• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Fintech

Interswitch Secure a Hundred Million Dollars from Tana Africa Capital and LeapFrog Investments to Accelerate e-Payment in Africa

Interswitch lead the African remittance landscape with innovation.

Paul Balo by Paul Balo
May 13, 2022
in Fintech
Share on FacebookShare on Twitter

.

Interswitch’s latest business involvement adds two titan investors to its directory board as Tana Africa Capital and LeapFrog Investments raised $110m to promote Interswitch remittance services across Africa. Interswitch has reportedly embarked on an expansion journey to have innovated its digital payment services with high-end technology.

Executive heads of either Interswitch, LeapFrog, or Tana Africa Capital confirmed their consortium posing as a strategic investment scheme in Africa FinTech sector. The Interswitch Group CEO, Mitchell Elegbe statements sent personal messages to LeapFrog Investments and Tana Africa Capital as Elegbe welcomes them on board his payment services pack of investors.

Elegbe highlighted the “evolution of FinTech in Nigeria and the broader sub-Saharan region has been driven by the need to solve challenges and barriers that exist within the traditional financial system. Interswitch was born from the need to develop solutions that match the unique needs of local customers and merchants.”

The African payment landscape is set to experience an advanced mentorship and management system from the likes of Tana Africa and LeapFrog Investments to support Africa’s finest FinTech platform, Interswitch to grow beyond the continental race. Interswitch’s investment from the African capitalist investors is projected to accelerate remittance innovation that will increase product sales as well as a heightened userbase.

“Interswitch has developed a strong position at the nexus of Nigeria’s payments ecosystem, underpinned by an offering which is primed for continued growth. The business’ evolution is a testament to management’s track record and tenacity. Alongside LeapFrog, we look forward to supporting Interswitch’s next chapter through continued product innovation and growth across the African continent,” Tana Africa Capital Managing Director and CEO, Mark Tindall said.

It is a no-brainer that Interswitch leads the African digital payment sector to have attracted several investors in contributing resourceful offerings to bolster Interswitch’s development growth. Recall Techbooky.africa reported Interswitch to have embraced integrating its payment system with biometric security technology. Interswitch’s LeapFrog and Tana Africa investment consortium seems to focus on the development of this project.

LeapFrog also took time to share a statement about committing to invest in Interswitch regardless of the FinTech pioneer role Interswitch trails in Africa and beyond.

“Interswitch, a pioneer in the African payments ecosystem, has been disrupting the cash economy, driving digital payments, and promoting equitable financial inclusion in Nigeria for two decades. This investment by LeapFrog affirms the formidable talent at Interswitch and how well-placed it is to seize the significant opportunity in Africa’s evolving digital payments landscape,” LeapFrog Investments, partner, head of Africa financial services, Karima Ola.

Interswitch has been existing in the African digital economy serving FinTech products for the inclined African population. Although Interswitch gained the limelight under Visa’s FinTech shadows. Interswitch’s current behemoth stance in the African digital sector is included the hundreds of million dollars Visa invested in Interswitch per 20% stake.

Three years ago when Interswitch secured the $200m from Visa — this was the last IPO report Interswitch published. Today’s Interswitch reports another hundred million dollars LeapFrog and Tana Africa offered in an investment storyline. Still, Interswitch needs to publish the latest fiscal report to ascertain if Interswitch remains on the shortlist of African unicorns.

It is worth noting that the LeapFrog and Tana Africa investment in Interswitch does not involve the activities of Interswitch’s subsidiaries such as QuickTella and Verve FinTech operations.

Related Posts:

  • lcimg_7c571157_2852_4ee8_9799_0284b94a5001
    Interswitch Secure a Hundred Million Dollars from…
  • Moniepoint
    Moniepoint Partners with Visa to Launch Contactless…
  • safaricom_ethiopia_world_bank
    The World Bank Group Offered Equity To Support…
  • png_20220718_215544_0000
    South Africa's Cassava Technologies Raises $50m From…
  • png_20220718_215544_0000
    Cassava Technologies Secures $50M Investment Deal…
  • png_20220718_215544_0000
    Cassava Technologies Secures $50M Investment Deal…
  • African-Startups
    African Startups That Have Raised Money This Year
  • Digital Payments Network MFS Africa Raises…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: africafintechinvestment
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3 May 11, 2025
    • Google’s Antitrust Showdown, AI vs. Search, and other Headlines May 11, 2025
    • Huawei Officially Launches HarmonyOS for PC May 10, 2025
    • Canada Nears Launch of Instant Payment Technology May 10, 2025
    • Threads Adds Dashboard for Post & Account Limits May 10, 2025
    • Many X Users are Experiencing Timeline Update Issues May 10, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (577) artificial intelligence (419) business (482) china (132) cryptocurrency (210) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (710) government (469) instagram (173) internet (467) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (836) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 1

    Tech Hype vs. Reality – When Big Tech Missed the Mark Pt. 3

    May 11, 2025
    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    Google’s Antitrust Showdown, AI vs. Search, and other Headlines

    May 11, 2025
    Huawei Officially Launches HarmonyOS for PC

    Huawei Officially Launches HarmonyOS for PC

    May 10, 2025
    Canada Nears Launch of Instant Payment Technology

    Canada Nears Launch of Instant Payment Technology

    May 10, 2025
    Advertisement Coming to Threads from Next Year

    Threads Adds Dashboard for Post & Account Limits

    May 10, 2025
    Many X Users are Experiencing Timeline Update Issues

    Many X Users are Experiencing Timeline Update Issues

    May 10, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok