IFC arranged a $75 million financing package for TerraPay, which includes a $30 million loan from IFC’s own account, a B Loan of $15 million provided by asset manager ILX under IFC’s B Loan Program, and a combined parallel loan of $30 million from development finance institutions OP Finnfund Global Impact Fund I and BIO.
In Africa, TerraPay customers can send money from 41 countries and receive from 40. African customers can not only send and receive funds within Africa, but also to and from markets across Europe and Asia.
