Wave raises $137 million in debt to expand mobile money services across Africa
- Wave raised a $137 million debt round to enhance working capital and expand operations.
- The funding will help scale mobile money operations and broaden financial access.
- Rand Merchant Bank led the funding round alongside global development finance institutions.
Bendada.com - Jun 30, 2025
Wave raises $137 million to expand mobile money services across Africa
Wave, a leading African fintech startup, has raised $137 million in a debt round to enhance its work
Wave's innovative approach to mobile banking is commendable, especially in a region where financial inclusion is critical. The company's ability to attract significant investment reflects strong market confidence in its business model. However, as competition intensifies with telecom giants, it will be crucial for Wave to continuously innovate and maintain its competitive edge.
