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.
“Management is excited by future opportunities, underpinned by an innovative technology roadmap,” a Zapper spokesperson said in response to questions about a potential deal. Interested parties place “us in excellent standing for ongoing and future discussions,” the person said, declining to comment further.
