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FT Partners Advises Interswitch on its Strategic Investment from Visa

Overview of Transaction

  • On November 12, 2019, Interswitch, an Africa-focused integrated digital payments company, and Visa (NYSE: V), announced a strategic partnership that will further advance the digital payments ecosystem across Africa
  • As part of the agreement, Visa will acquire a significant minority equity stake in Interswitch at a total company valuation of $1 billion
  • Headquartered in Lagos, Nigeria, Interswitch is a leading tech-driven company focused on the digitization of payments in Nigeria and other African countries
  • Founded in 2002, Interswitch disrupted the traditional cash-based payments value chain in Nigeria by introducing electronic payments processing and switching services
  • Today, Interswitch is a leading player in Nigeria’s developing financial ecosystem with omni-channel capabilities across the payments value chain, processing over 500 million transactions per month in May 2019
  • In addition to its switching and processing services, Interswitch owns Verve, the largest domestic debit card scheme in Africa with more than 19 million cards activated on its network as of May 2019; Interswitch also operates Quickteller, a leading multichannel consumer payments platform, driving financial inclusion across Nigeria

Significance of Transaction

  • The investment makes Interswitch one of the most valuable FinTech companies in Africa
  • The partnership will create an instant acceptance network across Africa to benefit consumers and merchants and facilitate greater connectivity for communities

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to Interswitch
  • This transaction underscores FT Partners’ unparalleled domain expertise in the Payments space and successful track record of executing deals in emerging markets