Location: Ethiopia | Pan-Africa
Sector: e-Payment, m-Banking
Start Date: November 2011
Deal Size: 500K Euros
Status: Capital Raising
Inter-operable mobile payment system allowing users to add credit to order products and services, transfer credit and also pay and get paid quickly and easily without sharing personal information.
The company offers its customers and partners complete and ready made m-payment systems that can be hosted or collocated using our real time transaction processing platform. These systems will allow existing and potential customers to access the bank's traditional online services (phone banking, web banking, etc.), but also other new value-added services via mobile phones (m-banking & m-payments), (mobile) POS terminals, ATM and the internet (e-coupons, sms banking, utility bill payment, peer to peer money transfer by mobile phone)
In the process of establishing operations on the African continent, BelCash chose Ethiopia as their first toehold. inSight began discussions with BelCash mid-2011 to better understand their objectives within Ethiopia, specifically, and the continent at large.
inSight is seeking to raise capital for BelCash Africa, the parent company of BelCash Ethiopia and other BelCash entities throughout Africa
BelCash is currently in discussions with investors arranged both independently and through inSight. Operations are set to begin in early-mid 2012.