PNGME Sub-Saharan 15M Series Receives Major Investment from Octopus Ventures and Keneo ForTech

PNGME Sub-Saharan 15M Series Receives Major Investment from Octopus Ventures and Keneo ForTech

PNGME, the Sub-Saharan African mobile-first payments and financial services provider, has recently secured a 15M USD Series A funding round, led by Octopus Ventures and Keneo ForTech. This investment marks a major milestone for PNGME, and marks a major step forward in Sub-Saharan Africa’s fintech landscape.

PNGME, the Sub-Saharan African mobile-first payments and financial services provider, has recently secured a 15M USD Series A funding round, led by Octopus Ventures and Keneo ForTech. This investment marks a major milestone for PNGME, and marks a major step forward in Sub-Saharan Africa’s fintech landscape.

Overview of PNGME

PNGME is a mobile-first payments and financial services provider in Sub-Saharan Africa. Founded in 2018, PNGME aims to provide access to affordable and reliable financial services to the majority of Sub-Saharan African citizens who remain unbanked. PNGME’s mission is to bring financial inclusion to the unbanked by leveraging its mobile-first technology and products.

PNGME’s services include a mobile wallet, peer-to-peer payments, money transfers, and bill payments. PNGME’s products are designed for consumers and merchants. The mobile wallet allows users to store, send and receive money, as well as pay bills and make purchases. The peer-to-peer payments allow users to transfer money between wallets, and the money transfer service allows users to send money to any bank account in the country. The bill payments service enables users to pay for utilities, such as electricity and water, as well as other services, such as phone and internet bills.

PNGME has partnered with several major banks in Sub-Saharan Africa, including Standard Bank and Fidelity Bank, to provide its services. The company has also partnered with payment processors, such as Flutterwave and Paystack, to enable the use of its services. PNGME has also partnered with several merchants, including supermarkets and retailers, to enable their customers to make payments using PNGME’s services.

Details of the 15M USD Series A Investment

The 15M USD Series A investment was led by Octopus Ventures and Keneo ForTech. Octopus Ventures is a venture capital firm that focuses on early-stage investments in technology companies. Octopus Ventures has invested in a range of companies, including Deliveroo and Secret Escapes. Keneo ForTech is an African-focused venture capital firm that invests in technology companies. Keneo ForTech has invested in several companies, including Jobberman and Andela.

A. Octopus Ventures

Octopus Ventures is an early-stage venture capital firm that focuses on technology companies. Octopus Ventures has invested in a range of companies, including Deliveroo and Secret Escapes. Octopus Ventures has also invested in a number of fintech companies, such as Revolut and Starling Bank. Octopus Ventures has committed to investing 15M USD in PNGME’s Series A funding round.

B. Keneo ForTech

Keneo ForTech is an African-focused venture capital firm that invests in technology companies. Keneo ForTech has invested in several companies, including Jobberman and Andela. Keneo ForTech has also invested in a number of fintech companies, such as Flutterwave and Branch. Keneo ForTech has committed to investing an undisclosed amount in PNGME’s Series A funding round.

Impact of the Investment

The 15M USD Series A funding round marks a major milestone for PNGME. The investment will enable PNGME to expand its services to more countries in Sub-Saharan Africa, as well as develop new products and services. It will also enable PNGME to strengthen its partnerships with banks and merchants, as well as attract new users.

The investment will also have a major impact on the fintech landscape in Sub-Saharan Africa. The investment will enable more people in Sub-Saharan Africa to access affordable and reliable financial services, as well as give them more control over their finances. The investment will also help to spur innovation in the fintech space in Sub-Saharan Africa, as more companies will be encouraged to enter the market.

Conclusion

The 15M USD Series A funding round for PNGME marks a major milestone for the company and for Sub-Saharan Africa’s fintech landscape. The investment will enable PNGME to expand its services and products, as well as strengthen its partnerships with banks and merchants. It will also enable more people in Sub-Saharan Africa to access affordable and reliable financial services, and will help to spur innovation in the fintech space in the region.

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