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Fintech

A collection of 68 posts

Egypt: Fintech startup, Paymob raises $50 Million in Series B Funding

Egypt: Fintech startup, Paymob raises $50 Million in Series B Funding

Egypt-based fintech Paymob has raised $50 million in Series B funding, led by Kora Capital, PayPal Ventures, and Clay Point. Other investors in the round include Helios Digital Ventures, British International Investment, and Nclude. All existing investors, including A15, FMO, and Global Ventures also participated. The funding will be used

Techstars Accelerator comes to Lagos

Techstars Accelerator comes to Lagos

Techstars, one of the most influential accelerators in Africa has announced the ARM Labs Lagos Techstars Accelerator for early-stage fintech and proptech startups across the continent. The ARM Labs Lagos Techstars Accelerator will receive applications this June through August. Up to 12 startups will be selected on an annual basis

Nigerian Afriex Raises $10 Million For Its Blockchain Money Transfer Platform

Nigerian Afriex Raises $10 Million For Its Blockchain Money Transfer Platform

Nigeria-based fintech startup, Afriex has announced the close of a $10 million Series A round to expand its blockchain money transfer platform. This funding round was led by Sequoia Capital China and Dragonfly Capital with participation from Goldentree, Stellar Foundation, and Exceptional Capital, among others. Founded in 2019 by Tope

Nigerian fintech startup Sudo Africa raises $3.7M in pre-seed funding to expand into other African markets

Nigerian fintech startup Sudo Africa raises $3.7M in pre-seed funding to expand into other African markets

Nigerian financial service startup Sudo Africa has secured $3.7 million in pre-seed funding. Sudo Africa is a card issuing API platform, that enables developers and businesses to issue physical and virtual cards instantly. The pre-seed round was led by U. S-based Global Founders Capital (GFC) and had participating, Picus

Kenyan fintech startup, Credrails secures seed funding to revolutionize financial infrastructure in Africa

Kenyan fintech startup, Credrails secures seed funding to revolutionize financial infrastructure in Africa

Kenyan financial infrastructure startup Credrails will close a deal worth $2.5 million in a seed funding round to connect Africa to its API. The seed funding round was led by Softbank Group Corp. and participated in Unicorn Growth Capital, Precursor Ventures, and Samos Investments. Credrails delivers the infrastructure to

Nigerian fintech startup, Earnipay, raises $4M in seed funding to offer on-demand salaries to employees in Africa

Nigerian fintech startup, Earnipay, raises $4M in seed funding to offer on-demand salaries to employees in Africa

Nigerian fintech startup, Earnipay, has raised $4 million in seed funding to provide salary solutions to employees. The seed round was led by venture capital firm Canaan, with participation from XYZ Ventures, Voltron Capital, Ventures Platform, and Paystack CEO Shola Akinlade. Earnipay is a fintech solution that offers a start

South African API fintech startup, Stitch, closes $21m Series A funding round

South African API fintech startup, Stitch, closes $21m Series A funding round

African API fintech startup, Stitch, has announced the close of a $21 million Series A funding round to enhance its product offering and expand across Africa. This comes after the South African startup emerged from stealth with a $4 million raise early last year and a further $2 million seed

Nigerian Eazipay Inc. Joins the Y Combinator W22 Accelerator Program

Nigerian Eazipay Inc. Joins the Y Combinator W22 Accelerator Program

Eazipay Inc., a Nigerian startup that provides payroll and bookkeeping services to SMEs and corporates, has announced its participation in the Y Combinator Winter 2022 accelerator program. Based in Lagos, Nigeria, Eazipay designs Apps and APIs solutions for payroll and corporate taxes for small businesses and startups. With just one

Tanzanian remittance platform NALA, raises $10 M in a new fundraising round

Tanzanian remittance platform NALA, raises $10 M in a new fundraising round

Tanzanian fintech, NALA, has raised $10 million in a fundraising round. NALA is a cross-border payment company that recently pivoted its services from local to international money transfers. Investors in this funding round include Amplo, Accel, and Bessemer Partners, with local investors like DFS Lab. Also partaking are angel investors

