Ghanaian fintech company Zeepay Ghana Ltd has announced an equity investment by pan-African investment firms Africa50, Oikocredit, Injaro, Verdant Capital Hybrid Fund, and I&P. The funds will support Zeepay’s expansion in Africa and the Caribbean.
Zeepay, founded in 2014, facilitates instant settlement of remittances into mobile money wallets in over 20 countries globally. Last year, the company settled over 10 million remittance transactions worth over $3 billion.
The company aims to promote financial inclusion and transform cross-border payments, particularly in low-income countries. This investment will help Zeepay expand its geographical footprint and enhance its services to international money transfer organizations and remittance senders and recipients.
Andrew Takyi-Appiah, Founder & CEO of Zeepay Ghana Ltd, expressed gratitude to stakeholders for their support in closing the investment round. He highlighted plans to expand into at least 10 more countries within the next 2 years, leveraging partnerships with MoneyGram.
Raza Hasnani, Managing Director of Africa50, emphasized Zeepay’s role in providing affordable, secure, and convenient money transfer solutions for the African diaspora.
Samuel Kibiri, Equity Officer for Africa at Oikocredit, reiterated the importance of remittances for financial inclusion and praised Zeepay’s contribution to overcoming challenges in the sector.
Sebastien Boyé, Co-CEO of I&P, expressed confidence in Zeepay’s success and commitment to supporting its growth.
Jerry Parkes, Managing Director of Injaro Investment Advisors Limited, highlighted Zeepay’s potential to become a market leader in the fintech space and praised its contribution to Ghana’s economic development.
Kwabena Appenteng, Director at Verdant Capital, commended Zeepay’s profitability and growth opportunities across the continent.
