Following this announcement, the funding round will provide important financial support for Zeepay, as it allows the company to manage liquidity demands associated with real-time mobile money transactions and international remittances.
In addition, a key highlight of the deal is its shared-collateral structure, as it provides an arrangement that is set to see new and existing lenders pledge a common pool of assets. Furthermore, an independent monitoring agent will assess the collateral’s value daily, ensuring transparency, security, and maintaining asset integrity.
Zeepay represents a company that focuses on digital rails that connect digital assets such as mobile money wallets, cards, ATMs, bank accounts, and digital tokens to international money transfer operators, subscriptions, payments, international airtime, and refugee payments. At the same time, the startup prioritises the process of facilitating the instant settlement of remittances into money money wallets in Africa and the Caribbean in behalf of international money transfer organisations (IMTOs).
According to officials of the company, the new funding round was arranged by South Africa-based advisory firm Verdant IMAP, and it will provide Zeepay with a structure that simplifies investor participation, as the firm will continue to accelerate its development and expansion plans. In addition, it will also focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. Zeepay will focus on optimising the overall experience of its clients, alongside focusing on the rapid growth of the market.
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