SA’s Ethos Invest R700 Million Into Global FinTech Firm Channel VAS

FINTECH Investment Financial Internet Technology man hand on table Business, coffee, Split tone
FINTECH Investment Financial Internet Technology man hand on table Business, coffee, Split tone (Photo Credit:

South Africa’s private equity firm Ethos announced on Tuesday a R700 million investment into Channel VAS, a global Fintech provider.

This is the first investment from the Firm’s new large-buyout fund, Ethos Fund VII.

Channel VAS is a market-leading provider of Mobile Financial Services, Big Data analytics and Airtime Credit Service (‘ACS’) to mobile subscribers in over 30 countries across Africa, the Middle East, Asia, Latin America and Europe.

Working together with over 27 MNOs, the company currently serves over 650 million people globally, providing financial inclusion to more unbanked people every day.

“We are delighted to announce Fund VII’s first investment. The Fund successfully held its first close in October to accommodate this transaction and another that is expected to close in the next few months,” Ethos CEO, Stuart MacKenzie, said.

“We are equally excited to confirm that our new AI Fund is investing alongside Fund VII in Channel VAS.  Channel VAS was a complex investment to process due to the business’ geographic footprint and technology model.  It was the exceptional collaboration and collective insights between our deal, AI and value-add professionals that unlocked this uniquely attractive opportunity.”

Channel VAS founder & CEO Bassim Haidar, said the company is excited to welcome Ethos on board as it continues its journey forward in this fast-moving FintTech world.

“As Channel VAS has been at the forefront of the Fintech revolution through mobile finance from its very beginning, working together with visionary investors such as Ethos will help us continue to expand our already massive geographical footprint at an even faster pace, bringing financial inclusion to more unbanked and underserved people globally through our innovative services.”


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