Zeepay lands mix of equity and debt in I&P-led Series A

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Investisseurs & Parternaires (I&P) has led a Series A funding round for Zeepay, a Ghanaian financial technology firm. The business raised a total of $7.9 million in a mix of equity and debt. Paris-based I&P, ARK Holdings, and GoodSoil VC are investing equity in the round, while Absa Bank Ghana and the First National Bank of Ghana provided the debt.

Launched in 2016, Zeepay’s service allows customers to send remittances digitally to mobile wallets, bank accounts, and visa cards in 20 markets in Africa. The company, which has grown at a cumulative rate of 146% over the past 5 years, is in the process of expanding its offering to become an integrated omnichannel digital payment and value-added financial services provider.

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