Chimoney Founder's Claims Contradicted by User Reviews as Startup Shuts Down

When Uchi Uchibeke announced the shutdown of Chimoney, his four-year-old cross-border payments startup, he framed it as a distribution problem rather than a product issue. However, this narrative clashes with hundreds of negative reviews from users who reported persistent issues long after the company began pivoting to a new AI agent wallet strategy.

The Google Play Store shows Chimoney with a 2.1 rating out of 5 based on 49 reviews, where the majority are 1-star ratings. While the Apple App Store has a slightly better 3.4 rating from only 5 users, the consistency of complaints across both platforms reveals a deeper problem.

Reviewers consistently reported KYC verification requests going unanswered for months, funds being stuck in the platform, and unresponsive customer support—even as the company publicly touted its new AI-powered features. One user described being unable to access partner funds after five days despite multiple attempts, while another warned businesses using Chimoney as a payment channel to stop due to ongoing issues.

Uchibeke acknowledged that distribution was the challenge but maintained the product worked. He told Technext that the company had repositioned around AI agent wallets in late 2025 and that a significant portion of their client base served African markets like Nigeria and Kenya, with developers building on Chimoney’s payout rails.

However, this contradicts the experiences reported by users who were still facing operational problems at the same time the company was promoting its new direction. The timing suggests that these issues persisted even as Chimoney publicly presented itself as innovative and forward-looking.