How we built a multi-million dollar company without raising funding.

(Last Updated On: November 20, 2017)

The CEO of VoguePay, Michael Simeon was a guest on “building the future”,  a podcast that features successful founders who are building high-growth business out of Africa.

The host of the podcast, Dr. Dotun Olowoporoku is also the managing partner at Starta, a startup that is making it easier to build, discover and track high growth business opportunities in Africa. Dr. Dotun spent more than 70 minutes chatting with to our CEO on how VoguePay built a multi-million dollar business that never received any funding or grant.

According to our CEO, building a successful company without venture funding begins “when you build something that fits for a purpose.” It was an interesting 70 minutes conversation.

In it, you’ll learn:

  • How Michael’s sister influenced his decision to start Voguepay.  She owns an e-commerce platform in the UK and wanted a payment platform that could collect payment from Nigeria. She expected Michael to solve the problem. How did he decide to start a business from that?
  • How did Michael build his first business while he was still at the university? How successful was the business?
  • There were five co-founders who put money in the business every month from their personal pocket. How easy was it to bootstrap? And what does this have to do with Michael’s belief about collective effort?
  • Voguepay marketed to developers instead of merchants. What was the reason behind that?
  • Why did VoguePay ensure that all their strategies were self-sufficient? And how did they manage it?
  • How do you build a multi-million dollar company without raising funds? Michael has some tips
  • What is their biggest pain point?
  • And more

To listen to the podcast, here is the direct link to the interview or you can also listen on iTunes.  

You may also be interesting in checking out Michael’s interview with Nnmadi Oranye, the author of African First Book “DISRUPTING AFRICA”.

5 Lessons we learnt from our CEO’s interview with the author of Disrupting Africa on PowerFM 98.7

We invite you to learn more about VoguePay here and sign up a free account.


  1. i, really belief in voguepay when it;s come to the area of payment in africa they are doing a great job, save and secure, i praise the CEO for a good job he has done.

  2. Beautiful, we still have a long way to go with tech appreciation in Nigeria. Hopefully Vogue will be at the forefront of the Industry soon.

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