Ghanaian fintech startup Zeepay has raised a US$940,000 seed funding round to enable it to continue to scale and roll out its services across the continent.
Zeepay is focused on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, bank accounts and digital tokens to international money transfer operators, payments, subscriptions, international airtime and refugee payments.
The startup has a footprint in more than 20 African markets, and in April 2020 was awarded an Electronic Money Issuer (EMI) license to operate as a mobile financial services company by the Bank of Ghana, the regulator of banking and financial services.
It has now raised a US$940,000 seed round from GOODsoil VC, an Africa-focused early-stage venture capital firm founded in 2017, which will enable Zeepay to continue to scale. The startup has a United Kingdom (UK) launch planned for 2021.
“We are delighted to have GOODsoil on board,” said Zeepay co-founder and managing director Andrew Takyi-Appiah. “We believe with their strong brokerage background, with leading Ghanaian brokerage firm Obsidian Achernar in their portfolio, we will be able to attract good pricing on foreign exchange for our wholesale clients.”