Gate News message, April 14 — Ghanaian fintech startup appsNmobile has secured $1 million in funding from Oasis Capital VC fund to expand its e-payment services for businesses in Ghana. The investment will support the scaling of its virtual point-of-sale (vPOS) solution and help meet regulatory capital requirements.
Founded in 2015 by Richard Bansah, appsNmobile provides a USSD-enabled vPOS application that allows micro, small and medium enterprises (MSMEs) to accept payments from customers. Each merchant receives a unique USSD short code extension for transactions, with the platform particularly targeting businesses that cannot afford traditional POS devices. The app features dynamic menus that notify merchants of completed transactions and provides access to a portal for viewing payment history.
A portion of the funding will be used to fulfill the Bank of Ghana’s license capital requirement of GH₵2 million ($346,000). The company also operates Agropay, an agricultural payments platform that enables farmers to receive payments from agribusinesses and monitor transactions. Oasis Africa VC fund, which led the investment, is a $50 million fund backed by the International Finance Corporation (IFC), the European Investment Bank, and the Dutch Good Growth Fund (DGGF).
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