The money will be used to grow Zeepay's business in the Caribbean and Africa.

Zeepay is a rapidly expanding payment infrastructure provider with operations in over 20 nations worldwide. Since its founding in 2014, Zeepay has focused on helping reputable international money transfer companies (IMTOs) send money instantly into mobile money wallets throughout Africa and the Caribbean. Over 10 million remittance transactions totaling over $3 billion were settled by the company last year.

The company's goal is to revolutionize cross-border payments and advance financial inclusion, especially in low-income nations. With the help of this equity investment, Zeepay will be able to better serve IMTOs, remittance senders and recipients, and a wider geographic area.

"We would like to thank all of our stakeholders, including our customers, shareholders, and staff, for all the support in bringing this round to a close," said Andrew Takyi-Appiah, the founder and CEO of Zeepay Ghana Ltd. We will be able to finish our current growth campaign into the remainder of Africa with much help from the funding. Our short- to medium-term goal is to use remittances in collaboration with MoneyGram to extend our mobile money reach into at least 10 countries over the course of the next two years, and we are thrilled to see this goal realized.

"Africa50 is thrilled to be collaborating with Zeepay to uphold its pioneering position in the digital payments infrastructure sector both inside and outside of Africa. Particularly in the current economic climate, remittance inflows of foreign currency constitute the lifeblood of many African countries with substantial populations of diaspora residents. For the hardworking African diaspora to help their loved ones, Zeepay offers a local, economical, safe, and practical money transfer alternative, according to Raza Hasnani, Managing Director and Head of Infrastructure Investments at Africa50.

"Oikocredit is excited to work with Zeepay as we expand the influential fintechs in our worldwide portfolio. For many households in Zeepay's operating nations, remittances are crucial to financial inclusion, and the company's digital wallets assist in addressing issues with cost, convenience, speed, safety, and transparency for both fund senders and recipients. According to Oikocredit's Equity Officer for Africa, Samuel Kibiri, "We are happy to partner with a fast-growing African business led by a capable team and look forward to supporting its growth."

"I&P's additional investment in Zeepay shows our belief in the company's potential and success. We are pleased that over the past two years, our initial investment has produced remarkable financial and social results in collaboration with a very competent promotion and management team. Sebastien Boyé, Co-CEO of I&P, stated, "We are thrilled to have added new like-minded investors, and we are still fully committed to helping Zeepay achieve its goal of becoming a leading pan-African mobile financial services company that improves the lives of millions of underserved users across Africa and the Caribbean."

The creative and forward-thinking young Ghanaian entrepreneur Andrew Takyi-Appiah leads the Zeepay team, with which the Injaro team is honored to collaborate. We are eager to collaborate in order to realize the challenging objective of building a prosperous global company based in Ghana and a dominant player in the fintech industry. Financing Zeepay with Ghanaian capital is particularly satisfying since it guarantees that the investment's returns will be reinvested in the community, so starting a positive feedback loop that promotes economic growth. Jerry Parkes, Managing Director of Injaro Investment Advisors Limited, stated, "We believe that this investment represents an important first step in building linkages between Ghana's pension funds and exceptional local businesses, which are important drivers of Ghana's economic growth."

"Zeepay offers investors like Verdant an attractive combination of hard currency earnings through its remittance-to-the-wallet business and growth opportunities across the continent," stated Kwabena Appenteng, Director at Verdant Capital. Zeepay's early profitability compared to other fintechs and continued profitability despite expanding and diversifying its revenue base and footprint are testaments to the management team's strength.