Oasis Capital, a fund manager dedicated to SME finance, has invested USD 1 million in appsNmobile Solutions, a payment service provider in Ghana. The information was given this Wednesday, June 9 on the African Private Equity website.
This investment is expected to capitalize appsNmobile to position it as a dominant player in the payments space in Ghana and the sub-region. In its statement, the structure stressed that part of this capital will also allow the company to meet the regulatory capital requirements of the Central Bank of Ghana and provide other necessary logistics for the business.
“The company is determined to differentiate itself in the payments space by continuing to provide leading solutions and also to maintain its market leadership in innovation. This investment from Oasis Capital is a strong endorsement of appsNmobile, given the rigorous processes they have gone through, ”said Richard Bansah, CEO of appsNmobile Solutions.
Oasis Capital is an entity of Oasis Africa VC Fund (OAF), a US $ 50 million fund investing equity capital in growing SMEs in Ghana and Ivory Coast. The structure deploys capital on behalf of OAF investors through equity and quasi-equity investments in entrepreneurial and fast-growing companies.
Founded in February 2015, with software development as a core business, appsNmobile Solutions evolved into a Financial Technology (Fintech) company, in 2018 it started processing payments services.