Onafriq
OperatingFormerly MFS Africa
Cross-border, cross-currency, cross-network payments.
- FinTech
- Johannesburg, South Africa
- Series C
- Founded 2009
- onafriq.com ↗
- Total raised
- $215M
- disclosed
- Last round
- $100M
- Debt Financing
- Rounds
- 6
- since 2009
- Investors
- 17
- on record
- Employees
- 51-100
About Onafriq
MFS Africa is the best gateway to send money to mobile wallets in Africa. The company works in close partnership with mobile network operators and financial institutions to bring simple and relevant financial services to un- and under-banked customers. MFS Africa currently connects over 170 million mobile wallet customers in sub-Saharan Africa. The MFS Hub also connects money transfer operators, banks, and merchants to mobile wallets in Africa, allowing these partners to take advantage of the growing popularity of mobile wallets as safe, convenient, compliant, and cost effective delivery channel for international remittances.
Onafriq funding6 rounds
All 6 rounds →Onafriq has raised $215M across 6 disclosed rounds. The latest is a $100M Series C announced 14 Jun 2022, led by Admaius Capital Partners.
- $14MSeries BSeries B, $14M, $14M raised to date
- $1.2MVentureVenture, $1.2M, $15.2M raised to date
- $70MSeries CSeries C, $70M, $85.2M raised to date
- $30MDebt FinancingDebt Financing, $30M, $115M raised to date
- $100MSeries CSeries C, $100M, $215M raised to date
SLA Funding Index · grey is capital raised before each round · 1 undisclosed round not drawn
Who has invested in Onafriq
| Announced | Round | Lead · investors | Amount |
|---|---|---|---|
| 14 Jun 2022 | Onafriq Series C | Admaius Capital Partners +4 | $100M |
| 14 Jun 2022 | Onafriq Debt Financing | Symbiotics Group +1 | Not disclosed |
| 10 Nov 2021 | Onafriq Debt Financing | Norsad Finance +1 | $30M |
| 10 Nov 2021 | Onafriq Series C | AfricInvest +7 | $70M |
| 21 Jan 2020 | Onafriq Venture | FSD Africa | $1.2M |
| 30 Oct 2018 | Onafriq Series B | FSD Africa +3 | $14M |
Onafriq founders & team
Onafriq competitorssame sector · similar funding
- Chipper CashAccra, Ghana
- MomentCape Town, South Africa
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Frequently asked about Onafriq
- Where is Onafriq based and when was it founded?
- Onafriq is headquartered in Johannesburg, South Africa and was founded in 2009.
- Who is the CEO of Onafriq?
- Dare Okoudjou is Onafriq's CEO.
- How much funding has Onafriq raised?
- Onafriq has raised $215M across 6 disclosed rounds. Its latest, a $100M Series C, was announced on Jun 14, 2022.
- Who has invested in Onafriq?
- Backers include Vitruvian Partners, Admaius Capital Partners, AXA IM Alts, AfricInvest FIVE and 13 others.
- What sector is Onafriq in?
- Onafriq operates in FinTech.
