MFS Africa, one of many largest digital cost networks throughout the African area, yesterday introduced that it has raised a further $100 million price of funding in fairness and debt financing to facilitate its growth plans.
MFS Africa introduced the primary closure of its Series C funding spherical in November 2021. The newest capital elevate brings the full Series C funding to $200 million. Since November final 12 months, the digital cost firm has accomplished the acquisition of BAXI in Nigeria.
The fintech agency added that the funding will assist the corporate in exploring completely different progress alternatives in rising markets throughout Africa and Asia. In Asia, MFS Africa will broaden its presence via a three way partnership with LUN Partners to allow cross-border digital funds between China and Africa.
“With this US$100 million extension of our Series C fundraise we are thrilled to have the support of world-class investors Admaius, Vitruvian, and AXA IM Alts, and for the continued support of existing investors, on our journey to making borders matter less when it comes to payments. The strength of our business model is grounded on building a lasting digital infrastructure that unleashes and simplifies economic activities across the continent through any-to-any interoperability. Our multiple initiatives and solutions are providing access to Africans, at home and in the diaspora,” Dare Okoudjou, founder and CEO of MFS Africa, stated.
Africa’s Payment Landscape
Africa is dwelling to among the world’s fastest-growing economies. The demand for digital funds within the area has elevated sharply prior to now few years.
“As an Africa-focused private equity house investing in high-impact sectors that drive social and economic transformation, our investment in MFS Africa is exactly what our existing investors are looking for, namely well-managed, fast-growing, market leaders empowering financial connectivity and inclusion across the African continent,” Marlon Chigwende, Managing Partner of Admaius Capital Partners, commented.
MFS Africa, one of many largest digital cost networks throughout the African area, yesterday introduced that it has raised a further $100 million price of funding in fairness and debt financing to facilitate its growth plans.
MFS Africa introduced the primary closure of its Series C funding spherical in November 2021. The newest capital elevate brings the full Series C funding to $200 million. Since November final 12 months, the digital cost firm has accomplished the acquisition of BAXI in Nigeria.
The fintech agency added that the funding will assist the corporate in exploring completely different progress alternatives in rising markets throughout Africa and Asia. In Asia, MFS Africa will broaden its presence via a three way partnership with LUN Partners to allow cross-border digital funds between China and Africa.
“With this US$100 million extension of our Series C fundraise we are thrilled to have the support of world-class investors Admaius, Vitruvian, and AXA IM Alts, and for the continued support of existing investors, on our journey to making borders matter less when it comes to payments. The strength of our business model is grounded on building a lasting digital infrastructure that unleashes and simplifies economic activities across the continent through any-to-any interoperability. Our multiple initiatives and solutions are providing access to Africans, at home and in the diaspora,” Dare Okoudjou, founder and CEO of MFS Africa, stated.
Africa’s Payment Landscape
Africa is dwelling to among the world’s fastest-growing economies. The demand for digital funds within the area has elevated sharply prior to now few years.
“As an Africa-focused private equity house investing in high-impact sectors that drive social and economic transformation, our investment in MFS Africa is exactly what our existing investors are looking for, namely well-managed, fast-growing, market leaders empowering financial connectivity and inclusion across the African continent,” Marlon Chigwende, Managing Partner of Admaius Capital Partners, commented.
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