Onafriq

Building the African payments infrastructure for the next 100 years

Johannesburg, South Africa · Founded 2009 · $214.0M raised

Headquarters
Johannesburg
Employees
501–1000
Founded
2009
Business Model
B2B
Total Funding
$214.0M
Last Round
$4.5M Series BJun 2022
Rounds
4

About

Onafriq (formerly MFS Africa) is a pioneering payments company building the African payments infrastructure for the next 100 years, connecting businesses to the continent through its global payment network. The company connects over 500 million mobile money wallets, 200 million bank accounts, and 400,000 agents in Nigeria. Its omnichannel network enables domestic and cross-border disbursements and collections, card issuing and processing, agency banking, and treasury services. By linking mobile money operators, money transfer operators, banks, fintech companies, development organisations, and online and offline merchants, Onafriq creates a world of financial opportunities. With offices across Africa as well as in the UK, US, and China, the company's 'network of networks' is backed by top-notch regulation. In 2023, Onafriq was honoured as the Fintech of the Year at the African Banker Awards.

Summary

Onafriq is a Fintech company based in Johannesburg, South Africa, founded in 2009. It has raised $214.0M in total across 4 rounds, most recently a $4.5M Series B round in Jun 2022. Investors include LUN Partners Group, Admaius Capital Partners and Vitruvian Partners.

Tech & App Stack

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Funding History

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Extension RoundExtension RoundJun 2022
$100.0M

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Series B through Extension Round — per-round amounts, valuations, and who invested in each round.

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