Waza, a Y Combinator-backed payment and liquidity platform has raised $8 million in seed money.
The round includes $3 million in equity from Y Combinator, Byld Ventures, Norrsken Africa, Heirloom VC, Plug and Play Tech Center, and Olive Tree Capital.
Lagos- and New York-based Timon Capital provided $5 million in venture debt financing, money that Waza will use to pilot trade financing for its large enterprise clients.
Digging Deeper
The seed investment will fund these initiatives and expand into new markets beyond its current operations in Ghana and Nigeria.
The startup facilitates business payments and liquidity management across six continents for hundreds of clients, cutting across three categories with different needs.
What They’re Saying
“The Waza team has deep experience around cross-border flows and they are going after one of the bigger opportunities in frontier markets,” said Chris Muscarella, managing director of Timon Capital, on the investment.
Source: TechCrunch
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