Ozow Celebrates $48m Series B Funding Round

Ozow proudly announces their $48m Series B funding round, which was led by world-leading internet and technology company Tencent.

The investment round also includes Endeavor Catalyst and Endeavor Harvest Fund. Notably, Endeavor Catalyst’s investment committee approval was chaired by partner of Greylock, and co-founder and former executive chairman of LinkedIn, Reid Hoffman.

Ozow’s CEO and co-founder of Ozow, Thomas Pays, is excited about the partnerships that have been formed with their new investors: “It’s an honour to bring on board Tencent, Endeavor Catalyst and Endeavor Harvest Fund. This is a validation of our role in transforming the banking industry through the development of innovative, convenient, and more inclusive payment solutions for everyone.”

From the day Ozow started, they’ve been ambitious, and driven to develop and innovate. This desire is why they’ve been able to create solutions that drive financial inclusion. Their commitment to this cause has paid off. This series B funding round will enable them to provide millions more people with easy, fast, and secure alternative payment solutions.

The fact that Ozow can announce their series B is thanks to how busy they’ve been since our series A funding round held in June 2019.

Since then, Ozow has seen a 100% year-on-year growth of its business.

They’re continuing to scale rapidly, processing over $100m in transaction volumes monthly across a network of thousands of merchants. It’s user base also continues to see increased growth, with more than 120 000 users joining the platform each month.

Now with this funding round, Ozow will only keep growing.

This includes developing new products, and expanding into Africa. To help them achieve all of this, they’re also placing a strong focus on strategic investments that include mergers and acquisitions.

Ozow’s mission has always been to develop innovative payment solutions that enable millions of businesses and consumers to participate in their growing digital economy.

It’s why they’re excited about this next step in their journey.

Ozow’s Series B helps to fuel their rocket ship, as we continue to play a part in transforming the way people pay and get paid.