Interswitch, Nigeria’s Unicorn, Acquires VANSO in a $75 Million Deal

Interswitch, Nigeria’s Unicorn, Acquires VANSO in a $75 Million Deal

Interswitch, Nigeria’s leader in payment and transaction process has announced its acquisition of Vanso, traded as Vanso Limited, for NGN 15 billion

Interswitch is currently Nigeria’s first and only Unicorn valued at $1 billion.

Before its acquisition by Interswitch, Vanso was a fin-tech solutions provider with focus on mobile payments, banking and mobile messaging platform development for the financial industry.

Vanso

In recent months, Interswitch has been making bullish moves by entering new markets including Kenya and major markets in central Africa. With about 25 million debit and credit cards used by Nigerians, Interswitch has about 18 million of this figure.

Interswitch is currently Nigeria’s first and only unicorn valued at $1 billion. The company plans to list on the Nigeria’s Stock Exchange, NSE and the London Stock Exchange, LSE, later this year.