TerraPay (IFC-41683)

  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 5, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 8.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 26, 2019

Disclosed by Bank Jul 1, 2019

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Project Description

The proposed project is an investment of up to US$8.1 million in equity into TerraPay, an Africa focused B2B remittance processing hub for pre-funded small value (US$150) international money transfers. TerraPay’s focus is on delivering remittances to African mobile money operators and banks accounts. IFC investment will be part of a transaction by an investment consortium to acquire the company and fund its expansion. 

IFC's investment will allow TerraPay to execute on its strategy to scale operations as a hub enabling interoperable, real-time, cross-border transactions between MTOs and mobile money operators. By providing pre-funding of mobile transfers as well as faster and cheaper clearing and settlement of international payments, TerraPay will remove a significant barrier for transfers to mobile money accounts, enabling instant payments across interoperable networks of operators. By enabling the electronic low-cost transfer of funds, the Project will encourage a greater share of formal remittance payments and strengthen the link to financial inclusion by enabling recipients to access a wide range of financial and non-financial services through their mobile wallets.


Investment Description
  • International Finance Corporation (IFC)
Contact Information

Terra Payment Services (Netherlands) B.V. 
Mr. Ambar Sur 
Maanplein 20, Building 8, 2516 CK The Hague, The Netherlands 


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