Reyts Fintech
Reyts Fintech is a Canadian-regulated fintech operating a peer-to-peer currency exchange platform for CAD-to-NGN swaps, serving immigrants and diaspora users in the Canadian-Nigerian corridor via a mobile app and WhatsApp-native flow.
- Company typePrivate
- Founded2020
- HeadquartersSaint Thomas, Canada
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Reyts Fintech does
Reyts Fintech Inc. is a Canadian-regulated, private peer-to-peer currency exchange platform focused exclusively on the Canadian-Nigerian diaspora corridor, enabling users to swap Canadian Dollars (CAD) and Nigerian Naira (NGN) through a matching engine that pairs buyers and sellers going in opposite currency directions. The company's technology stack layers a multi-currency wallet (holding CAD and NGN balances) with a WhatsApp-native flow (phone +1 226-580-7378) and native iOS/Android applications, allowing users to complete onboarding, biometric KYC, funding, swapping, and withdrawal without leaving WhatsApp. Integration partners include Interac for CAD funding, GTBank and Fidelity Bank for NGN funding, Veriff/VerifyMe/Persona/Mono for identity and bank-account verification, and Apaylo for payment processing; users can also set community-governed exchange rates within a ±5 band of the platform-advised rate.
Reyts Fintech firmographics
Firmographics- Name
- Reyts Fintech
- Legal name
- Reyts Fintech Inc
- Website
- https://reyts.com
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Reyts Fintech is a Canadian-regulated fintech operating a peer-to-peer currency exchange platform for CAD-to-NGN swaps, serving immigrants and diaspora users in the Canadian-Nigerian corridor via a mobile app and WhatsApp-native flow.
- Ownership category
- akta.pro rank
Reyts Fintech industry classification
Industry- Product category
- Peer-to-Peer Currency Exchange
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Functions Related To Depository Banking, Nec (6099), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF)
- akta.pro secondary industries
- Cross-Border & FX Payments Platforms (BPAMAFAK), Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)
Keywords
Where Reyts Fintech is headquartered
LocationHeadquarters
- HQ city
- Saint Thomas
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Reyts Fintech business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Transaction/Swap Fees: Reyts charges a small transaction fee per currency swap completed on the platform. The fee is transparent, shown upfront before confirmation, and is designed to be lower than competitors who embed fees in exchange rates. Fee scales down as platform volume grows.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Consumer P2P Swap - Standard Rate |
| Transaction based/ take rate | Pay-as-you-go | Merchant Zero Transaction Charge |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Reyts Fintech product offering
Product offeringCore offering
Reyts Fintech operates a peer-to-peer currency exchange platform that matches individual users going in opposite directions on the CAD↔NGN corridor, enabling direct swaps with instant settlement at community-determined rates. The platform is accessible through a WhatsApp-native messaging flow and native iOS/Android apps, with built-in KYC/biometric verification, multi-currency wallet holding, and integration into Canadian (Interac) and Nigerian (GTBank, Fidelity Bank) banking rails. The company monetizes via a transparent per-swap transaction fee that scales down as platform volume grows.
Product overview
Reyts Fintech offers a single unified peer-to-peer currency exchange platform with two access channels: a native mobile application (iOS and Android) and a WhatsApp-based interface. The platform centers on a multi-currency wallet that supports Canadian Dollars (CAD) and Nigerian Naira (NGN), enabling users to swap currencies at community-determined rates with instant settlement and lower fees compared to traditional exchange services.
Differentiator
Problem solved
Functional benefit
Products and services
- Reyts Mobile Application A peer-to-peer currency exchange mobile application available on Apple App Store and Google Play Store that enables individual users to swap Canadian Dollars (CAD) and Nigerian Naira (NGN) at community-determined rates with instant settlement and bank-grade identity verification.
- Reyts WhatsApp Flow A WhatsApp-based currency exchange interface that allows individual users to initiate and complete CAD-NGN swaps directly through WhatsApp messaging without downloading a separate app, accessible via phone number +1 226-580-7378.
- Reyts Wallet A multi-currency digital wallet embedded within the Reyts platform that holds CAD and NGN balances, allowing individual users to fund, swap, and withdraw currencies on their own schedule across the WhatsApp and mobile app channels.
Quantifiable outcome
- Save 25 NGN/CAD on average when swapping CAD
- +2 more outcomes
Companies that use Reyts Fintech
Customer profileNamed customers5 records
Segments1 record
Ideal customer profiles2 records
Reyts Fintech technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature5 records
Reyts Fintech partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and supporting.
- InteraccorePayment processing integration for CAD transfers within Canada. Users fund CAD wallets using Interac e-Transfer, with funds reflecting on Reyts quickly.
