Startup Zapper Plans to Raise Funds at $1 Billion Value

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.