Maviance Cameroon raises $3mn in equity financing, Gabon, Congo next on radar

Maviance, a digital finance services provider based in Cameroon, has raised USD 3mn in equity financing from MFS Africa in exchange for a minority stake in the company. The seed capital financing will be used to expand its flagship product’s, Smobilpay, national footprint and expand into the Republic of Congo and Gabon. New products are on the cards but not within the next twelve months.

Smobilpay is a platform which integrates payments solutions from banks, mobile money operators and telecom operators. It is also connected to GIMAC-the interoperability switch of the Bank of Central African States (BEAC).

About Maviance
The company was founded in Germany in 2008 by Jerry Cheambe and Michael Flach and was launched in 2012 in Cameroon. It is a b2b service that offers agency banking and bulk bill payments