“We have been supporting TerraPay since 2020, as the company accelerated its growth facilitating remittances across emerging markets. We continue to believe in the importance of increasing digital payments globally and are excited to work with British International Investment furthering support to TerraPay to expand this mandate.” - Suresh Samuel, Managing Director - Head of Fintech Investments at Lendable
Remittance costs in sub-Saharan Africa are the highest in the world. Which reduces capital flow into the continent. One company looking to address this issue is TerraPay, a global cross-border payments processor. It’s aiming to increase the availability of lower-cost, efficient, accessible and reliable remittances. We’ve committed $20 million to TerraPay to support an increased volume of remittance transactions into Africa, build financial resilience, and enhance financial inclusion. Our funding will prioritise key African corridors, with high volumes expected in Kenya, Ghana, Egypt, Uganda, Tanzania, Cameroon, Mali, Benin, Cote d’Ivoire, Senegal and Mozambique. Christopher Chijiutomi, Ndaba Mpofu, John Kelting, Stephen Priestley, Seema Dhanani, CFA, Kwabena Asante-Poku Jnr, CFA, Thomas Girod, Abhishek Kulshrestha, FRM, Alex Manolopoulos, Joshua Bell, Alma Agustí Strid, Charles Hare, Wessel V., 'Banji Jackson-Oke, Varun Sharma, Daniel Neale, Katharine Tengtio, Matthew North