Helios Investment Partners, which claims to be the leading Africa-focused private investment firm, has acquired a 76 percent stake in TPay, a direct carrier billing provider in the Middle East and North Africa region, according to a press release. 

Helios acquired the stake from A15, a leading tech investment fund based in Egypt. Terms of the transaction were not disclosed. A15 and senior management will remain minority shareholders, according to the release. 

TPay operates across 16 countries via 33 mobile network operators, with almost half of its total transaction volume coming from African markets such as Egypt, Tunisia, Algeria and Morocco, according to the release.

"This is an exciting addition to Helios' payments franchise in Africa, and we look forward to working with the management team to achieve the next phase of innovation and growth for the company," Babatunde Soyoye, co-founder and managing partner of Helios, said in the release.