MFS Africa

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

Highlights

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	AfricInvest Goodwell Investments 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 EzyAgric	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
Goodwell Investments	Yes	Series C
LUN Partners Group	Yes	Series C
Lendable	Yes	Debt Financing
Norsad Finance	Yes	Debt Financing
AfricInvest	—	Series C
AXA Investment Managers	—	Series C
CommerzVentures	—	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

Dare Okoudjou

Executive

Luke Kyohere

Executive

Rachel Balsham

Executive

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