TerraPay, a Dutch FinTech, has been acquired by a number of investors, including Prime Ventures, Partech Africa and management for an undisclosed amount.
Along with IFC, those same entities have invested $9.6 million into the company to aid with expansion, according to a release.
TerraPay, a company incubated by Comviva, the India-headquartered mobile solutions provider, provides Payment Infrastructure Services that help more people around the world to transfer money quickly, safely, and affordably.
The company does this by enabling payment service providers such as banks, mobile money operators, money transfer operators or other payment providers to instantly connect to each other at a low cost. Since its start in 2015, TerraPay has acquired more than 25 licenses to operate in over 60 countries in Africa, Asia, and Europe and is expanding globally.
Ambar Sur, Founder and Chief Executive Officer of TerraPay, said: “We believe in our mission to address financial inclusion by making real-time national, regional and global payments accessible to everyone. We are excited by this validation from our marquee investors, and look forward to growing rapidly and reaching most of the world’s underserved in the coming years.”