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Ozow, a South African fintech company, has raised a USD 48 Mn Series B funding round to help it further develop its product offering and expand into new markets. The round was led by Tencent, and also included Endeavor Catalyst and Endeavor Harvest Fund.
The company enables millions of merchants and consumers with easy, fast and secure alternative payment solutions, including QR codes, point of sale, e-commerce, e-billing and peer-to-peer payments. Ozow works with major retailers, including MTN, Vodacom, the Shoprite Group, Takealot, and Uber.