The $2 million ticket into the Guinean fintech is modest, but it signals growing development-finance appetite for the unglamorous plumbing that connects global money-senders to mobile wallets and cash agents on the continent
Adding fuel to the fire, regulators were reportedly incensed by Paystack’s public launch event, “An Evening with Paystack,” which one CBN insider described as “a slap in the face of the regulator.”
The newest funding round - confirmed to Launch Base Africa by Verdant IMAP, the investment firm that structured and arranged the transaction - marks a significant milestone for the fintech.
"Growth at all costs will not win the day in this business cycle. Unit economics, product-market fit and clear paths to profitability are the keys to survival."
Each selected company will receive up to $225,000 in non-dilutive grant funding, as well as technical assistance and commercial support from a network of partners.
The $2 million ticket into the Guinean fintech is modest, but it signals growing development-finance appetite for the unglamorous plumbing that connects global money-senders to mobile wallets and cash agents on the continent
