TerraPay, a London, UK-based payments infrastructure company, raised $100M in Series B funding.
The round, led by IFC, was supported by Prime Ventures, Partech Africa, U.S. International Development Finance Corporation (DFC) and a consortium of other investors.
The company intends to use the funds to further its growth plans, especially across the LATAM and MENA regions, strengthen its existing pay-out network to 150 countries by 2024, invest in the marketing and adoption of alternate payment methods for mobile wallets, and expand its regulatory and compliance infrastructure including key license applications across the world.
Led by Ambar Sur, Founder and CEO, TerraPay partners to banks, mobile wallets, money transfer operators, merchants, and financial institutions, creating an international financial ecosystem giving access to payments infrastructure that spans the globe.
Currently, TerraPay’s agile payments infrastructure and solutions platform offers business/merchant pay-outs, acquiring and issuing services, among others. The company has built a network of partners and customers, present in more than 108 receiving countries and 205 sending countries with 62 settlement currencies.
FinSMEs
04/04/2023