Fundamo, a South Africa-based financial services technology provider backed by some of the country's largest companies, has agreed a $110m exit to credit card provider Visa.
Fundamo, a South Africa-based financial services technology provider backed by some of the country’s largest companies, has agreed a $110m exit to credit card provider Visa.
Local financial services group Sanlam, conglomerate Remgro as well as HBD Venture Capital (which stands for Here Be Dragons and now managed by PoweredbyVC) had backed Fundamo, which provides mobile financial services, including person-to-person payment, airtime top-up, bill payment and branchless banking services, to five million subscribers from unbanked and under-banked consumers in…
