Alliance backs travel fintech Timon

Nigeria founded travel payments startup Timon has secured an undisclosed investment from Alliance, a crypto focused startup accelerator. The funding follows the company’s selection into Alliance’s latest cohort.

Addressing cross border payment challenges

Founded in 2024 by Tomi Ayorinde and Chizaram Ucheaga, Timon is building a payments platform for African travellers. The service lets users spend, save and transfer money across borders using local currencies and stablecoins. It aims to reduce the high fees, limited payment options and delays that often come with cross-border transactions. The company says it has grown to more than 100,000 users across 16 African countries. Nigeria is its largest market, followed by Kenya, Ghana and South Africa. Timon will use the investment to further develop its platform and expand its operations in Kenya. It also plans to introduce more travel related financial services. In addition, part of the funding will go towards strengthening the stablecoin infrastructure behind the platform.

Stablecoins take a larger role

Stablecoins now account for a large share of activity on Timon. According to the company, they make up nearly 70% of all funds deposited on the platform. That reflects growing interest in digital assets for cross-border payments, particularly among African travellers. This version reduces the number of long sentences while keeping the flow and avoiding the repetitive, AI style phrasing common in many startup funding announcements.