South Africa's Zapper considers raising new funds – Bloomberg News

South Africa-based mobile payments startup Zapper has contracted Ernst & Young Global Ltd. to advise it on new fundraising, Bloomberg News reported.

Zapper might consider a stake sale to raise the capital, Bloomberg noted, citing people familiar with the matter. The company could reach a valuation of almost $1 billion through the new capital raise.

Zapper, founded in 2014, also provides QR codes for users' payments.

A company spokesperson reportedly said "management is excited by future opportunities," without confirming that it was looking into raising new money or giving concrete details on any involved parties.