African fintech giant Interswitch has launched a new $10 million initiative – the “ePayment Growth Fund” – to foster innovation and disruptive business models within the continent’s burgeoning e-payment landscape. The fund aims to collaborate with African entrepreneurs developing solutions that empower Africans to participate in the evolving payment ecosystems transforming African businesses.
Marking the fund’s first investment, Interswitch has committed $850,000 to Africa Courier Express (ACE.ng), a Nigerian e-commerce logistics and warehousing company. ACE.ng leverages cutting-edge technology to provide seamless tracking, delivery, and payment collection services for its clients.
This initial investment will empower ACE.ng to execute its West African expansion plans, with the potential for further funding. The partnership signifies Interswitch’s commitment to fostering growth within the African e-commerce space.
Founded in 2013, ACE.ng has established itself as a reliable provider of third-party logistics, tracking, and cash/electronic payment collection services for Nigerian retailers. With a presence in five Nigerian cities and a growing client base, ACE.ng is experiencing significant demand across various sectors.
