MFS Africa, the continent’s largest digital payments network, bagged an extra $100 million in equity and debt funding led by Admaius Capital Partners. With the additional funding, the total Series C funding round stands at $200 million. Stanbic IBTC Bank will partner with MFS Africa to support growth of the recently acquired BAXI network of merchants and agents in Nigeria. The pan-African payments gateway raised $100 million in the first half of its Series C round in November 2021. FT Partners served as a financial and strategic advisor to MFS Africa in the Series C raise.

Source: The North Africa Journal June 16, 2022 05:04 UTC