MFS Africa has received $100 million in equity and debt funding round to further speed its expansion efforts in Africa and around the world by adding additional talent to its teams.
MFS Africa’s most recent fundraising round was co-led by AfricInvest FIVE, LUN Partners Group, and Goodwell Investments.
New investors Allan Gray Ventures, CommerzVentures, Endeavor Harvest, and Endeavor Catalyst, as well as returning investor ShoreCap III, participated in the round.
Lendable and Norsad, among others, provided debt finance.
Additional regional offices will be opened in important African markets, as well as in China and the United States, according to the company.
“This fresh investment round further illustrates our dedication and the size of our aspirations,” MFS Africa founder and CEO Dare Okoudjou stated. This is also confirmation for our clients in Africa and beyond that, they made the right decision to join us in developing a network of networks that makes quick cross-border payments as simple as making a phone call.
The cash comes after the African digital payments network made a series of acquisitions and investments in fintech throughout the continent.
This includes its recently announced acquisition of Nigerian fintech Baxi, which it intends to turn into a significant node for regional payments into and out of the country.
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