Fintech Wave raises US$200m Series A funding, the largest in Africa

SENEGAL – Wave, the U.S. and Senegal-based mobile money provider, has announced the raise of a US$200 million Series A financing. This landmark investment shot the valuation of the independent mobile money provider to US$1.7 billion. The round which is the largest ever Series A round in Africa was led by Sequoia Heritage, a subsidiary of Sequoia; Founders Fund; US payment giant, Stripe; and Ribbit Capital. Other investors include existing investors Partech Africa and Sam Altman, the former CEO of Y Combinator and current CEO of OpenAI. The Wave app…

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