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Entrepreneurship

Wave raises $200 million the Largest serie A fund ever in Africa

wave fintech Valuing the independent mobile money provider at $1.7 billion, the landmark Series A round was led by Sequoia Heritage, Founders Fund, Stripe and Ribbit. While similar in functionality to PayPal, the Wave App does not require that customers have a bank account and instead runs a network of 'agents' (small local businesses) who use their on-hand cash to service Wave users.On the announcement, CEO and founder Drew Durbin commented: “From day one, we’ve been relentlessly focused on building mobile money that's easy-to-use and radically affordable. We've built something people love in Senegal, but that's only the beginning --...