Ghanaian fintech firm Zeepay has secured $18 million in senior secured debt funding to strengthen its working capital and accelerate its expansion across Africa’s booming mobile money and cross-border payment markets. The financing, arranged by South Africa-based advisory firm Verdant IMAP, reflects rising investor confidence in Zeepay’s role as a critical bridge between global remittance networks and local mobile wallets.
The new funding will provide crucial float financing support, ensuring Zeepay can manage liquidity demands associated with real-time mobile money transactions and international remittances. As mobile money adoption continues to surge across the continent—often outpacing traditional banking—Zeepay’s services remain vital for millions who rely on fast, affordable digital financial solutions.
A key highlight of the deal is its innovative shared-collateral structure. Under this arrangement, new and existing lenders pledge a common pool of assets, held by a neutral security trustee. An independent monitoring agent assesses the collateral’s value daily, ensuring transparency and maintaining asset integrity. The pari-passu setup gives all lenders equal, first-priority claims, streamlining future investments by avoiding time-consuming negotiations each time new financiers come on board.
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“This structure simplifies investor participation as we execute our growth plans,” said Andrew Takyi Appiah, Zeepay’s founder and CEO. He expressed gratitude for the continued support of both new and longstanding partners, emphasizing that the deal will allow Zeepay to onboard additional investors easily while maintaining consistent terms across the board.
Zeepay’s operations currently span more than 20 countries, making it one of Africa’s most dynamic digital finance players. Its focus on linking remittances directly into mobile wallets has addressed a major gap in the continent’s financial ecosystem, providing reliable financial access to underserved communities. With mobile money transactions across Africa projected to exceed $1 trillion annually by 2026, the company’s growth strategy appears well-aligned with market trends.
Beyond fueling Zeepay’s expansion, the transaction highlights a broader shift in African fintech financing. Firms are increasingly turning to innovative debt instruments—like shared-collateral models—to scale operations without diluting equity. Analysts suggest this approach could become a blueprint for collaborative financing across Africa’s fragmented regulatory landscape, though its success hinges on strong risk management and asset valuation practices, especially in volatile markets.
As Zeepay strengthens its footprint, the $18 million funding round positions the company to play an even larger role in promoting financial inclusion, driving innovation, and navigating the complexities of Africa’s fast-evolving digital economy.
