MFS Africa is a financial technology company offering mobile financial solutions across Africa by enabling digital inter-operability. MFS Africa’s services allow its partners’ customers and SMEs to send and receive money across borders, payments instruments and agents (mobile wallet, card, bank account, and over the counter).
A leading digital payments gateway
In portfolio since
2018 - 2021
Purpose and target market
The only currency that matters is access.” www.mfsafrica.com
Impact to date
320 M mobile money wallets connected by MFS Africa’s full-service digital network to enable cross-border payments for remittance companies, financial service providers, and global merchants
$1.8 billion MFS Africa’s cumulative transactional value (in USD)processed over FSDAi’s investment period
35+ African countries covered by MFS Africa’s platform
3 Partnership and Acquisitions MFS Africa acquired Baxi (Nigeria), Beyonic (Uganda) and closed a partnership with VISA
$23 million new capital (USD) invested into MFS Africa over the investment period.
Debt Investors: Lendable, Afrasia
Equity Investors: Allan Gray, Goodwell
FSD Africa contact