Former CEO Of MTN Group Paul Edwards Secures Funding Round For His New Fintech Venture Called Vantage Pay
Former CEO Of MTN Group Paul Edwards Secures Funding Round For His New Fintech Venture Called Vantage Pay. Former CEO of MTN Group Paul Edwards has secured series A funding for his new fintech business venture called Vantage Pay. VantagePay has secured the money from Crossfin Holdings, which has bought a stake in the company for an undisclosed amount.
“Africa represents a huge market for mobile payments given the relatively high mobile phone penetration coupled with a relatively low penetration of financial services,” said Edwards in the statement. “VantagePay has incorporated the learnings of EMP and countries like China in developing a business model that enables cost-effective, deep penetration of payment services into African markets.”
Armed with global experience and local knowledge, Vantage Pay finds innovative solutions that address Africa’s unique payment challenges. The company is part of a global group that operates across multiple countries and continents, delivering world-class solutions for millions of users around the world. From custom payment solutions to fully integrated mobile applications, it delivers unique solutions that address Africa’s payment challenges.
Crossfin is on track through both the organic growth of its existing portfolio assets and its planned acquisition pipeline to be Africa’s leading Independent FinTech Group within the next 5 years. Crossfin backs innovative companies that focus on solving specific everyday pain points that are not adequately covered by existing products in the market. Crossfin invests in high growth and established cash generative businesses, offering investors a blended exposure to technology investments in Fintech.
The Crossfin group is uniquely positioned to unlock real value through the organic and acquisitive growth of its ecosystem and the continual introduction of additional products and services through its various platforms. Crossfin aims to influence technology across the value chain from point of processing to point of fulfillment either directly or through partnerships.
