Zeepay, an Accra, Ghana-based fintech company, raised an undisclosed amount in equity funding.
The round was led by Africa50, Oikocredit, Injaro Ghana Venture Capital Fund (IGVCF) and Verdant Capital Hybrid Fund, with an investment from Investisseurs & Partenaires (I&P).
The company intends to use the funds for the expansion of its cross-border remittances and mobile financial services business across Africa and the Caribbean.
Led by Andrew Takyi-Appiah, Founder and CEO, Zeepay is a payment infrastructure company with a presence in more than 20 countries globally. Since its inception in 2014, it has specialised in facilitating the instant settlement of remittances into mobile money wallets in Africa and the Caribbean on behalf of leading international money transfer organizations (IMTOs).
Last year, the Company settled over 10 million remittance transactions worth over $3 Billion in value. Its vision is to promote financial inclusion and transform cross-border payments, particularly in low-income countries.
Commenting on the news, Andrew Takyi-Appiah said: “We would like to thank all our stakeholders, including our customers, shareholders, and staff, for all the support in bringing this round to a close. The raise will greatly assist us in completing our ongoing expansion drive into the rest of Africa. Our short to medium plan is to expand our mobile money reach into a minimum of 10 countries within the next two years, leveraging remittances in partnership with MoneyGram, and we are delighted to see this vision come through.”
FinSMEs
04/04/2024