Commerzbank's venture capital arm was among the participants in a series C equity and debt round for the African digital payment network.

MFS Africa, the UK-headquartered operator of a digital payment network, has secured $100m in series C financing from investors including CommerzVentures, a subsidiary of financial services firm Commerzbank.

AfricInvest, Goodwell Investments, Lun Partners Group and Allan Gray Ventures also participated in the round along with Equator Capital Partners’ ShoreCap III vehicle and Endeavor South Africa’s Endeavor Catalyst and Endeavor Harvest funds.

Founded in 2010, MFS operates an online payment platform which facilitates the quick and efficient transfer of funds for…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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