South African fintech company Ozow has raised a US$48 million Series B funding round to help it further develop its product offering and expand into new markets. Ozow’s US$48 million Series B round is led by Tencent, and also includes Endeavor Catalyst and Endeavor Harvest Fund. The latest fundraising will support Ozow’s efforts to transform the banking ecosystem and create greater financial access for the underbanked. Since Ozow’s Series A funding round in June 2019, the company has seen 100 per cent year-on-year growth. Pays says the Series B funding round will enable the company’s growth plans and regional expansion in Africa.

Source: The North Africa Journal November 17, 2021 22:49 UTC