Zeepay Secures $18M Debt Funding to Expand Digital Payment Infrastructure
Ghana-based fintech Zeepay has secured $18 million in senior secured debt funding, following a successful Series A equity raise of $7.9 million in 2021. This latest deal reflects investor confidence in the company's growth plans, as noted by Zeepay's founder and CEO, Andrew Takyi Appiah.
Zeepay's funding round attracted notable investors, including Craft Ventures, Tiger Global, and Base10 Partners. The company, which operates across 20+ countries, processed over 10 million remittance transactions worth over $3 billion in 2023 alone. It offers instant settlement for various services such as remittances, international airtime, subscriptions, and refugee payments.
Zeepay connects diverse payment methods like mobile money wallets, cards, ATMs, and bank accounts to global money transfer networks. The recent funding aims to scale Zeepay's digital payment infrastructure and meet real-time remittance liquidity demands. Notably, Zeepay's shared-collateral structure reduces risk, simplifies lender participation, and ensures transparency.
With the $18 million debt facility, Zeepay continues to expand its digital payment infrastructure. The company's success in processing billions in remittance transactions and connecting various payment methods demonstrates its potential in real-world financial ecosystems, particularly in emerging markets.
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