$100 Million In Debt And Equity Are Raised By TerraPay

TerraPay, a company that builds infrastructure for payments, has raised $100 million in equity and debt funding to help it grow around the world.

IFC led the round, and Prime Ventures, Partech Africa, and the US International Development Finance Corporation all helped.

The infrastructure of TerraPay helps banks, mobile wallets, money transfer companies, and merchants send and receive payments across borders.

The company will use the money to grow in Latin America, the Middle East, and North Africa. By 2024, its pay-out network will be stronger and reach 150 countries.

William Sonneborn from IFC says:

“Low-cost cross-border payments are critical to financial inclusion and global trade.

We are delighted to announce our continued support for TerraPay, as they deliver efficient payments instantly and securely, between individuals, businesses, and financial institutions, while also strengthening regulatory and compliance infrastructure.”