Zeepay, a finteh startup based in Accra, Ghana, has announced raising an undisclosed amount in its latest round of equity funding.
The funding round was spearheaded by prominent investors including Africa50, Oikocredit, Injaro Ghana Venture Capital Fund (IGVCF), and Verdant Capital Hybrid Fund, with additional investment from Investisseurs & Partenaires (I&P).
Founded in 2014 by Andrew Takyi-Appiah, Zeepay has established itself as a payment infrastructure company operating in over 20 countries worldwide.
The company specializes in enabling the instant settlement of remittances into mobile money wallets, catering to the needs of leading international money transfer organizations (IMTOs) in Africa and the Caribbean.
With a track record of settling more than 10 million remittance transactions valued at over $3 billion last year alone, Zeepay’s ambition is to drive financial inclusion and revolutionize cross-border payments, especially in low-income regions.
The fresh funding is earmarked for furthering the company’s mission to expand its cross-border remittances and mobile financial services business across Africa and the Caribbean.
Takyi-Appiah, Founder and CEO of Zeepay, expressed gratitude towards the company’s stakeholders for their support in finalizing this funding round. He emphasized the strategic importance of the raise, stating:
“The raise will greatly assist us in completing our ongoing expansion drive into the rest of Africa. Our short to medium plan is to expand our mobile money reach into a minimum of 10 countries within the next two years, leveraging remittances in partnership with MoneyGram, and we are delighted to see this vision come through.”
Zeepay’s latest funding round signifies a significant step towards achieving its goal of enhancing financial accessibility and transforming the landscape of cross-border payments in emerging markets.
