The acquisition of Toronto-based payments infrastructure company Chimoney has closed, ending the startup’s independent operations and giving Nigerian founder Uchi Nick Uchibeke a new focus on securing AI agents.
Uchibeke said on October 5, 2026, that CapitalSage Vantage Limited, a subsidiary of CapitalSage Holdings, had completed its acquisition of Chi Technologies Inc., the Canadian company behind Chimoney. He said every investor had been paid and members of the team had received transaction proceeds.
In total, 31 people and firms received payments from the transaction, according to Uchibeke. The acquisition had originally been announced in June, weeks after Chimoney disclosed that it was winding down operations.
The June agreement provided for Chimoney to become CapitalSage’s first payment entity in Canada, subject to closing requirements including regulatory processes under Canada’s Retail Payment Activities Act.
Chimoney moves from shutdown to acquisition
Chimoney stopped accepting new transactions on April 30, 2026, after four years of operation. Uchibeke had said the company had built working payment infrastructure but had not solved distribution and liquidity challenges. The startup had raised less than $1 million over its lifetime, making it difficult to sustain a venture-scale fintech operating across multiple jurisdictions.
The platform supported business payments across 41 currencies, using infrastructure for bank transfers, mobile money, airtime, stablecoins and Interledger-based payments. Chimoney had also obtained regulatory approvals in Canada, including registration as a Money Services Business with FINTRAC and payment-service-provider registration under the Bank of Canada’s Retail Payment Activities Act.
Those assets remained relevant after the operating business was wound down. CapitalSage approached the company after the shutdown announcement and agreed to acquire Chi Technologies and its subsidiaries. Under the deal announced in June, existing investors were to be settled in full and the Chimoney team was to participate in the transaction proceeds.
The completed acquisition now gives CapitalSage control of Chimoney’s Canadian payments infrastructure. The company had said the transaction would expand its cross-border financial services capabilities and establish its first payment entity in Canada.
Uchibeke has described the completed transaction as the end of Chimoney’s current chapter. He is no longer positioning APort as a continuation of the acquired business. APort is a separate venture focused on authorization for autonomous AI agents.
Uchibeke’s new focus is authorization before an AI agent acts
APort is built around a specific security problem: an AI agent may have access to a tool without being authorized to perform every action that tool allows.
The system places an authorization check between an agent’s proposed tool call and the execution of that call. APort evaluates the request against a defined policy and can allow, deny or escalate the action before the underlying tool executes. Its Open Agent Passport specification is intended to associate an AI agent with its identity, permitted capabilities and limits.
According to APort’s technical documentation, the system also produces signed records for authorization decisions. The company says its enforcement path does not rely on model inference and reports a median authorization latency of 53 milliseconds in its published measurements.
