Home Funding Alert Zeepay Raises $10 Mn in Series A

Zeepay Raises $10 Mn in Series A


Ghana-based Fintech firm Zeepay has secured $10 million in a series A funding round led by Symbiotics Group. This round was also participated by Verdant Capital. Zeepay’s fast-growing remittance to wallet market is supported by the medium-term debt raises, which form as part of its A. Designed to support the company’s explosive growth.

The debt funding is intended to be used to finance the company’s expansion.

Verdant Capital is an investment manager and investment bank specializing in the private capital markets that operate on a pan-African basis. Verdant Capital is the IMAP partner company for its region.

“The fund raise had become mission critical as we expand our service offering and African expansion,”

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“We’re thrilled to see this round come to an end, and we encourage local financial institutions and pension funds to find their niche, to enable them to partner with international lenders in the future as we work to deepen the African ecosystem,'” Kwabena Appenteng of Verdant Capital said.

Founded in 2014 by Andrew Takyi-Appiah, with the aim of processing multiple mobile phone payment transactions, and operates as an aggregator that brings transactions of all players together on one single platform.

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About Zeepay

Zeepay’s business is seeing multiple growth drivers, including a rise in the number of mobile wallets in recipient populations, as well as a rise in the number of wallet terminations as a percentage of global remittances. Zeepay is expanding its value-added services, including credit offering, as well as broadening and deepening its footprint in Africa. The company also plans to expand into the Caribbean and Latin American markets, according to a statement.