Latham & Watkins advised Interswitch, Helios Investment Partners and TA Associates on the transaction.
Interswitch and Visa entered into 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.
The partnership will create an instant acceptance network across Africa to benefit consumers and merchants and facilitate greater connectivity for communities. Both parties will also retain their respective independent solutions, and Interswitch will retain its scheme neutral strategy.
FT Partners acted as exclusive strategic and financial advisor to Interswitch on this transaction.
Founded in 2002, Interswitch is a leading technology-driven company focused on the digitisation of payments in Nigeria and other countries in Africa.
Visa Inc. is the world leader in digital payments.
Latham & Watkins advised Interswitch, Helios Investment Partners and TA Associates with a team led by London corporate partners Kem Ihenacho (Picture) and Linzi Thomas, and which included partners James Inness and Christian McDermott.
Law Firms: Latham & Watkins;