Ghana’s Zeepay, a fintech startup, has raised a $940,000 seed investment round led by GOODsoil VC to enable it to scale and roll out its services across the continent. With the investment, they also plan to launch in the United Kingdom (UK) in 2021.
The startup focuses on digital rails to connect digital assets such as mobile money wallts, cards, ATMs, Bank Accounts and Digital tokens to International Money Transfer Operators, Payments, Subscriptions, International Airtime and Refugee payments.
GOODsoil was founded in 2017 by Charmaine Hayden, Orla Enright, Ashley Thompson-MacCarthy and Richard Mensah. It comprises of 50% female and 75% black partners, all young, serial entrepreneurs intent on becoming catalysts of economic growth for minority founders across Africa. The VC is an early stage venture capital firm focused on funding pre-seed and seed-stage technology companies.
“There are clear barriers to entry for tech startups to scale, and our vision is to level the playing field. We go by the dictum that talent is evenly distributed; opportunities are not,” explains Charmaine Hayden. The company is the perfect fit for entrepreneurs, markets and industries that may typically be overlooked by other VC firms, adds Orla Enright.
“We are delighted to have GOODsoil on board,” says Zeepay co-founder and managing director Andrew Takyi-Appiah. “We believe with their strong brokerage background, with leading Ghanaian brokerage firm Obsidian Achernar in their portfolio, we will be able to attract good pricing on Foreign Exchange for our wholesale clients.”