How much did Ozow raise?

Ozow raised $48 Million in a Series B round on November 17, 2021.

Who are the decision-makers at Ozow?

Fundz holds 1 contact at Ozow. Names and contact details are shown to Fundz members.

South African Payments Gateway Ozow Raises $48M Series B Led By Tencent

PRIVATENov 17, 2021

Amount Raised

$48 Million

Round Type

Series B

Cape TownFinancial ServicesMobileLending And InvestmentsPayments

Description

According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them make more than three transactions monthly.

Quick answer

Ozow raised $48 Million in a Series B round, dated November 17, 2021. Ozow is based in Cape Town, Western Cape, South Africa.

How much did Ozow raise?: Ozow raised $48 Million in a Series B round on November 17, 2021.
What does Ozow do?: Ozow is the future of payment as we know it.
Where is Ozow based and how big is it?: Ozow is based in Cape Town, Western Cape, South Africa.
Who are the decision-makers at Ozow?: Fundz holds 1 contact at Ozow. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Financial Services and Mobile around the same time

Companies in the same sectors as Ozow that raised within 45 days of this round, from Fundz verified event records.

Anchorage Digital raised $350M (Funding Round) on December 15, 2021.
Anchorage Digital raised $350M (Series D) on December 15, 2021.
C3 raised $3.6M (Seed) on November 22, 2021.
Raistone raised an undisclosed amount (Funding Round) on November 10, 2021.
Notabene raised $10M (Funding Round) on November 8, 2021.
CarpeDM raised an undisclosed amount (Funding Round) on December 23, 2021.

Who to call at Ozow, and when

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Company Information

Company

Ozow

Location

Cape Town, Western Cape, South Africa

About

Ozow is the future of payment as we know it. An oh-so (or Ozow) easy, automated and ultra-secure EFT solution that helps customers pay in just a few seconds, merchants can initiate Ozow payments through a variety of payment platforms, such as SMS, eCommerce, eBilling, QR Code and instore Point-of-Sale (POS). Through Ozow’s precise and secure system (that reduces the risk of charge-backs), merchants get real-time payments with instant transaction notifications and automated bank reconciliations. As no card is required for payment, their products are also more widely available, resulting in less abandoned carts, increased sales and more happy customers. Furthermore, merchants enjoy transaction fees as low as 1,5%, with no monthly costs, setup fees, or minimum charges, enabling them to save their money. As an added bonus, merchants processing up to R1m per month can use Ozow for free in their first year, no strings attached. Ozow is committed to financial inclusion on a continent where many people are disenfranchised by a lack of payments options. Furthermore, Ozow is committed to making it affordable for smaller businesses to take their trade to a wider audience, and to ensure that if traditional payment methods are unavailable, merchants don’t suffer. To date, Ozow has processed over a billion transactions, and has processed a combined value exceeding R5 billion. Ozow is bringing commerce to a wider audience, promoting financial inclusion and innovating for our customers. Paying with us is Ozow easy, Ozow fast and Ozow trusted!

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What this usually means

Timeline to next round

Series B companies typically work for 15-20 months before raising new capital

Growth expectations

Series B companies are expected to scale rapidly and expand market reach

Ozow raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

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