Zeepay has closed a funding round of $200,000 to support the startup’s current expansion efforts in providing POS devices to help merchants make mobile money transactions.
This is what Mr. Appiah, CEO of Zeepay had to say about the round.
“We raised [the funding round] through an anonymous local Institutional Investor. The funds are actually being used towards our current integrations with some major corporate institutions. We are also using the same funds for integration with 3 remittance partners as well.
As mentioned, we are pretty excited about what’s ahead and look forward to launching officially to the Ghana by December. [This] would see us coming to market with a domestic transfer product, remittance to mobile wallets and mobile money merchants. We have also recently re-launched our website to be more user friendly.
We are currently also partnering with other stakeholders to develop payment ecosystems in farm communities nationwide. Our native app should be on Google Play by end of year.”
Zeepay, a 5-staff startup, is an aggregator for Mobile Financial Services and partners with Mobile Network Operators such as Airtel, and various payment service providers. This partnership’s aim is to develop a retail payment ecosystem for Mobile Money in Ghana, all in an effort to improve Financial Inclusion and meet UN sustainable development goals in Africa.
Zeepay is one of two Ghanaian startups which made an appearance at DEMO Africa this year. The competition served as a true launchpad for the startup to receive some visibility and gain investor interest across Africa.
On related eCommerce news, the Ghana eCommerce Expo is happening in Accra this month, and it brings together more than 30 eCommerce platforms in Ghana. This looks like a bright time for mobile payments, and eCommerce in Ghana as new non-telecommunications players show interest in a system that has been largely led by MTN, and later by other telecommunication operators.