Zoona
Company

Last deal

Amount

Corporate Round

Stage

12.10.2018

Date

3

all rounds

$22.93M

Total amount

date founded

Financing round

General

About Company
Zoona is an African Fintech provider with an interoperable distribution network.

Industry

Sector :

Subsector :

Keywords :

founded date

01.01.2009

Number of employees

Company Type

For Profit

Last funding type

Corporate Round

IPO status

Private

Description

Zoona provides access to money transfers, savings, credit, and bill payments to predominantly unbanked customers through its network of widespread, liquid agents. Since 2009, they have processed over $2 billion in transactions and have been recognized for their work in empowering women entrepreneurs. Zoona is passionate about growth in Africa and aims to enable a new generation of independent, thriving business owners through entrepreneurship and technology.
Contacts
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M&A Details
2

Transaction name

Acquired by

Chipper Cash

announced date

18.11.2022

Financials

Funding Rounds
8
3

Number of Funding Rounds

$22.93M

Money Raised

Their latest funding was raised on 12.10.2018. Their latest investor Mennonite Economic Development Associates. Their latest round Corporate Round

Date 
Funding Round 
Investors 
Money Raised 
Lead 
International Finance Corporation

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Investment Banking and Brokerage Services

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Diversified Financial Services

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484

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Venture - Series Unknown
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People

Founders
3
Mike Quinn
Mike Quinn

Mike Quinn

Mike Quinn is a co-founder and CEO of Boost, with a mission to enable 10 million small businesses to thrive in Africa's emerging digital economy. Prior to Boost, Mike was a co-founder and CEO of Zoona, one of Africa's earliest fintechs. During his 10-year tenure, Zoona processed over $2.5 billion of transactions, generated over $26 million in income for 3,000 micro-entrepreneurs across Zambia and Malawi, and raised oer $35 million in investment. In 2015, Zoona was recognized by the Nike Foundation and Unreasonable Institute as part of the Girl Effect Accelerator for helping girls out of poverty. For his leadership, Mike was awarded the Accion 2017 Edward W. Claugus Award for Leadership and Innovation in Financial Inclusion along with one of the Schwab Foundation's 2018 Social Entrepreneurs of the Year. Mike holds an MBA with Distinction from Oxford University, where he was a Skoll Scholar for Social Entrepreneurship, along with an MSc in Management Development from the London School of Economics and a BASc in Mechanical Engineering from the University of British Columbia. He grew up in Calgary and has lived in Ghana, Zambia, South Africa, and the UK. He has an amazing wife and two awesome kids, and loves to hike, run, mountain bike, and play guitar.

current job

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2

Mike Quinn

Brad Magrath
Brad Magrath

Brad Magrath

Brad, along with his brother Brett, co-founded Zoona in 2009. Brad is our Chief Operations Officer and ensures that the daily activities are aligned with the business’s goals and that the company is doing everything they can to help communities thrive. Brad is passionate about entrepreneurs and has established multiple profitable businesses in Zambia and Malawi. He has over 15 years of senior management experience as the managing director of Plascon, Commercial Director of what is now MTN, and General Manager of Carpe Diem. Brad established and chaired the Zambian South African Business Association, as well as the Zambian Payment Association. He is also an active member of the National Financial Sector Development Committee in Zambia, engaging with the private sector, banks, and governments to establish payment and banking policy.

current job

Zoona
Zoona

organization founded

1

Brad Magrath

Brett Magrath
Brett Magrath

Brett Magrath

Brett Magrath co-founded Zoona with this brother Brad. Today Brett is the Chief Z Officer of the company where he is responsible for driving innovation for the business of tomorrow. He worked at JPMorgan Chase & Co, and later as managing director of CAD International. Today, he drives innovation and new product creation at Zoona. Brett earned his degree at University of Natal.

current job

Zoona
Zoona

organization founded

1

Brett Magrath

Employee Profiles
23

Latoya Adriano

Digital products field coordinator

Brad Magrath

Brad Magrath

Group CEO & Director

Chilekwa Nyambe

Head corporate relations

Nicole Aanhuizen

Executive assistant

Jenny Purchase-Relph

Director

Brett Magrath

Brett Magrath

Chief Customer Officer

Heath Coleman

Devops engineer

Dean Van Der Byl

Project office manager

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