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Digital finance provider, Maviance, has raised $3 million to extend its services across Central Africa. The Cameroon-based company provides local, cross-border, and mobile payment solutions.
Per recent reports, the $3 million investment was solely from MFS Africa, an African fintech company that connects mobile money systems to banks and other financial institutions.
According to its website, MFS Africa connects 200 million mobile money recipients, across major African networks.
Apparently, Maviance will use its funding to extend its flagship platform, Smobilpay, across Cameroon and into Gabon and Congo.
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Smobilpay is a payment solutions platform connected to a network of third-party collector companies such as banks.