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African Startup Funding Tracker

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MFS Africa Raises USD 100 Mn Equity & Debt Funding
MFS Africa Raises USD 100 Mn Equity & Debt Funding

Pan-African digital payments network MFS Africa has raised USD 100 Mn in equity and debt, additional funding that takes its Series C round to USD 200 Mn. The new round was led by Admaius Capital Partners. The round also included AfricInvest FIVE, CommerzVentures, Vitruvian Partners, and AXA Investment Managers. Debt financing came from Stanbic IBTC Bank, a Lagos-based bank, and Symbiotic.

MFS Africa’s vision is to make borders matter less, which it enables through interoperability across payment schemes, borders, and currencies. The new funding will help MFS Africa continue its expansion plans across Africa and further integrate into the global digital payment ecosystem.