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MFS Africa
company
About
MFS Africa is a digital payment company that offers mobile financial solutions for senders, money users, and service providers.
- Johannesburg,NA - South Africa,South Africa
- 101 - 250
- http://mfsafrica.com
Details
- Last Funding Type
- Series C
- Last Funding Money Raised
- $100M
- Industries
- Financial Services,FinTech,Mobile Payments,Payments
- Founded date
- Jun 1, 2009
- Number Of Employee
- 101 - 250
- Operating Status
- Active
- Legal Name
- MFS Africa Limited
MFS Africa is the largest mobile money inter-operability hub in Africa, which connects mobile network operators across the continent through a single API. In addition to mobile remittance services, the MFS Africa API enables merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border digital payments services.
Funding Rounds
Number of Funding Rounds
Total Funding Amount
6
$217.20M
MFS Africa has raised a total of
$217.20M
in funding over 2 rounds. Their latest funding was raised on
Jun 14, 2022 from a Series C round.
| Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
|---|---|---|---|---|---|---|
| Jun 14, 2022 | Series C | $100M | 5 |
Admaius Capital Partners
|
— | Detail |
| Jun 14, 2022 | Debt Financing | — | 2 | — | — | Detail |
| Nov 10, 2021 | Series C | $70M | 10 |
LUN Partners Group
|
— | Detail |
| Nov 10, 2021 | Debt Financing | $30M | 2 |
Lendable
Norsad Finance
|
— | Detail |
| Oct 31, 2018 | Series B | $14M | 4 |
LUN Partners Group
|
— | Detail |
Investments
Number of Investments
Number of Lead Investments
6
2
MFS Africa has made 6 investments. Their most recent investment was on
Sep 28, 2022, when Numida raised $7.30M.
|
Date
Company Name
|
Round | Money Raised | Industry | Lead Investor |
|---|---|---|---|---|
|
Sep 28, 2022
Numida
|
Seed | $7.30M | Apps | — |
|
May 11, 2021
maviance
|
Seed | $3M | Insurance | Yes |
|
Apr 13, 2021
Numida
|
Seed | $2.30M | Apps | Yes |
|
May 28, 2020
Inclusivity Solutions
|
Series A | $1.30M | Emerging Markets | — |
|
Mar 3, 2020
|
Seed | $562.49K | Agriculture | — |
Investors
Number of Lead Investors
Number of Investors
8
18
MFS Africa is funded by 18 investors.
Admaius Capital Partners
and Goodwell Investments
are the most recent investors.
| Investor Name | Lead Investor | Funding Round |
|---|---|---|
|
Admaius Capital Partners
|
Yes | Series C |
|
|
Yes | Series C |
|
LUN Partners Group
|
Yes | Series C |
|
Lendable
|
Yes | Debt Financing |
|
Norsad Finance
|
Yes | Debt Financing |
|
|
— | Series C |
|
|
— | Series C |
|
|
— | Series C |
Vitruvian Partners
|
— | Series C |
Stanbic IBTC Bank
|
— | Debt Financing |
Employee Profiles
Number of Employee Profiles
3
MFS Africa has 3 current employee profiles, including
Executive Dare Okoudjou
Acquisition
MFS Africa has acquired 4 organizations. Their most recent acquisition was Sochitel on Jul 26, 2016. They acquired Sochitel for 0.
|
Date
Company Name
|
Industry | Acquisition Type | Price | |
|---|---|---|---|---|
|
Jul 26, 2016
Sochitel
|
Information Technology | acquisition | — | Detail |
|
Jun 30, 2020
Beyonic
|
FinTech | acquisition | — | Detail |
|
Oct 20, 2021
Baxi Box
|
Financial Services | acquisition | — | Detail |
|
Jun 6, 2022
Global Technology Partners
|
Payments | acquisition | $ 34M | Detail |
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