Zeepay
“Can a Ghana-licensed mobile-money issuer become the dominant remittance-to-wallet rail across Africa and the Caribbean?”
Founded2014
HQAccra, Ghana
FoundersAndrew Takyi-Appiah
Total raised$26M+ (equity + debt disclosed)
Latest roundVenture Debt, 2025
IndustryFintech / Cross-border payments
The story
Founded 2014 in Ghana as a mobile financial services / remittance-to-wallet company, Zeepay built digital rails connecting international money transfer operators to African mobile money wallets, cards, bank accounts and ATMs. The company evolved from inbound remittance termination into a broader Challenger Electronic Money Issuer (DEMI), adding micro-insurance (ZeeMicro), domestic transfers, and — after 2024 Bank of Ghana sandbox approval — outbound cross-border transfers. Heavy use of senior secured debt ($28M+ from Verdant) rather than equity reflects its float-financing business model.
Product timeline
2014
Founded in Accra by Andrew Takyi-Appiah as a mobile financial services company· founding
2020
Launched ZeeMicro micro-insurance product with Enterprise Life for remittance beneficiaries· insurance
2021
Raised $8M Series A led by Investisseurs & Partenaires to expand across Africa· funding
2022
Secured $10M debt facility from Verdant Capital to support remittance-to-wallet growth· lending
2024
Bank of Ghana approved outbound money transfers in regulatory sandbox· regulatory
2025
Raised $18M senior secured venture debt arranged by Verdant IMAP for working capital and float financing· funding
Regulated entities
2
regulatory licences held by Zeepay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
3 layers disclosed in Zeepay’s embedded-finance stack
Payments / PSP
Zeepay Payments (self-operated)Instntmny Remittance API (self-operated)
Banking / BaaS
in the full report
FX & payouts
in the full report
Accounting gap: none
2 more providers across 2 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.