Injaro Investment Advisors, a Ghanaian private capital fund manager, has unveiled an investment in Zeepay Ghana Limited, a wholly Ghanaian-owned global mobile finance service (MFS) provider. The $2 million equity injection is part of Zeepay’s ongoing Series A.5 fundraising round and signifies the first investment from Injaro Ghana Venture Capital Fund (IGVCF). Injaro joins a consortium of international investors backing Zeepay, a pioneer in digital termination of remittances (DTR) and mobile money services operating across over 20 countries. Since its establishment in 2014, Zeepay has specialized in facilitating cross-border payments into mobile wallets, particularly in underserved markets. Injaro’s investment aims…
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With the rising emigration from Nigeria creating what has now become ‘japa’ trend, the need for cross-border payments in Nigeria has become more pronounced. From parents needing to send money for their children’s schooling abroad to Nigerian migrants abroad sending money to family and friends at home, the need keeps growing. Aside from that, the demand for efficient cross-border payment solutions in Nigeria has been on the rise, driven by the country’s expanding international trade, increasing diaspora remittances, and the growing number of Nigerian businesses with global operations. It is, therefore, not surprising that many companies have seen huge business…