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MFS Africa

MFS Africa develops an interconnected payments platform that allows users to transfer and receive money via mobile wallets. Read more

Dare Okoudjou's photo - Founder & CEO of MFS Africa

Founder & CEO

Dare Okoudjou

CEO Approval Rating

96/100

Founded:

2009

Status:

PrivateIndependent Company

MFS AFRICA TOP COMPETITORS OR ALTERNATIVES

RANK

COMPANY

CEO

CEO RATING

EMPLOYEES

FUNDING

REVENUE

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Earthport is seen as one of MFS Africa's top competitors. Earthport was founded in 1997, and is headquartered in London, England. Like MFS Africa, Earthport also competes in the Fintech industry. Earthport generates $36.9M more revenue vs. MFS Africa.

Currencycloud is a top competitor of MFS Africa. Currencycloud was founded in 2012, and its headquarters is in London, England. Like MFS Africa, Currencycloud also competes in the Fintech field. Currencycloud has 160 more employees than MFS Africa.

Wise Ltd is MFS Africa's #3 rival. Wise Ltd was founded in London, England} in 2010. Like MFS Africa, Wise Ltd also works within the Fintech industry. Compared to MFS Africa, Wise Ltd generates $381.6M more revenue.

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Is WorldRemit a competitor of MFS Africa?

MFS Africa Acquisitions

COMPANY ACQUIRED
ACQUISITION DATE
AMOUNT
DESCRIPTION
Beyonic, Inc.

Jun 2020

Source »
undisclosed
Beyonic develops a SaaS-based that offers digital payment solutions for businesses.

These are all the companies that MFS Africa has acquired. MFS Africa's latest acquisition was Beyonic, Inc. in Jun 2020. Beyonic develops a SaaS-based that offers digital payment solutions for businesses.

MFS Africa Funding History

Since MFS Africa was founded in 2009, it has participated in 5 rounds of funding. In total MFS Africa has raised $15.2M. MFS Africa's last funding round was on Jan 2020 for a total of $1.2M

ROUND

FUNDING DATE

AMOUNT

INVESTORS

Equity
Jan 2020
$1.2M
Series B
Oct 2018
$9.5M
Series B
Apr 2018
$4.5M
Equity
Jun 2012
--
-
Equity
Sep 2009
--

Since MFS Africa was founded in 2009, it has participated in 5 rounds of funding. In total MFS Africa has raised $15.2M. MFS Africa's last funding round was on Jan 2020 for a total of $1.2M

MFS Africa Investments

COMPANY

DESCRIPTION

AMOUNT

INVESTMENT DATE

ROUND

EXIT DATE

Maviance is a provider of cross-border payments solutions for the financial sector.
$3M
May 10, 2021
Seed
-
$2.3M
Apr 12, 2021
Seed
-
Inclusivity Solutions is an online platform that provides digital insurance solutions for individuals and businesses.
$1.3M
May 26, 2020
Series A
-

These are all the companies that MFS Africa has invested in. MFS Africa's latest investment was Beyonic, Inc. in Jun 2020. Beyonic develops a SaaS-based that offers digital payment solutions for businesses.

MFS Africa News

April 14, 2021Disrupt Africa

Ugandan fintech startup Numida raises $2.3m seed round to expand, launch new products

Ugandan fintech startup Numida has raised a US$2.3 million seed funding round led by MFS Africa to he... See more »
April 13, 2021TechCrunch

MFS Africa leads $2.3M seed round in Ugandan fintech startup Numida

Small businesses in Africa need digital banking services including plenty of credit. Although these b... See more »
March 30, 2021Telecompaper

MFS Africa exceeds 320 mln mobile money wallets

(Telecompaper) MFS Africa has announced that it has reached over 320 million mobile money wallets...... See more »
March 9, 2021Finextra

MFS Africa strengthens London team

Leading pan-African fintech MFS Africa has made a raft of senior hires in its London office to drive ... See more »
December 9, 2020The Paypers

Paypal's Xoom, MFS Africa partner to offer mobile money transfers in Africa

PayPal's remittance service Xoom has partnered with MFS Africa, a South Africa-based fintech, to offe... See more »
September 22, 2020Electronic Payments International

inwi partners WorldRemit and MFS Africa to offer remittances in Morocco

inwi money, a unit of telecom company inwi and a provider of mobile money services, has rolled out an... See more »
September 2, 2020Telecompaper

MFS Africa inks partnership deal with PaySii

(Telecompaper) Global money transfer start-up PaySii has partnered with cross-border payments provide... See more »

Social Media

MFS Africa Headquarters

Independence Avenue 7th floor, GNATS Height

Accra, Greater Accra Region

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MFS Africa Summary

ABOUT

Overview

MFS Africa develops an interconnected payments platform that allows users to transfer and receive money via mobile wallets. MFS Africa was founded in 2009. MFS Africa's headquarters is located in Accra, Greater Accra Region, GH . It has raised 15.2M i...

CEO

MFS Africa's Founder & CEO, Dare Okoudjou, currently has an approval rating of 96%. MFS Africa's primary competitors are Earthport, Currencycloud & Wise Ltd.

Frequently Asked Questions about MFS Africa

  1. When was MFS Africa founded?

    MFS Africa was founded in 2009
  2. Who is MFS Africa's CEO?

    MFS Africa's CEO is Dare Okoudjou
  3. How much revenue does MFS Africa generate?

    MFS Africa generates $5M in revenue
  4. How much funding does MFS Africa have?

    MFS Africa has historically raised $15.2M in funding
  5. Where is MFS Africa's headquarters?

    MFS Africa's headquarters is in Accra Greater Accra Region, GH
  1. How many employees does MFS Africa have?

    MFS Africa has 70 employees
  2. What sector does MFS Africa operate in?

    MFS Africa is in Application Software, Fintech
  3. Who are MFS Africa's competitors?

    MFS Africa's top competitors are Earthport, Currencycloud, Wise Ltd
  4. Who has MFS Africa invested in?

    MFS Africa's has invested in companies such as Maviance, Numida, Inclusivity Solutions