Ghanaian fintech Zeepay has secured $18 million in financing in the form of senior secured debt to strengthen its working capital and support its expansion in Africa. The credit facility, arranged by Verdant IMAP, based in South Africa, will provide the company with essential working capital financing to manage liquidity in real time in mobile money and remittance transactions

The financing is structured around a pool of shared collateral, where multiple lenders have equal rights to the collateral assets, managed by an independent trustee and evaluated daily by an external supervisory officer. This approach, inspired by decentralized finance (DeFi) models, facilitates the integration of new investors without requiring complex renegotiations

Founded in 2014 by Andrew Takyi-Appiah, Zeepay connects mobile wallets, cards, ATMs, and bank accounts to global money transfer networks. Present in more than 20 countries, the company facilitates the instant settlement of remittances, international top-ups, subscriptions, and even payments for refugees

The financing obtained will allow Zeepay to strengthen its operational cash flow and support its geographic expansion, particularly in Africa and the Caribbean. The company plans to expand its services to at least 10 new countries over the next two years.