Collect Africa Announces Plans to Shutdown as Founders Pivot to Stablecoin Platform Autosend

Collect Africa, a Nigerian payment platform that allows African SMEs to receive payments on all sales channels, manage and monitor their businesses, announced its intention to close.

The company noted that on August 31, 2025, it will cease operations, because the team will now focus entirely on a new platform based on Stablecoin called Autospend.

In an email to users as seen by Condia, the company wrote,

“”After a lot of consideration, we made the decision difficult to finish the business ”. He also informed customers to withdraw all remaining funds from their accounts before closing.

According to Collect Africa, the co-founder Abraham Ojes, he noted that the closure marks a strategic change rather than an end. “”After four years of collection of collection and help of hundreds of merchants to manage payments, we have seen the size of the need for the world monetary movement, instant and affordable “,” He said.

This achievement led to Autospend, a new startup launched earlier in 2025, which allows companies and individuals to move money using stablecoins for payments, savings and spending management. Ojes describes him as “the next chapter of what we have built throughout”.

Collect Africa was founded in 2021 by Abraham Ojes and Wale Martins with a simple mission to help companies collect payments in a transparent manner with their customers throughout Africa.

The company launched with the conviction that customers should have the freedom to pay with the methods they are used to. The collection objective was to connect companies to local payment methods and improve acceptance rates.

Starting has built tools that allowed SMEs to accept payments via banking transfers, POS terminals, QR codes, payment links and direct flows from a single dashboard. He also sought to offer a better alternative to fragmented Nigeria payment systems for small businesses.

The platform has positioned itself as the best way for companies to accept recurring payments, offering higher payment experience via ready-to-use payment pages or customizable payment options that have easily integrated into existing online services.

Collect Africa focused on the minimization of failed transactions ensuring that most payments have succeeded in the first attempt, while its intelligent systems automatically reduced failed payments. By taking advantage of its technology, the company claimed to reduce the total cost of the collection, management and reconciliation of recurring payments up to 40%.

Built on open banking infrastructure, collect Africa linked to all Nigeria banks through reliable service providers, with plans to extend its services to Kenya and South Africa. The platform offered various features adapted to the needs of the company. Its invoicing solution has allowed customers to configure their payment details once, allowing companies to collect both unique and recurring payments as they have become due.

Subscription payments have given merchants the flexibility to create personalized billing schedules, accessible via secure payment links or directly from the collecting dashboard. To improve the management of cash flows, Collect Africa also provided companies with dedicated accounts, allowing faster collections, instant establishments and better access to commercial information. Thanks to the dashboard, companies could create an unlimited number of dedicated accounts for different units without the need for documents.

During its years of operation, Collect Africa has become a confidence payment solution for companies of different sizes, rationalize payment processes and improve the overall efficiency of financial management. Since the launch, the startup has dealt with more than $ 4 million in payments, recorded 5,000 companies and facilitated more than 50,000 transactions.

It has maintained monthly income of around $ 5,000 and recorded an average annual growth rate of 25%, according to early stage investor Ajim Capital. The company has also attracted the support of eminent investors.

Collect The closure of Africa reflects a broader trend of African fintechs, moving away from local payment tools to the infrastructure which supports cross -border financial access. The company’s pivot reflects the belief that stablecoin will become the future of the money movement in Africa.

With Autospendendes, the founders bet that Stablecoins will play a key role in the future of the world money movement on the continent.