November 13, 2019
Interswitch Limited (“Interswitch” or the “Company”), a leading technology-driven company focused on the digitisation of payments in Nigeria and other countries in Africa, and Visa Inc. (“Visa”), the world leader in digital payments, announced a strategic partnership that will further advance the digital payments ecosystem across Africa.
As part of the agreement, Visa will acquire a significant minority equity stake in Interswitch. The investment makes Interswitch one of the most valuable African FinTech businesses with a valuation of US$1 billion. Visa will join globally renowned investors, Helios Investment Partners, TA Associates and IFC, as shareholders in Interswitch, alongside Company management.
Latham & Watkins advised Interswitch, Helios Investment Partners and TA Associates on the transaction, with a team led by London corporate partners Kem Ihenacho and Linzi Thomas, and which included partners James Inness and Christian McDermott.