Ghanaian fintech Dash raised $32.8 million in seed led by Insight Partners

Ghanaian fintech Dash raised $32.8 million in seed led by New York-based private equity and venture capital fund Insight Partners where Global Founders Capital and 4DX Ventures with ASK Capital, Techstars, Guillaume Pousaz’s Zinal Growth Partners, Jitendra Gupta of Jupiter Money, Amrish Rau of Pine Labs, the founders of Moss, executives from ProcessOut and the founders of PennyLane also participated.

Dash's vision is to build a network in which mobile money and traditional banks can interact and facilitate transactions for consumers and businesses. Dash, like Visa or Mastercard, routes payments through banks and telecommunications companies regardless of who issued it. The startup raised funds to help digital payment platforms in Africa interoperate. The deal, which is one of the largest in Africa, will aid in the development of Mastercard and Visa-style intermediary services for mobile payment wallets across the continent. The fund will be used by the startup to expand into new markets such as Tanzania and South Africa, obtain the necessary licences, build out its team, invest in technology, and launch new features.

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