How Carpet City weaves global savings to expand across Africa with Verto

The Challenge

Carpet City, a prominent Kenyan importer, was accustomed to the intricacies of international trade, particularly when sourcing their exquisite carpets from suppliers in Turkey and Egypt. While their existing cross-border payment system (Swift) was functional, it came with significant drawbacks that directly impacted their bottom line and operational efficiency.

"Before Verto, Carpet City was using the Swift system that was efficient but we had issues around settlement time," explains Michael Mwangi, CEO of Carpet City. "The rates offered were too high and we were looking at options to lower our fees and get better rates."

The high transaction fees and unfavorable exchange rates were steadily eroding their profit margins. Beyond the cost, the unpredictable settlement times introduced an element of uncertainty into their supply chain, potentially delaying payments to critical international suppliers. Carpet City was keenly aware that optimizing these payment processes was crucial for both cost savings and maintaining strong supplier relationships.

The search for better rates and greater efficiency

Carpet City recognized the need for a more agile and cost-effective solution. Their search led them to Verto, primarily due to the compelling financial advantages it offered.

"Carpet City was attracted to Verto because the rates from Verto were favorable and better than the banks," Michael Mwangi states. Given their heavy involvement with imports and existing bank facilities for direct remittances to suppliers, a solution that could seamlessly integrate while offering superior rates was highly appealing.

How Verto streamlined Carpet City’s FX and supplier payments

Carpet City partnered with Verto, leveraging Verto's FX and Supplier Payments solutions. What Verto provided went beyond just better rates; it offered strategic capabilities they couldn't find elsewhere.

"The ability to collect in other markets across the continent has provided access to other markets and opened up new markets in Africa," Michael notes, highlighting a significant future growth opportunity. Furthermore, Verto brought a welcome simplification to their administrative load: "Less paper work to do payouts."

The onboarding process was seamless, a testament to Verto’s user-friendly approach. "Onboarding was seamless as all the documents required were available and the support has been readily available and questions have been readily answered," says Michael. This smooth transition meant Carpet City could quickly begin realizing the benefits of their new payment partner.

The results

Since adopting Verto, Carpet City has experienced significant improvements in its financial operations and strategic positioning.

Significant cost savings

"We have been able to save on fees, get better FX rates," confirms Michael Mwangi. This direct reduction in operational costs contributes positively to Carpet City's profitability.

Timely supplier payments

By streamlining the payment process, Carpet City can now ensure its suppliers in Turkey and Egypt receive their payments promptly, strengthening crucial business relationships.

Reduced administrative burden

The decrease in paperwork significantly lessened Carpet City's administrative workload, freeing up time and resources for their team.

Foundation for future growth

Perhaps most critically, Verto has instilled a new level of confidence in Carpet City's ambitious expansion plans. "We are working on expanding to new markets in Africa with confidence because Verto will solve the collection problem," Michael states, referring to their intent to adopt Verto's collections product for their 2026 African expansion.

Weaving a brighter future with Verto

Carpet City's journey with Verto is a clear example of how strategic financial technology can transform a business. By tackling the challenges of high costs and slow settlements in cross-border payments, Verto has not only delivered immediate savings and operational efficiencies but also empowered Carpet City with the confidence to pursue ambitious expansion into new African markets. As they look to leverage Verto for collections and even Mpesa payouts, Carpet City is truly weaving a path to a more efficient, cost-effective, and globally connected future.