Visa acquires stake in Nigeria’s Interswitch

Interswitch Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. Global payments giant Visa will invest $200 million for 20% stake in Interswitch, electronic payments company, UK’s Sky  News reports. The investment places a billion-dollar valuation on 17-year old Interswitch and is a major boon ahead of a proposed initial public offering slated for  the London Stock Exchange next year. “The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion,”…

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