Mr Eazi Sets Up Zagadat Capital, Invests in PawaPay’s $9M Seed Funding

Vanessa Obioha

Again, Oluwatosin Ajibade, popularly known as Mr Eazi, is contributing to the African technology economy by investing in its growth. This is evident in his establishment of Zagadat Capital, which recently invested in PawaPay, a company that aids people to send and receive money internationally. This investment was done in partnership with U.K.-based fund 88mph who co-led the round with China-based MSA Capital, Kepple Ventures and Vunani Capital.

Mr Eazi is no stranger to the world of investment. In 2020, he raised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.

With Zagadat Capital, he plans to direct funding to startups and businesses that will power Africa’s tech future.

Being investors hugely focused on Africa and taking advantage of familiarity with the landscape, investment needs and problem profile of Africa is what drives Ajibade.

“We believe that mobile money-focused fintech is not just one of the most exciting places to invest but also one of the most important bridges to ensuring financial inclusion of billions of people across the continent. The kicker for us is that we believe in the clear mission, vision and strategy and we are confident that the PawaPay team is the best team to achieve it.”

With its recent investment in PawaPay, Zagadat Capital is building a continent financially connected within itself and the international community.