logo
logo

South African Payments Gateway Ozow Raises $48M Series B Led By Tencent

South African Payments Gateway Ozow Raises $48M Series B Led By Tencent

11/17/21, 9:04 AM
Money raised
$48 million
Round Type
series b
According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them make more than three transactions monthly.

Company Info

Company
Ozow
Additional Info
The company allows consumers to access their internet banking platform when they make transactions online. The platform, which caters to more than 47 million bank account holders, typically works this way. The company also works with distributors and payment service providers and resellers of its product. Founder and CEO Thomas Pays started Ozow in 2014 to drive financial inclusion through open banking. Ozow is one such player. Ozow is free for individual users.