Wave Raises EUR 117 M to Accelerate Financial Inclusion Across the African Continent

Source: Ecofin Agency

Wave Mobile Money, Africa’s fastest-growing mobile money platform, has raised EUR 117 million in debt financing to advance its mission of making affordable, user-centric financial services accessible to everyone. The financing was led by Rand Merchant Bank (RMB) and a consortium of global development finance institutions, including British International Investment (BII), Finnfund and Norfund.

Wave currently operates in eight markets, primarily across West Africa. With this new investment, Wave will strengthen its working capital and accelerate growth in both existing and new markets, expanding access to mobile money and financial services for underserved communities.