Wave raises $137 million to expand mobile money services across Africa
- Wave raised $137 million in a debt round led by Rand Merchant Bank to boost working capital.
- The funding will help expand Wave's mobile money operations across new and existing markets.
- Wave has grown to operate in eight markets across West Africa since its founding in 2018.
Wave's innovative approach to mobile money and its focus on affordability positions it well to disrupt traditional financial services in Africa. The recent funding round not only strengthens its operational capabilities but also highlights the growing interest in fintech solutions that cater to underserved populations. As Wave continues to expand, it will be crucial to monitor its impact on financial inclusion and competition within the sector.
