Zeepay raises US$10 million in Series A.5 round

Zeepay, the leading cross-border payments company operating as a challenger mobile money company, has announced that it has raised US$10 million.

The raise was led by Symbiotics BV with US$9 million and supported by a Mauritius-based fund with US$1 million, totalling US$10 million.

Godfried Boakye, CFO, mentioned that the raise had become “mission-critical as we expand our service offering and African expansion and well within a manageable Loan to value ratio of 9 percent.

Kwabena Appenteng, Transaction Advisor at Verdant Capital, said: “We are delighted to see the close of this component of the round, and urge local financial institutions and pension funds to find their niche, to enable them to participate alongside international lenders in the future as we work to deepen the African fintech ecosystem.”

JLD & MB Legal Consultancy acted as legal counsel to Zeepay in connection with the funding.

We are delighted that this transaction has been realized and to have been a part of it.”

Zeepay is the fastest-growing FINTECH into Mobile Financial Services across Africa with Operations in Ghana and United Kingdom and terminating to 20 countries across Africa and with termination agreements in over 90 jurisdictions globally