pawaPay Closes $9M Seed Funding

pawaPay

pawaPay, a London, United Kingdom-based payments company focused on Africa, raised $9m in seed funding.

The round was co-led by MSA and UK-based investment fund 88mph, with participation from Vunani Capital,  Kepple Ventures and Zagadat Capital.

The company intends to use the funds to scale its operational presence, find more talent to join the team, and expand into new markets on the continent.

Founded in 2020 by Nikolai Barnwell, CEO, pawaPay is focused on the mobile money infrastructure provided by telecommunications companies (telco) in Africa. Through its API, merchants can access more than 300 million customers in more than ten markets and enjoy payments.

With a single API, pawaPay’s customers can access all telco mobile money systems and thus receive and send payments to hundreds of millions of people. Customers are large Pan-Africa/global merchants and companies needing to make payments to African consumers’ accounts.

FinSMEs

26/08/2021