TechBookyBusiness
No Result
View All Result
Thursday, May 26, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Funding

Africa’s Payments Giant Interswitch Receives $110 Million Joint Investment From LeapFrog Investments And Tana Africa Capital To Scale Operations

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
May 12, 2022
in Funding, Investment
Share on FacebookShare on Twitter

Interswitch has received a joint investment of $110 million from Leapfrog Investments and Tana Africa Capital. The announcement came on Wednesday from the two private investors. The African payments company failed to confirm the amount it received and a spokesperson said that. “The exact terms of the transaction haven’t been disclosed. We can’t comment on that for now.” Both its new valuation and the amount received were not disclosed by Interswitch.

The new funding will be used to scale its operations and digital payment services across Africa. In a statement, the company’s CEO Mitchell Elegbe said that Interswitch was “excited to welcome LeapFrog and Tana on board, as we continue our work to advance the future of the African payments landscape.”

The company’s last known funding round was three years ago when it received $200 million for a 20 percent stake from Visa. Its last known valuation is $1 billion. The latest funding round, therefore, comes after these.

The company is one of the continent’s biggest payments companies and plays significant roles in powering the online banking system in its home country Nigeria and in Africa.

As part of the deal Leapfrog Investments and Tana Africa Capital will be acquiring shares from existing shareholders. These investors plan to work with other investors to support Interswitch’s pan-African strategy and help the payments company to attain its goals of acquiring new customers and building new products to increase financial inclusion in Africa.

In a statement, LeapFrog Investments partner and head of Africa financial services, Karima Ola said that “Interswitch, a pioneer in the African payments ecosystem, has been disrupting the cash economy, driving digital payments and promoting equitable financial inclusion in Nigeria for two decades. This investment by LeapFrog affirms the formidable talent at Interswitch and how well-placed it is to seize the significant opportunity in Africa’s evolving digital payments landscape.”

Total
2
Shares
Share 2
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Uganda's Super App Safeboda Receives First Investment From Google's Africa Investment Fund
    Uganda's Super App Safeboda Receives First Investment From…
  • Nigeria’s OPay Raises $400m At A Valuation Of $2 Billion In Softbank-led Round
    Nigeria’s OPay Raises $400m At A Valuation Of $2 Billion In…
  • Formerly Known As PlentyWaka, Treepz Raises A Total Of $2.8 Million In Its Seed Round To Fuel Expansion Into East Africa
    Formerly Known As PlentyWaka, Treepz Raises A Total Of $2.8…
  • Know Your Unicorns: Everything About Africa’s Most Valued Startups
    Know Your Unicorns: Everything About Africa’s Most Valued…
  • South Africa’s Digital Bank, Tyme Bank Raises $109 Million From Investors
    South Africa’s Digital Bank, Tyme Bank Raises $109 Million…
  • Chipper Cash Raises $150 Million In FTX-led Extension Round At A $2 Billion Valuation
    Chipper Cash Raises $150 Million In FTX-led Extension Round…
  • Flutterwave Now Valued At $1b After Raising $170m From Investors
    Flutterwave Now Valued At $1b After Raising $170m From…
  • TLcom Capital, An Africa-focused VC Firm Is Raising $150 Million For Its Second Fund Targeted At Early And Late Stage Investments
    TLcom Capital, An Africa-focused VC Firm Is Raising $150…
Tags: FundingInterswitchInvestmentLeapfrogTana Africa
Previous Post

Apple Loses The Title Of World’s Most Valuable Company

Next Post

Disney Reports Better-than-expected Earnings, The Company Is Still Experiencing Covid-induced Challenges In Asia

Next Post
Disney Reports Better-than-expected Earnings, The Company Is Still Experiencing Covid-induced Challenges In Asia

Disney Reports Better-than-expected Earnings, The Company Is Still Experiencing Covid-induced Challenges In Asia

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Russia Will Start Using Its Digital Rouble With Real Customers And Real Transactions From April 2023 In A Pilot Project
  • Esaal, An Egyptian Health And Wellness Platform Gets $1.7 Million To Scale Operations Across the MENA region
  • Could Biometric Technology Be The Answer To Digital Payments Security Concerns?
  • South Africa’s Edtech Startup FoondaMate Secures $2 Million In Seed Funding
  • US Cybersecurity Firm Semperis Gets $200 Million In Funding

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china company crypto cryptocurrency e-commerce E-Naira earnings earnings season elon musk facebook fintech Funding gadget google government india Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock Stocks tech tesla twitter Ukraine whatsapp

Calendar

May 2022
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  
« Apr    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Russia Will Start Using Its Digital Rouble With Real Customers And Real Transactions From April 2023 In A Pilot Project
  • Esaal, An Egyptian Health And Wellness Platform Gets $1.7 Million To Scale Operations Across the MENA region
  • Could Biometric Technology Be The Answer To Digital Payments Security Concerns?
  • South Africa’s Edtech Startup FoondaMate Secures $2 Million In Seed Funding
  • US Cybersecurity Firm Semperis Gets $200 Million In Funding
  • Zoom Issues Better-than-expected First Quarter Earnings And Strong Guidance

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$29,771.000.53%
  • ethereumEthereum(ETH)$1,962.95-1.00%
  • tetherTether(USDT)$1.00-0.05%
  • binancecoinBNB(BNB)$328.570.08%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • rippleXRP(XRP)$0.408042-0.45%
  • Binance USDBinance USD(BUSD)$1.00-0.31%
  • cardanoCardano(ADA)$0.52-0.69%
  • SolanaSolana(SOL)$48.59-1.93%
  • dogecoinDogecoin(DOGE)$0.0840000.79%
  • polkadotPolkadot(DOT)$9.97-1.92%
  • AvalancheAvalanche(AVAX)$27.60-4.71%
  • Shiba InuShiba Inu(SHIB)$0.000012-0.88%
  • matic-networkPolygon(MATIC)$0.65-1.77%
  • TerraTerra(LUNA)$0.00018713.47%
Posting....