Ghanaian-Owned Fintech App Raises $32.8m To Build Connected Payments Wallet For Africans

Ghanaian-Owned Fintech App Raises $32.8m To Build Connected Payments Wallet For Africans

  • A Ghanaian-owned tech company, Dash, has raised over GHc231 million ($32.8 million) to build connected payments for Africans
  • Dash is a unified and accessible payments app that brings together mobile money and traditional banks to facilitate transactions for clients and businesses
  • Prince Boakye Boampong launched his tech brand in 2020 and currently operates in Kenya, Ghana, and Nigeria

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Dash, the unified and accessible payments app founded by Ghanaian entrepreneur Prince Boakye Boampong, has raised over GHc231 million ($32.8 million) in an oversubscribed seed round.

The seed funding is one of the largest seed rounds for an African technology startup.

Businesswire reports that the round was led by New York-based global private equity and venture capital firm Insight Venture Partners, with support from Global Founders Capital and 4DX Ventures, among others.

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Prince Boakye Boampong
Ghanaian-Owned Fintech App Raises $32.8m To Build Connected Payments Wallet For Africans. Photo credit: Businesswire/Techweez.com
Source: UGC

The $32.8 million funding will help build Dash's team, launch new features, and expand its presence across key markets in Africa.

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Establishing Dash

Prince Boakye Boampong founded Dash to create a unified payments app to boost efficiency and accessibility for the estimated 1.3 billion Africans currently transacting through digital payments.

Boampong was influenced by how most unbanked Kenyans sent money and paid bills with mobile money when he visited the country in 2014.

He officially launched Dash in 2020, creating a unique alternative payment network that brings together mobile money and traditional banks to facilitate transactions for consumers and businesses.

Dash has helped unify payment networks across over 200 telecommunications-led mobile wallets in Africa, popularly referred to as mobile money, none of which worked with each other until his company.

Dash’s 1 million+ customers have processed over $1 billion since its launch in 2020, showing exponential month-over-month growth.

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The company currently operates in Kenya, Ghana, and Nigeria.

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Meanwhile, YEN.com.gh previously reported that when Godwin Agyapong decided to venture into the technology industry, he was unemployed with little to no idea of how he would finance his business idea into reality.

But that didn't deter him from pursuing his goal to start a high-quality delivery and pickup system, which became known as LocQar.

At the time, it was just an idea inspired by the Amazon Locker and shot into reality following a tragedy that nearly claimed his life.

Source: YEN.com.gh

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