Africa: MFS Africa Raises Additional Equity and Debt Capital to Take Its Series C to $200m

14 June 2022
TechCrunch (San Francisco)
By Tage Kene-Okafor

Pan-African digital payments network, MFS Africa, has raised $100 million in equity and debt, additional funding that takes its Series C round to $200 million. African investment manager Admaius Capital Partners led the new round.

Investors from its first Series C round like AfricInvest FIVE and CommerzVentures doubled down while the fintech also received capital from new investors: Vitruvian Partners and AXA Investment Managers. Debt financing came from Stanbic IBTC Bank, a Lagos-based bank, and Symbiotic.

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