Pan-African Fintech Startup PawaPay Raises USD 9 Mn Seed Round

PawaPay, an African fintech company, has raised USD 9 Mn in seed funding to expand its mobile money payment solutions team, scale operations, and enter new markets. The round was led by 88mph, a UK-based company that invests in web and mobile-centric technology solutions, and MSA Capital, a Chinese venture capital firm. Other investors include African venture capital firm Kepple Ventures, South African Vunani Capital, and Zagadat Capital.

PawaPay enables mobile payments for local and international transactions/financial activities by integrating data from Africa’s major telcos into one mobile money API. Businesses and individuals can process payments, receive and transfer money, and pay bills via mobile.