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Ozow has raised a $42 million Series B to provide more alternative payment solutions to its millions of merchants and consumers.
Ozow has raised a $42 million Series B round, led by Tencent, for pan-African expansion.
KEY POINTS
- EFT's share of South African e-commerce payments grew from 4% to 30% after Ozow's entry.
- Ozow now processes over $100 million monthly and gains over 140,000 new users per month.
- Ozow will support the Rapid Payment Programme to enable instant payments using mobile or email identifiers.
- The company plans to expand into Namibia, Ghana, Nigeria, and Kenya within six months.
COMPANIES
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