Waza Emerges from Stealth with $8M Seed Round

Waza has secured $8 million in funding, comprising a $3 million seed equity round and $5 million in debt financing.

• Platform Overview: Waza, a payment and liquidity platform for businesses in emerging markets, aims to simplify global supplier payments for African businesses, traders, and large organizations.

• Key Investors: The equity round attracted investments from Y Combinator, Byld Ventures, Norrsken Africa, Heirloom VC, Plug and Play Tech Center, and Olive Tree Capital.

• Debt Financing: Timon Capital provided the $5 million in debt funding, which will be used to pilot trade financing for Waza’s large enterprise clients—a market worth an additional $371 billion in Africa.

• Operational Milestones: Since launching in January 2023, Waza has processed over $700 million in annualized payment volume, serving hundreds of businesses across six continents.

• Geographical Reach: Currently operational in Ghana and Nigeria, Waza is set to expand into new markets, supported by the recent funding. he company plans to deliver new trade finance products, further enhancing its offering to businesses in Africa.

Waza is on a mission to reshape B2B payments in Africa, leveraging its innovative platform and new funding to drive significant growth and development across the continent.