Zeepay pronounces Sequence A.5 increase of USD10 million
Zeepay, a cross-border funds firm working as a challenger cellular cash firm has introduced a increase of USD 10 million.
The medium-term debt increase, which types a part of its A.5 collection, involves assist Zeepay in a bid to enhance its fast-growing remittance to pockets enterprise. The increase was led by Symbiotics BV with USD 9 million and supported by a Mauritius-based fund with USD 1M totaling USD 10 Million.
In response to the Founder and Managing Director, Andrew Takyi-Appiah I, the increase was needed and comes on the time once we are planning to extend our annual turnover from USD 1.5 billion circa 2021 to USD 200 billion over the subsequent 5 years.
Godfried Boakye, CFO, talked about that the increase had grow to be mission vital as we increase our service providing and African enlargement and nicely inside a manageable Mortgage to worth ratio of 9%. It will assist increase assist from native African Banks the likes of Ecobank, Constancy Financial institution and Absa.
Kwabena Appenteng, Transaction Advisor at Verdant Capital, stated ‘we’re delighted to see the shut of this element of the spherical, and urge native monetary establishments and pension funds to seek 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’.