Interswitch an Africa-focused integrated electronic payments and commerce company has announced the extension of a US$10 million ‘ePayment Growth Fund’ (KSH 1 Billion) to East Africa. Interswitch facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations on a timely and consistent basis.
Speaking on the fund Interswitch East Africa (K) Chief Executive Paul Ndichu said “This fund is intended to serve as a catalyst for funding innovation and disruptive business concepts within the digital payment and commerce industry across Africa”.
Interswitch helps Africans conduct millions of transactions safely, securely and without hassle every day. It serves the African market to connect Africans to each other and enhance intra-African trade while promoting strong and sustainable economic growth across the continent.
The company is looking to collaborate with African entrepreneurs and startups that are developing innovative products that empower Africans to participate in emerging payment ecosystems.
Interswitch serves over 22 Banks and 3 Telcos in Kenya, managing a portfolio of over 1 million cards, an Agency Network and a suite of Bank ATM’s.
The fund is open to any African startup at growth stage that has come up with disruptive concepts within the digital commerce payments industry in Africa.