Zeepay, the main cross-border funds firm working as a challenger cell cash firm, immediately proclaims a increase of US$10 million.
The medium-term debt increase, which varieties a part of its A.5 collection, involves help Zeepay in a bid to enhance its fast-growing remittance to pockets enterprise. The increase was led by Symbiotics BV with US$9 million and supported by a Mauritius-based fund with US$1 million totalling US$10 million.
In response to the Founder and Managing Director, Andrew Takyi-Appiah I, the increase was vital and comes on the time once we are planning to extend our annual turnover from US$1.5 billion circa 2021 to US$200 billion over the subsequent 5 years.
Godfried Boakye, CFO, talked about that the increase had develop into mission crucial as we broaden our service providing and African enlargement and effectively inside a manageable Mortgage to worth ratio of 9 p.c. This can assist increase help from native African banks like Ecobank, Constancy Financial institution, and Absa.
Kwabena Appenteng, Transaction Advisor at Verdant Capital, mentioned: “We’re delighted to see the shut of this element of the spherical and urge native monetary establishments and pension funds to search out their area of interest, to allow them to take part alongside worldwide lenders sooner or later as we work to deepen the African fintech ecosystem.”
JLD & MB Authorized Consultancy acted as authorized counsel to Zeepay in reference to the funding. Zoe P. Takyi — Appiah, a senior associate of the agency talked about, “that is one other notable milestone for Zeepay. Certainly, the corporate continues to interrupt boundaries and broaden its borders. We’re delighted that this transaction has been realized and to have been part of it.”
Zeepay is the fastest-growing FINTECH into Cell Monetary Providers throughout Africa with Operations in Ghana and United Kingdom and terminating to twenty international locations throughout Africa and with termination agreements in over 90 jurisdictions globally. We concentrate on Remittance termination into cell wallets and are fully community and associate agnostic.
Zeepay is a wholly-owned Ghanaian firm, regulated within the UK by Monetary Conduct Authority-FCA # 592538 and in Ghana by The Financial institution of Ghana- #00001 below the Cost Methods and Providers Act, 2019 (Act 987).
Zeepay helps Sustainable Growth Targets (SDG) 3 and is taken into account a Monetary Inclusion Firm positioned to enhance final mile entry. Go to myzeepay.com for extra data.