TerraPay Secures $95 Million Loan to Boost Affordable Money Transfers Across Africa
- TerraPay has secured $95 million in debt financing to improve low-cost remittance transactions across Africa.
- The financing package includes $75 million from the International Finance Corporation (IFC) and a $20 million senior secured loan from British International Investment (BII).
- TerraPay aims to expand its operations, forge partnerships with global money transfer operators, and simplify the process of international remittances.
The debt financing secured by TerraPay is a significant boost for the company's mission to improve remittance transactions in Africa. With the support of the International Finance Corporation and British International Investment, TerraPay aims to expand its operations, forge partnerships, and simplify international remittances. This investment will not only benefit TerraPay but also empower individuals and small businesses in Africa through enhanced digital payment infrastructure.