MPOWER Financing partners Flutterwave to provide Student Loans for African students

MPOWER Financing partners Flutterwave to provide Student Loans for African students

MPOWER Financing, a social benefit corporation that helps international students access loans and scholarships in the US and Canada, has announced its partnership with Flutterwave, a tech-enabled global payment company focused on Africa, to offer seamless student loan application and payment for international students in Africa. MPOWER offers students admitted

Egyptian unicorn, Fawry, announces plan to raise $50 million, explores US listing

Egyptian unicorn, Fawry, announces plan to raise $50 million, explores US listing

Egyptian fintech giant, Fawry, has announced Thursday its plan to raise EGP 800 million (~$50.9 million) in growth capital through a rights issue to existing shareholders. In a statement, the company said the proceeds will be used to finance its growth in financial services for both consumers and merchants.

Finclusion closes $20M Pre-Series A funding to build out credit-led neobank offering across Africa

Finclusion closes $20M Pre-Series A funding to build out credit-led neobank offering across Africa

Finclusion Group, a fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products, has raised $20 million in debt and equity pre-Series A financing. Investors in the round include Andela and Flutterwave co-founder Iyinoluwa Aboyeji (who invested via his VC firm Future

Ghanaian fintech startup, Float, raises $17 Million to boost cash flow for commerce in Africa

Ghanaian fintech startup, Float, raises $17 Million to boost cash flow for commerce in Africa

There are at least 44 million formal SMBs in Africa. 71% of them require more finance to grow their businesses than they can currently access. However, obtaining credit isn’t easy and for most, it’s impossible as traditional banks prefer to focus on large corporations. To solve this problem,

Fintech Farm secures $7.4M investment, set to launch in Nigeria and other emerging markets

Fintech Farm secures $7.4M investment, set to launch in Nigeria and other emerging markets

Fintech Farm, a British fintech company that creates neobanks in emerging markets, has raised a $7.4M investment to launch neobanks in 8 countries during the next two years. The round was led by Flyer One Ventures and Solid, while Jiji, TA Ventures, u.ventures, and AVentures Capital also participated.

Kenyan Fintech startup, Paylend, bags $2M Seed Investment

Kenyan Fintech startup, Paylend, bags $2M Seed Investment

Kenyan fintech startup, Paylend, announced Tuesday that it has secured $2 million seed investment from Next Chymia Consulting HK Limited, an Asian based company that provides blockchain applications, consultancy services and training to global entities. Founded in September 2019, Paylend is focused on providing access to finance and digitizing MSMEs

Ivorian fintech CinetPay raises $2.4m seed funding from Flutterwave, 4DX Ventures

Ivorian fintech CinetPay raises $2.4m seed funding from Flutterwave, 4DX Ventures

CinetPay, an Ivorian fintech company that enables merchants in Francophone Africa to seamlessly accept and make payments, has announced a $2.4 million seed fundraising round from 4DX Ventures and Flutterwave. CinetPay was launched in 2016 by Idriss Monthe and Daniel Dindji. The platform provides a single interface for businesses

Egyptian fintech startup, KIWE, has received funding to help it expand

Egyptian fintech startup, KIWE, has received funding to help it expand

Egyptian fintech startup KIWE has raised its first round of funding, led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used to drive the startup’s growth by utilizing the offerings of its investors. Founded in March

South African fintech startup, Ozow bags $48m in a Series B round led by Tencent

South African fintech startup, Ozow bags $48m in a Series B round led by Tencent

South African fintech startup, Ozow has announced the close of a $48 million Series B funding round to enhance its product offering and expand into new markets. Ozow’s $48 million Series B round is led by the Chinese internet giant, Tencent, and also includes Endeavor Catalyst and Endeavor Harvest