Ghanaian Fintech Zeepay secures $3 million investment to help drive growth. Zeepay, a company in Ghana that helps people send money and use mobile money services, has received a $3 million investment from Verdant Capital Hybrid Fund.
This is the fourth time Verdant has invested in Zeepay in a little over two years.
Zeepay Secures $3 Million Investment
Zeepay, a company that helps people send money using mobile phones, has received a $3 million investment from Verdant Capital Hybrid Fund. This is the fourth time Verdant has invested in Zeepay in a little over two years.
The ten-year-old Zeepay has raised more than $23 million since it started. With the new investment, Zeepay aims to strengthen its financial position to prepare for expected high growth in 2024.
What is Zeepay
Operating in Ghana, Zambia, Ivory Coast, Sierra Leone, Gambia, and Barbados, Zeepay is a mobile money operator that specializes in sending money to mobile wallets. It works with all networks and partners.
Zeepay has over 200 employees and offices across Africa, Europe, and the Caribbean. It was already present in 23 countries as of 2022.
Zeepay Is the Second-Highest Revenue Earner in Mobile Finance Services In 2022
Zeepay is the second-highest revenue earner in mobile finance services after MTN MoMo in 2022. It reached profitability early in its lifecycle and has remained profitable as it expands and diversifies its operations.
Zeepay’s Track Record and Growth Opportunities across Africa
Andrew Takyi-Appiah, Zeepay’s Managing Director, welcomed Verdant Capital Hybrid Fund as a new shareholder. Verdant is the fifth institutional shareholder to invest in Zeepay in less than three years.
Kwabena Appenteng, a Director at Verdant Capital, praised Zeepay’s track record and growth opportunities across Africa. He credited Zeepay’s success to its strong management team.
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