Ghana-based fintech Dash, which allows users to connect their mobile money accounts and traditional bank accounts through a connected wallet, today announced it has raised $32.8 million in a seed round masstamilan. The round, led by New York-based venture capital firm Insight Partners and Global Founders Capital, is one of the largest of its kind in Africa myvuhub.
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Dash, which launched in 2020 and raised its first seed round last October, processes transactions for users from Ghana, Nigeria and Kenya and makes revenue from processing fees, savings (interest earned when people save on the app), FX fees when they use it cross-border, bill payments and subscriptions to its premium service, Dash+. The startup, which is headquartered in New York, claims to have processed over $300 million in transaction volume (TPV) in January 2022, up 300% from its Q4 2021 total teachertn.
In the five months since Dash closed its initial seed round in October, it has grown to a million customers and processed more than $1 billion in TPV. That’s a 4x increase in user count and a 5x growth in transaction volume from the company’s original funding level, Prince Boakye Boampong told TechCrunch in March pagalsongs.
The $32 million infusion will help the company build out its team, launch features, and expand its footprint across key markets in Africa. Among other things, the funds will also allow the company to develop Dash Plus, an add-on for the platform that enables the company to process payments in multiple currencies yareel. In addition, the funding will help the company launch new services in South America and Asia. And finally, it will also help the company to continue its development of its AI-powered platform for product reviews.