- GTBankcoreNigerian banking integration for NGN transfers. Users in Nigeria can fund their NGN wallet by sending funds to Reyts' secure GTBank account details.
- Fidelity BankcoreAdditional Nigerian banking integration for NGN wallet funding via Fidelity Bank transfers.
- VeriffcoreIdentity verification service provider for KYC/biometric processing during user registration, required for FINTRAC compliance.
- VerifyMecoreIdentity and document authenticity verification service for Nigerian identity verification during registration.
- PersonacoreIdentity verification platform used for collecting and verifying government-issued photo IDs and biometric data during sign-up process.
- MonocoreBanking information verification service for linking and verifying Canadian and Nigerian bank accounts without accessing login credentials.
- ApaylosupportingPayment processing and financial infrastructure integration for transaction handling.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
Reyts Fintech competitors and assessment
Company assessmentEmerging players
- Verto: Cross-border payments platform with strong Africa corridor presence. Comparable on emerging-market cross-border flows, though Verto is primarily B2B rather than consumer P2P like Reyts.
- Nala: Africa-focused remittance app enabling payments from the diaspora to recipients in multiple African countries. Comparable on diaspora-to-Africa corridor targeting with a mobile-first consumer experience.
Broad incumbents
- Wise: Global multi-currency account and cross-border payments platform with transparent FX. Comparable on multi-currency wallet and transparent FX positioning, though Wise operates across many corridors at much larger scale.
- Remitly: Public digital remittance company serving dozens of corridors including Nigeria. Comparable on consumer cross-border remittance to NGN, but at vastly greater scale and breadth than Reyts.
Direct peers
- Wave: Mobile money platform serving Senegal, Côte d'Ivoire, and other West African markets with strong P2P transfer and FX functionality. Comparable on African P2P money movement and mobile-first distribution.
- Grey (formerly Aboki Africa): Nigerian-founded fintech enabling Nigerians and the diaspora to send and receive money across borders, with CAD and NGN flows. Comparable consumer base, corridor focus, and WhatsApp-led community acquisition style.
- Bitsika: P2P payments and virtual dollar cards platform built for the African diaspora. Comparable on P2P cross-border transfer mechanics and consumer target, with similar wallet/identity stack.
- LemFi: Mobile-first cross-border payments app targeting diaspora corridors including Canada to Nigeria. Directly comparable on CAD↔NGN with a similar consumer/diaspora target market and multi-currency wallet structure.
- Sendwave: Mobile remittance app focused on African corridors including Nigeria from North America. Comparable target market (diaspora-to-Nigeria), mobile-first delivery, and fee-transparent positioning.
- Chipper Cash: Mobile P2P payments network across African countries and the diaspora. Comparable on cross-border P2P currency movement, multi-country African footprint, and consumer-led growth.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
Reyts Fintech social profiles
Digital presenceReyts Fintech compliance and trust
Trust signalCompliance2 records
Reyts Fintech financial estimates
Financial estimateRevenue estimate
Valuation estimate
Reyts Fintech leadership team
Management profileNumber of profiles
Profiles3 records
Reyts Fintech funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Reyts Fintech M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Reyts Fintech
What does Reyts Fintech do?
Reyts Fintech operates a peer-to-peer currency exchange platform that matches individual users going in opposite directions on the CAD↔NGN corridor, enabling direct swaps with instant settlement at community-determined rates. The platform is accessible through a WhatsApp-native messaging flow and native iOS/Android apps, with built-in KYC/biometric verification, multi-currency wallet holding, and integration into Canadian (Interac) and Nigerian (GTBank, Fidelity Bank) banking rails. The company monetizes via a transparent per-swap transaction fee that scales down as platform volume grows.
Is Reyts Fintech a public or private company?
Reyts Fintech is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Reyts Fintech founded?
Reyts Fintech was founded in 2020. It employs 11 to 50 people.
Where is Reyts Fintech based?
Reyts Fintech is headquartered in Saint Thomas, Canada, in the North America region.
How does Reyts Fintech make money?
One revenue line is on record: transaction/Swap Fees.
Who are Reyts Fintech's main competitors?
Emerging players on record are Verto and Nala. Broad incumbents are Wise and Remitly. Direct peers are Wave, Grey (formerly Aboki Africa), Bitsika, LemFi, Sendwave and Chipper Cash.
Does Reyts Fintech have an API?
No public API is recorded for Reyts Fintech.
What industry is Reyts Fintech in?
Reyts Fintech's product category is Peer-to-Peer Currency Exchange. Its primary akta.pro industry code is FSAGAKAF, Multi-Currency Accounts, Wallets & FX Management (Consumer/SME), with a secondary code of BPAMAFAK, Cross-Border & FX Payments Platforms. Its NAICS code is 522320 and its SIC code is 6099.