Orange invests EUR 1 million in Afrimarket

Wednesday 28 January 2015 | 15:03 CET | News
Money transfer operator Afrimarket, which uses a 'cash to goods' model, has closed a EUR 2 million funding round comprising EUR 1 million from Orange and EUR 1 million from Elior's BIM investment fund. Afrimarket has 30,000 customers, mainly expats, and employs 35 people. It does not offer the same service as money transfer market leaders such as Western Union. The funds that it transfers in Africa can only be used by the recipients to buy goods (food, home appliances, health, construction, etc.) from a network of 300 partner vendors in Senegal, Cote d'Ivoire, Benin and Togo. Afrimarket

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Categories: Internet
Companies: Orange
Countries: Africa
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