Wave Mobile Money Secures €117M to Accelerate Inclusive Financial Access Across Africa
This latest investment marks a major endorsement of Wave’s model and its potential to drive large-scale digital financial inclusion.
Wave Mobile Money , the mobile-first fintech transforming how Africans manage and move money, has closed a significant €117 million ($137 million) debt financing round to fuel its continued expansion and deepen financial inclusion across the continent.
The round was led by Rand Merchant Bank (RMB) and supported by major development finance institutions including British International Investment (BII), Norfund, and Finnfund. The capital will be used to strengthen Wave’s working capital, scale its operations, and extend its reach into new markets.
With a growing footprint in Burkina Faso, Gambia, Mali, Niger, and now Cameroon, Wave serves more than 20 million monthly users through a network of over 150,000 agents. Its low-cost, mobile-first approach—including 1% transfer fees and 24/7 customer support—has helped reduce barriers to financial access across underserved communities.
This latest investment marks a major endorsement of Wave’s model and its potential to drive large-scale digital financial inclusion. By expanding affordable access to essential financial services, Wave is playing a pivotal role in connecting millions to the formal economy and accelerating financial empowerment across Africa.
