Comviva Sells Stake in TerraPay to Prime Ventures, Partech Partners and IFC
Mobility solutions provider Comviva has sold its shares in fintech company TerraPay to a consortium of Prime Ventures, Partech Partners and IFC.
The company has, however, not disclosed the value of the deal.
Prime Ventures and Partech Partners are co-investing in TerraPay, along with International Finance Corporation, a member of the World Bank Group, a firm said.
"Apart from acquiring Comviva shares, the investors have further invested USD 9.6 million in TerraPay to fund the company's expansion," it added.
TerraPay, incubated by Comviva in 2015, provides payment infrastructure services by enabling payment service providers such as banks, mobile money operators, money transfer operators or other payment providers to instantly connect to each other at a low cost.
Since 2015,...