Grace Ashiru
Zeepay, a Ghanaian fintech startup, has successfully secured a round of equity funding to bolster its expansion across Africa and the Caribbean.
Zeepay has secured further funding from prominent pan-African investment groups including Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P. The specific amount and stage of this investment are yet to be disclosed. Notably, Zeepay had previously raised a US$7.9 million Series A capital round in 2021.
Operating in over 20 countries, the startup focuses on providing efficient solutions for reputable international money transfer organizations (IMTOs) to quickly settle remittances into mobile money wallets in Africa and the Caribbean.
In the past year, the company successfully processed over 10 million remittance transactions, amounting to a total of more than US$3 billion.
Since its establishment in 2014, Zeepay has been dedicated to developing digital infrastructure that connects various digital assets such as digital tokens, bank accounts, cards, ATMs, and mobile money wallets to international money transfer providers, payment services, international airtime, and refugee support.
We express our sincere gratitude to our valued stakeholders, encompassing our esteemed customers, shareholders, and dedicated staff, for their unwavering support in successfully concluding this round. The funds raised will significantly bolster our efforts to advance our expansion into other African markets. Over the next 2 years, our strategic roadmap aims to extend our mobile money services to a minimum of 10 countries, capitalizing on remittances through our partnership with MoneyGram. Andrew Takyi-Appiah, the visionary founder and CEO of Zeepay, expressed his delight in witnessing this vision come to fruition.
Zeepay will utilize the funds to elevate its offerings for IMTOs, remittance senders, and recipients, and expand its geographically
