Industry Newsroom

DPI and Convergence Partners Invest USD54 Million in Channel VAS

Africa-focused private equity firms Development Partners International (DPI) and Convergence Partners have invested USD54 million in Channel VAS, a UAE-based financial technology company. Channel VAS provides mobile financial, airtime credit, and data analytics services to mobile network providers and financial institutions to facilitate micro-loans. The company currently operates in over 30 countries in Africa, the Middle East, and Asia, with a focus on emerging markets.