• FOUNDING YEAR: 2009
    LOCATION:
    South Africa
    REGION:
    Last Update:
    27 Jun, 2019

Description

FOCUS

PRODUCTS & SERVICES:
Provide money transfer and other payment services to low-income consumers
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Quona Capital, Lundin Foundation, MicroVest, Bluhaven Initiative, Kiva, IFC, Accion, 4Di, Sarona
EXISTING PARTNERSHIPS:
Airtel Money, Kiva

PEOPLE

FOUNDERS:
Brett Magrath, Brad Magrath
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
IFC, MasterCardFoundation, Accion, Omidyar Network, 4Di Capital, Quona Capital, Sarona Asset Management, AHL Venture Partners, Exponential Ventures

TRACTION

VALUATION / MARKET CAP:
$26.67 MM in 2009
NUMBER OF TRANSACTIONS:
2.4 MM
TRANSACTIONS VALUE:
$300 MM

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$20 Millions
DATE OF LAST FUNDING:
Feb 2017
FUNDING SERIES:
SERIES A
$4 Millions Closed: Mar 2012
SERIES B
$16 Million Closed: Feb 2017
LISTED:
NO

LATEST RESEARCH