InTouch Has Announced a Strategic Partnership with CFAO Group
- 08.07.2021 03:30 pm
InTouch, an African payment solutions and digital services aggregator founded in Senegal in 2014, announced today a strategic partnership with CFAO Group. The move comes as part of a capital increase through which CFAO will co-invest in Touch with Mobility54, a corporate venture capital fund created in partnership with Toyota Tsusho Corporation in 2019 to focus on Africa's mobility sector.
Established InTouch investors TotalEnergies and Worldline have also reiterated their commitment to the Pan-African start-up.
InTouch is a leading provider of payment and digital services distribution systems across Africa. The company aims to make financial services available to asmany people as possible across the continent, and has developed a solution that offers over 230 digital services such as mobile money, agency banking, moneytransfers,airtime top-ups, and acceptance of all the payment methods available in the countries in which InTouch operates (mobile money, credit and debit cards,vouchers, digital cash, etc.) through a single platform available as an Android app, web interface or API. The fintech, which is present in 10 countries, now has over 30,000 merchant customers and 1,000 corporate customers, and offers its services through 1,200 TotalEnergies service stations. InTouch has over 250 employees, and is aiming to roll out its solutions in five more countries by the end of 2021, taking the total to 21 by 2024.
CFAO's investment reflects its drive to actively develop Africa's digital payments industry. The Group aims to help InTouch grow to become the leader in the sector. CFAO's long-standing presence in 38 African countries will also empower InTouch to extend its reach in the region.
InTouch founder Omar Cissé said: "We are very proud to team up with CFAO Group on this amazing adventure. This should significantly strengthen our presence and help make InTouch akey player in payments throughout Africa.”
Richard Bielle, CFAO Group Chairman and Chief Executive Officer added: "The rapid growth of African economies and acceleration in the transformation will largely rely on financialinclusion. Since its inception, InTouch has been actively involved in this formative change for the continent. CFAO Group is delighted to join forces with two key players like TotalEnergies and Worldline in helping InTouch and its management team pursue their business development across Africa. ”
For Gilles Grapinet, Worldline’s Chairman and Chief Executive Office: "As a financial and industrial partner of InTouch since 2017, Worldline, Europe’s leading payment servicesprovider, is deeply committed to working alongside Omar Cissé and his staff to help him to fully realise the vision of this remarkable fintech, which intends to bring a unique paymentacceptance solution to Africa. This is why we are also particularly pleased to welcome CFAO Group as a new strategic partner to support the growth of InTouch and to boost itsdevelopment across the continent.”
Stanislas Mittelman, Head of Africa, Marketing & Services at TotalEnergies added: "We are pleased that CFAO, one of our major partners in Africa, is also joining the InTouchadventure. We continue to roll out the InTouch solution, which is very popular with our customers, to our service stations on the continent. ”