Likely to be new centers that will include processing centers and back offices Rwanda and South Africa. The company, which has so far grown through local investment, is looking for $ 10 million in new equity financing. Zeepay, recommended by the South African Bureau The green capital, focuses on investments from money companies and private investment companies. Zeepay is looking to complete the fundraising round by the end of June. The money will go to marketing and distribution, hiring and setting up centers. Some of them will also be used as capital paid to enter new markets such as The Gambia.
Zeepay is active in nine markets and intends to enter nine more new countries this year. They will include Burkina Faso, Gambia, Tanzania, Ethiopia and Madagascar, although physical presence will only be required in countries selected as centers. Zeepay has built a partnership Orange, MTN and local players that will allow it to work. Zeepay provides digital rails to connect wallets for mobile money, tokens, bank cards and ATMs. It started operations in Ghana’s largest market in 2016. Zeepay received an electronic money issuer’s license to operate as a mobile financial services company from the Bank of Ghana in April 2020. In September, it agreed to partner with Visa allowing diaspora Africans to direct money directly to debit and prepaid Visa cards in Ghana.