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Editorial | what does this mean? This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. MFS Africa invests in Cameroon's Maviance 2 hours ago Pan-African digital payments hub MFS Africa has made a $3 million investment in Cameroon-based fintech Maviance. Maviance operates a digital financial services platform, called Smobilpay, designed to help Cameroon's micro, small and medium-sized enterprises, as well as their customers, ditch cash. The platform serves over 500,000 u...

Fundraising News 02:55 pm Maviance PLC (www.smobilpay.cm), a Cameroon-based fintech, announced today that it has closed its Seed investment round of USD 3 million from the pan-African digital payments hub MFS Africa, which comes on board as a strategic investor. Maviance will use the new funding to increase its footprint in its Cameroon and to expand into other countries in the central African economic region (CEMAC).    Maviance chose MFS Africa as an investor to leverage on its pan-African infrastructure and its vast product offering and partnerships to deliver new digital financial ...

Share this article Maviance, a Cameroon-based company providing digital financial services like agency banking and bulk bill payments, has raised $3 million (€2.5 million) in equity financing. The investment is solely from MFS Africa, the cross-border fintech company connecting mobile money providers like MTN to banks like Ecobank across over 34 countries in Africa.  MFS Africa’s investment gives it an undisclosed minority stake in Maviance.  Maviance’s flagship product is Smobilpay, a platform that integrates payments solutions from banks, mobile money operators and telecoms operator...

(Business in Cameroon) - Today May 11, 2021, Cameroon-based fintech Maviance PLC, which owns digital payment platform Smobilpay, announced the closure of its $3 million (close to XAF1.6 billion) seed investment round from MFS Africa, a Pan-African fintech operating the largest digital payments hub on the African continent. Through this investment, MFS Africa has officially become a strategic investor in Maviance PLC. It is also helping fund the Cameroon-based fintech’s CEMAC expansion and local footprint extension.  “ The opportunities within central Africa are huge, and the demand has...