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Home Non Banking Funds

African FinTech Firm Interswitch to Resume Venture Fund Afresh

The firm is all set to invest in the finance and startup environment after a hiatus

The Global Economics by The Global Economics
September 17, 2020
in Funds, Startups, Trending
Reading Time: 1 min read
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African FinTech Firm Interswitch to Resume Venture Fund Afresh

African FinTech Firm Interswitch to Resume Venture Fund Afresh

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After accelerating the digital payments in Africa for over a decade, #AfricanFinTech company #Interswitch has decided to encourage its corporate venture afresh, as discussed by CEO Mitchell Elegbe at Disrupt 2020.

Switching into high-volume business as well as personal finance, Interswitch will now be resuming investments in African countries, according to Elegbe. Some of its backers include #Helios Investment Partners and IFC.

In a statement, #Elegbe said that the business will gear up with acquisitions and investments again soon, all while leveraging its network and selective investments.

The firm acquired unicorn status last year after a $200 million equity investment by #VTech. One of the major milestones of the firm is its venture arm called #ePayment Growth Fund, launched in 2015.

Interswitch has come a long way in pioneering the digitization landscape of Nigeria, supplying rails for the country’s online banking system that serves over 200 million citizens. With time, the firm delved into supplying enterprise as well as private fee merchandise in over 23 nations in the continent.

In conclusion to the Disrupt 2020 session, Elegbe shared his perspective on the possibilities of doing business in Nigeria, the boom of startups, and VC investment in recent years.

Tags: AfricanFinTechElegbeePaymentHeliosInterswitchVTech
The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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