OneDosh, a fintech startup focused on the African market, has successfully raised $3 million in a pre-seed funding round to build a global payments network powered by stablecoins. Headquartered in New York, the company aims to resolve the persistent challenges of slow and unreliable cross-border transactions. This investment provides early validation for its mission to connect wallets, cards, and countries through a single, programmable infrastructure.
Addressing Cross-Border Payment Friction
Founded by Jackson Ukuevo, Godwin Okoye, and Babatunde Osinowo, OneDosh was born from direct experience with the shortcomings of traditional finance. The founders encountered frequent issues like blocked cards, frozen accounts, and sluggish international transfers, which plague individuals and businesses globally. Their platform is designed as a direct solution to this friction, aiming to create a more fluid and dependable system for money movement.
A Stablecoin-Powered Solution
The company's core strategy involves leveraging stablecoins as the primary settlement layer for all transactions, which significantly reduces costs and processing times. Currently operational, the platform facilitates money transfers between the United States and Nigeria, two of the world's most active remittance corridors. This initial focus allows OneDosh to refine its model in a high-demand market before expanding its services to other regions.
OneDosh offers practical tools for its users, including stablecoin-backed virtual cards that are compatible with Apple Pay and Google Pay and accepted wherever Visa is supported. A key feature is the flexibility it provides to recipients, who can choose to receive funds as either stablecoins or local cash. This adaptability is crucial for navigating the varied financial on-ramps and off-ramps across different countries and user preferences.
Building Foundational Infrastructure
Beyond its consumer-facing application, OneDosh harbors a greater technical ambition to construct the fundamental rails for borderless finance. This involves developing programmable settlement layers, forging strategic liquidity partnerships, and building the necessary compliance architecture to operate across multiple jurisdictions. The goal is to create a foundational infrastructure that other services can potentially build upon in the future.
The founding team brings critical experience in payments and compliance from established firms like Plaid, ZeroHash, and Amazon, recognizing that technology alone cannot solve regulatory hurdles. OneDosh’s approach carefully combines asset-backed stablecoins with robust, bank-grade Know Your Customer (KYC) and anti-money-laundering (AML) protocols. This commitment to compliance is designed to ensure the platform can scale responsibly while meeting stringent enterprise-level standards.
Strategic Use of Capital and Market Opportunity
The newly acquired $3 million in capital is earmarked for strategic growth initiatives aimed at scaling the company's operations and reach. OneDosh plans to use the funds to expand into new payment corridors, bolster its liquidity pools to ensure seamless transactions, and recruit senior talent. These steps are essential for building a resilient and expansive network capable of handling increasing transaction volumes.
The rise of the global freelance economy and increasing cross-border commerce has exposed the limitations of legacy settlement systems. Stablecoins present a compelling solution, offering near-instantaneous settlement and predictable transaction pathways that modern economic activity demands. By integrating this technology with existing card and wallet infrastructure, OneDosh is positioned to significantly reduce fees and delays for millions of users worldwide.
This pre-seed funding provides OneDosh with the necessary runway to prove its innovative payment architecture and execute its ambitious vision. The startup's ultimate success will depend on its ability to navigate complex regulatory landscapes, secure vital local partnerships, and maintain deep liquidity. If successful, OneDosh will join a growing cohort of companies transforming stablecoins from a niche crypto asset into a fundamental tool for everyday global payments.