CHANNEL VAS ANNOUNCES NEW STRATEGIC INVESTMENT PARTNERSHIP – Channel VAS

Channel VAS announces that Ethos, a leading south african investment caller agreed on investing the sum of R700 million ( about $ 50 million USD ) in the leading Mobile Financial and datum analytics firm. This is the foremost 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 meter opening the Mobile Financial sector to Ethos .
Channel VAS is a market-leading provider 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 clientele offers micro and nano cash loans, handset loans and airtime/data loans to consumers, leading the Fintech sector by utilizing up-to-date adult data analytics through proprietary tools. The caller ’ sulfur strong traverse record combined with its continuous growth makes it once again a prime choice for major global investors .
“ We are excited to welcome Ethos on board as we continue our journey forth in this fast-moving Fintech worldly concern ” stated Mr. Bassim Haidar, Channel VAS collapse & CEO. “ As Channel VAS has been at the forefront of the Fintech revolution through Mobile Finance from its very begin, working in concert 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 body to more unbanked and underserved people globally through our advanced services. ”

From Ethos ’ side, Mr. Stuart MacKenzie, Ethos CEO stated : “ We are delighted to announce Fund VII ’ s first gear investing. The Fund successfully held its foremost close in October to accommodate this transaction and another that is expected to close in the adjacent few months. We are equally excited to confirm that our modern 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 exceeding collaboration and corporate insights between our deal, AI and value-add professionals that unlocked this uniquely attractive opportunity. ”

“ Channel VAS is a advanced business with a deep, results-driven sympathy of the mobile fiscal environment and an diligence leading capability of increasing the penetration of airtime distribution while minimizing nonpayment rates. This is achieved through sophisticate proprietorship big data analytics tools and credit-scoring algorithm ”, added Mr. Michael Jensen, Ethos spouse and deal lead. “ The clientele model is highly scalable and presents a meaning opportunity to expand their merchandise 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 ampere well as its range of services, adhering to its mission to offer fiscal inclusion through accessible and low-cost mobile fiscal solutions to the unbanked people and to fast growing young populations under-served by the traditional banking sector, particularly in emerging markets .

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