African payments company Interswitch has secured a USD 110 Mn joint investment from LeapFrog Investments and Tana Africa Capital to scale its digital payment services across the continent. Alongside existing investors, LeapFrog and Tana plan to work with management to continue to drive Interswitch’s pan-African strategy, which includes acquiring new customers and building new products to support a financial inclusion strategy.
Interswitch provides much of the rails for Nigeria’s online banking system that serves Africa’s largest economy and population. The company offers a number of personal and business finance products, including its Verve payment cards and Quickteller payment app.
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