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Investor Appetite For Nigerian Fintech Firms Grows

Fintech
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Thursday, May 11, 2017  03.33PM / Asoko Insight

Investor appetite for Nigerian financial technology (fintech) firms has grown significantly in recent years, with payments firms attracting a bulk of the interest. Interswitch
is the latest company to attract new funding.

Boston-based TA Associates is the latest investor to back Nigeria’s Interswitch, acquiring a minority stake in the fintech firm for an undisclosed amount at the beginning of March. TA Associates joins London-headquartered
Helios – the company’s main shareholder, having acquired a 52% stake in late 2010 for $96 million – along with the International Finance Corporation and Nigeria’s Adlevo Capital, who put up $20 million and $14 million respectively.

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