Nigeria’s Interswitch confirms $1B valuation after Visa investment –
Summary
Interswitch also sells its products in 23 African countries and launched a partnership in August for its Verve cardholders to make payments on Discover’s global network. “The partnership will create an instant acceptance network across Africa to benefit consumers and merchants,” was the characterization offered in a press release. CEO and founder Mitchell Elegbe told TechCrunch, “a dual-listing on the London and Lagos stock exchange is an option on the table,” in a January 2016 call. A number of stories have surfaced, including Bloomberg News reporting in July that the company was poised to go public on the LSE. Interswitch also could be in a stronger position to offer more capital directly to the continent’s fintech startups by reviving its ePayment Growth Fund.
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