Nigeria’s Interswitch confirms $1B valuation after Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion,” Interswitch said in a release to TechCrunch. The Visa investment could create the first of two market distinctions for Interswitch — as it shouldn’t change the Lagos-based company’s plans to go public.

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