CHANNEL VAS ANNOUNCES NEW STRATEGIC INVESTMENT PARTNERSHIP – Channel VAS

Channel VAS announces that Ethos, a leading south african investment company agreed on investing the come of R700 million ( about $ 50 million USD ) in the leading Mobile Financial and datum analytics firm. This is the first investment from Ethos ’ new large-buyout fund, Ethos Fund VII and this venture will further support the expansion of quickly growing Channel VAS ’ footprint globally, while at the same time opening the Mobile Financial sector to Ethos .
Channel VAS is a market-leading supplier of Mobile Financial Services, Big Data Analytics and Airtime Credit Services to mobile subscribers in over 30 countries across Africa, the Middle East, Asia, Latin America and Europe. The occupation offers micro and nano cash loans, handset loans and airtime/data loans to consumers, leading the Fintech sector by utilizing up-to-date big data analytics through proprietorship tools. The company ’ mho strong track commemorate combined with its continuous emergence makes it once again a choice choice for major ball-shaped investors .
“ We are excited to welcome Ethos on circuit board as we continue our travel forward in this fast-moving Fintech worldly concern ” stated Mr. Bassim Haidar, Channel VAS fall through & CEO. “ As Channel VAS has been at the vanguard of the Fintech revolution through Mobile Finance from its very begin, working together with airy investors such as Ethos will help us continue to expand our already massive geographic footprint at an even faster pace, bringing fiscal inclusion to more unbanked and underserved people globally through our innovative services. ”

From Ethos ’ side, Mr. Stuart MacKenzie, Ethos CEO stated : “ We are delighted to announce Fund VII ’ s foremost investment. The Fund successfully held its first conclude in October to accommodate this transaction and another that is expected to close in the next few months. We are evenly excited to confirm that our new AI Fund is investing aboard Fund VII in Channel VAS. Channel VAS was a complex investment to process ascribable to the business ’ geographic footprint and technology model. It was the especial collaboration and collective insights between our conduct, AI and value-add professionals that unlocked this uniquely attractive opportunity. ”

“ Channel VAS is a advanced occupation with a deep, results-driven understanding of the mobile fiscal environment and an diligence leading capability of increasing the penetration of airtime distribution while minimizing default option rates. This is achieved through sophisticated proprietorship big data analytics tools and credit-scoring algorithm ”, added Mr. Michael Jensen, Ethos partner and deal star. “ The business model is highly scalable and presents a significant opportunity to expand their product offer into up-to-date Mobile Financial Services. ”
Channel VAS is presently operating in more than 30 countries globally, working together with over 27 MNOs. It is presently serving over 650 million people globally and lending more than $ 5 million USD casual. Channel VAS will continue to expand both its geographic footprint adenine well as its rate of services, adhering to its mission to offer fiscal inclusion body through accessible and low-cost mobile fiscal solutions to the unbanked people and to fast growing young populations under-served by the traditional bank sector, particularly in emerging markets .

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