Zeepay Ghana Limited. The transaction underscores investor confidence in the company’s
growth strategy and financial fundamentals. The funding will be used for working capital,
including float financing.
Verdant IMAP has structured and implemented a new security sharing arrangement to
facilitate future participation by additional senior secured lenders.
The security sharing is pursuant to a security sharing agreement and common terms
agreement, with the new lenders in this USD 18 million raise and existing international
lenders acceding on the same basis. The structure benefits from an external security trustee
and daily measurement of collateral by an external monitoring agent. New financiers going
forward will be granted access to the existing shared collateral pool on a pari-passu basis,
benefitting from the same first-lien pledge and robust enforcement framework. This flexible
structure positions Zeepay to scale its operations with continued access to institutional debt,
supported by a secure and transparent collateral package.
Founder and CEO of Zeepay, Andrew Takyi Appiah said: “I am grateful for the support of the
new investors and ongoing support our existing partners. The new structure, will allow for
simple and transparent onboarding of new investors as required, as we implement our
growth strategy.”
Verdant IMAP acted as financial advisor to the Zeepay and arranger for the financing
package.
About Zeepay:
Founded in 2014, Zeepay continues to dominate in the area of mobile financial services,
providing digital solutions in international remittance and mobile money. The company has
operations in over 25 countries, as well as mobile money licenses in 6 markets. This
affords the users the benefit of an ecosystem of reduce transaction costs and improved
access to financial services for those excluded from the financial system. Overall, Zeepay’s
digital infrastructure enables millions of users to significantly reduce transaction costs for
remittance and mobile money services, thereby directly increasing their incomes, and
providing better access to financial services across the Sub Sahara Africa region.
About Verdant:
Verdant IMAP is a leading investment bank and investment manager operating on a Pan-
African basis and specialising in private capital markets. Verdant IMAP is the manager of the
Verdant Capital Hybrid Fund. The Verdant Capital Hybrid Fund is investing mezzanine
capital into inclusive financial institutions on a pan-African basis. www.verdant-cap.com
Media Enquiries:
Verdant Capital:
Orient Mahonisi,
T: +27 10 140 3700
E: orient.mahonisi@verdant-cap.com
No comments:
Post a Comment