SA’s Mission Mobile Secures USD 30 M from DNI To Expand Smartphone Financing

South African mobile technology company Mission Mobile has secured up to ZAR 500 M (USD 30.77 M) in growth capital from DN Invest (DNI) to expand its smartphone financing model through mobile network operator (MNO) retail outlets.

Founded in 2023 by brothers Tim Strike and Adam Strike and based in Johannesburg, South Africa, Mission Mobile helps MNOs extend smartphone and connectivity offerings to customers underserved by traditional credit models.

Its Beam platform assesses consumers using alternative data on how they earn and spend, while its DataBack Device proposition combines financed smartphones with connectivity benefits. The company runs onboarding, device delivery, payments, data fulfilment and customer service.

The funding, drawn from DNI’s resources and ring-fenced debt facilities, will support wider customer reach and new propositions for network operators.