The Hong Kong-based organization is driving a gathering putting $ 48 million in the fourth round of financing.
Tencent Holdings Ltd. has put resources into a South African fintech supplier helping the Chinese web monster venture into the mainland’s most evolved economy.
The Hong Kong-based organization is driving a gathering putting $ 48 million in Ozow’s fourth round of financing that will help the seven-year-old startup extend in Africa and add workers, Ozow fellow benefactor and CEO Thomas said. Pays, in a meeting. He didn’t uncover the most recent examination of him.
“We began drawing in with Tencent in March and they comprehend the scale and opportunity there would be for an organization like our own,” Pays said. Ozow plans to utilize the assets to look for acquisitions and to begin administrations in Namibia, Ghana, Kenya and Nigeria, he said.
The Cape Town-based organization’s computerized installment passage, which interfaces customers straightforwardly to their financial balances, has reflected the development of online business in a country where just 20% of ledger holders have Mastercards. credit. Tencent’s venture gives it a stake in a startup that says it controls 70% of all moment outsider electronic installments made in the country.
Ozow is adding 140,000 clients and handling $ 100 million in exchanges every month, Pays said. The organization has 6,000,000 clients.
