Egoras to unveils ‘Cube Phone’ to let SMEs raise capital directly via ContisX Exchange

Egoras Technologies has announced plans to launch a new business-focused smartphone designed to connect small and medium-sized enterprises (SMEs) directly to capital market funding, in a move that could reshape how businesses access finance in Nigeria.

The device, known as the Cube Phone, will run on a proprietary operating system and integrate with ContisX, a securities exchange that has received approval-in-principle from the Securities and Exchange Commission and is expected to launch fully by September 2026.

The product positions the smartphone as a combined financial, operational and capital-raising platform for businesses. It integrates payments, artificial intelligence tools, enterprise management functions and market access features into a single device, requiring users to activate a ContisX-linked smart account to access embedded services.

At the centre of the system is direct connectivity to ContisX, which Egoras describes as a full-service exchange designed to operate alongside existing market infrastructure such as the Nigerian Exchange. The platform is intended to broaden participation in capital markets by enabling SMEs to raise funds and issue financial instruments directly from mobile devices.

The exchange’s approval-in-principle marks an early regulatory step in Nigeria’s capital market licensing process, allowing it to advance toward final compliance requirements ahead of launch. It also reflects growing regulatory openness to alternative market infrastructure aimed at deepening financial inclusion.

Egoras said the Cube Phone targets a long-standing constraint for small businesses in Nigeria: limited access to formal financing. By embedding capital-raising tools within a mobile device, the company is seeking to reduce reliance on intermediaries, listing costs and documentation-heavy processes typically associated with equity or debt markets.

A key feature is the ContisX Economic Instrument, a primary-market funding mechanism that allows SMEs to raise working capital by issuing instruments tied to projected economic output. The model is designed to provide faster access to funding compared with traditional capital market channels.

The company said the system continuously analyses business activity through payment flows and operational data generated on the device, using that information to assess creditworthiness and determine eligibility for larger funding pools over time.

“Every SME’s biggest problem is capital. Once a business owner sets up the device, a ContisX smart account is created automatically, allowing them to issue securities directly into the capital market.” Ugoji Harry, the chief executive officer of Egoras Technologies said.

Harry added that funding decisions would be driven by real-time performance data. “As the business grows and performs, the system tracks it and determines when it can move from small-ticket funding to larger capital access,” he said.

Beyond financing, the Cube Phone includes an AI-powered business suite designed to automate core enterprise functions. These include legal documentation, regulatory compliance, financial management, tax calculations, software development support and human resource administration.

Egoras said data processed on the device is encrypted using on-device private keys and stored on blockchain infrastructure, with the aim of limiting external access and enhancing data security.

The device will also operate under a zero-rated data arrangement with Airtel Nigeria, removing data costs for business activities conducted through the CubeOS platform, including payments, AI tools and enterprise applications.

If fully implemented, the integration of ContisX into a mobile device could introduce a parallel channel for capital formation in Nigeria, potentially reshaping parts of the financial services landscape at a time when policymakers and private sector players are seeking to deepen access to finance for small businesses.