney built a passport and payment infrastructure for AI agents and humans.
Originally focused on cross-border payments, the Canadian Fintech Startup-to-Watch pivoted in late 2025 to address the AI economy, providing licensed wallets, W3C digital identity, and policy controls for autonomous agents and Users.
The firm was formally registered as a Payment Service Provider under Canada’s Retail Payments Activities Act, placing it under the supervision of the Bank of Canada, and participated in both the Google Canada Startups Accelerator Canada program and the Techstars program.
However, the Canadian upstart—which had raised less than $1 million since launching—ran out of operating capital in 2026.
“I spent too much of my time building and not enough time making sure people knew what we built,” Uchibeke lamented online in a May X post.
With flat revenues and no clear path to capital, Uchibeke “had to make a call.”
The company stopped processing transactions but, shy of dirt on the grave, Chimoney was ultimately acquired by CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings.
The all-cash acquisition saw every investor repaid in full, with regular operations once again underway at Chimoney—though Uchibeke will no longer be a part of the company following a six-month transition period, according to a recent report from TechCabal.
“I am now building APort, a separate company focused on pre-action authorization for AI agents that has already created the Open Agent Passport,” the Nigerian-born entrepreneur stated. “I built Chimoney so other businesses could move money through software; I am building APort so businesses can decide how much authority to give the software that acts for them.”
CapitalSage, which was founded in Nigeria in 2014, now has a foothold in Canada’s payments market.
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