MFS Africa raises USD 200 mln in Series C extension funding round

Wednesday 15 June 2022 12:46 CET | News

Digital payments network MFS Africa has announced it raised another USD 100 million in equity and debt funding led by Admaius Capital Partners

The Series C extension funding round takes the total amount raised by the African company to USD 200 million. AZA IM Alts, Vitruvian Partners, AfricInvest FIVE, and Equator Capital Partners are among the new and old investors. 

The latest funds will be used to accelerate the company’s expansion across the African continent and its integration into the global digital payments’ ecosystem. Moreover, MFS Africa will continue its expansion into Asia through a joint venture with LUN Partners to enable cross-border digital payments in Africa and China.

Since the first close of its Series C fundraise in November 2021, the company has acquired BAXI in Nigeria, which later received additional licenses from the Central Bank of Nigeria.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: acquisition, expansion, funding, crowdfunding, cross-border payments, digital payments, online payments
Categories: Payments & Commerce
Companies: Central Bank of Nigeria, MFS Africa
Countries: Africa
This article is part of category

Payments & Commerce

Central Bank of Nigeria


MFS Africa

Discover all the Company news on Central Bank of Nigeria and other articles related to Central Bank of Nigeria in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events