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Startup Zapper Weighs Raising Funds at Near $1 Billion Value

  • South African firm may become Africa’s next unicorn with raise
  • Tech startup is said to have hired Ernest & Young as advisers
A Zapper 'Scan & Pay' QR code for mobile payment on the counter in a cafe in Johannesburg.

A Zapper 'Scan & Pay' QR code for mobile payment on the counter in a cafe in Johannesburg.

Photographer: Waldo Swiegers/Bloomberg
Updated on

Zapper is considering options to raise capital, including a stake sale, that could value the South African startup at nearly $1 billion, according to people familiar with the matter. 

The Cape Town-based mobile payments business hired Ernst & Young as advisers on a potential deal, the people said, asking not to be identified because the information is still private. Zapper may also consider a combination with a strategic bidder, they said.