FinTech
Egypt’s Fawry Sees Profit Skyrocket By 124%, New Ventures Drive Growth
Like the biblical Goshen, Fawry has remained untouched by Egypt’s economic crisis that saw the nation’s currency devaluate by 40%. It has even thrived in the process.
Category
FinTech
Reporting filed under FinTech.
Showing 1–20 of 34 articles
Funding
Ghana-based Oze Raises Funding From Visa and DEG, Aims To Bolster AI Lending For African SMEs
At the moment, Oze operates across eight African nations including Ghana, Nigeria, and Rwanda, partnering with commercial banks like Ecobank to extend its reach.
Funding
Nigeria’s VFD Group Eyes Fintech With $3.3 Million V Bank Investment
V Bank was officially launched in March 2020, quickly gaining popularity and traction in the Nigerian financial landscape, a popularity that came from offering zero maintenance fees and competitive interest rates.
Funding
Ivory Coast’s Djamo Secures $1.3 Million In Post Series B Funding
These partnerships enable Djamo to issue domestically recognized payment cards, ensuring higher transaction success rates, as local merchant fraud detection algorithms often favor local cards over foreign alternatives.
FinTech
Ghana’s Fintech Startup Affinity Africa Lands $8 Million In Seed Funding To Drive Financial Inclusion
Affinity Africa’s growth figures depict a bullish rise of a 3x year-on-year increase in customer base and a 35% month-on-month rise in savings since the app launch.
M&A
Finimo Founders Sell Fintech Derivate Exipay To Stitch Two Years After Launch
At the time of acquisition, ExiPay held existing contracts with several enterprise clients and PSPs operating in South Africa and other African markets, including omnichannel retail brand Bash. With this acquisition, Stitch will serve Bash for both their online and in-person payments needs, and will continue serving other existing ExiPay clients.
FinTech
South Africa-based UsPlus Raises $2 million Investment To Bolster SME Financing
UsPlus aims to use the new capital to strengthen its balance sheet and attract further senior debt funding.
Funding
Fintech Startup Accrue Lands $1.85 Million Seed Funding To Accelerate Cross-border Payments in Africa
Today, Accrue boasts over 200,000 users across eight African countries: Nigeria, Ghana, Kenya, South Africa, Cameroon, Uganda, Zambia, and Malawi.
Funding
Moniepoint Lands $10 Million Investment From Visa To Support Financial Inclusion Across Africa
Moniepoint has carved a territory for itself by providing digital financial services to individuals and businesses.
FinTech
Egypt’s MoneyHash Lands $5.2 million in Pre-Series A Funding, Seeks To Unify African Payment Systems
MoneyHash’s milestone funding comes amid rising investment in African fintech startups, which have proven to be trailblazers in venture capital funding on the continent.
FinTech
IFC Places Onafriq’s $50 Million Credit Line On Hold
Since its inception in 2021, Onafriq has rapidly spread across Africa through acquisitions and organic growth while its headquarters remained in London.
M&A
Egypt’s Raseedi Eyes 5-minute Loans Following Kashat Acquisition Deal
With the acquisition of Kashat, Raseedi will be able to offer cash loans of up to EGP 3,000 (approximately $95) to small business owners and sole proprietors, an amount that will be scheduled for disbursement within five minutes
Funding
Former Director at Opay Leads LemFi To Secure $53 Million Series B Funding
At the moment, LemFi operates across 27 send-from markets and 20 send-to countries, including Nigeria, Kenya, India, China, and Pakistan.
FinTech
Nigeria’s Moniepoint Sets its Gaze on UK Markets
The UK branch of Moniepoint has accrued a total loss of $1.4 million over 17 months since it was founded in August 2022. However, the company’s directors, Tosin Eniolorunda and Felix Ike, retain high hopes about its long-term profitability.
Funding
ValU Raises $10 Million Via Debt Market in Latest Securitization Deal
In a move that further diversifies the company’s offerings and enhances convenience for its growing customer base, ValU recently partnered with Visa to launch the Titanium credit card, providing exclusive benefits to its customers.
FinTech
Sourcefin Secures $8.3M From Futuregrowth Following TymeBank Acquisition of Capital
The investment in Sourcefin aligns with HGDEF’s mandate to support high-growth, impactful businesses.
FinTech
Hisa Co-Founder Steps Down as CTO After Risevest Acquisition
Now, with Hisa joining the Rise brand, I wish the team continued success and growth. Hisa will always hold a special place in my heart.” Jackson said in his resignation letter.
FinTech
Mama Money To Change The Face Of South African Banking With WhatsApp-powered Bank Card
“We have always sought ways to make financial services more accessible and tailored to the needs of our unique customer base,” says Mathieu Coquillon, co-founder of Mama Money.
FinTech
Natsave Collaborates With Airtel Money To Launch Fikiliza Overdraft
This feature is particularly useful for individuals and small business owners who may lack access to traditional banking services. It will be providing them with a convenient and secure means to obtain short-term credit.
FinTech
Access Bank UK Acquires Mauritius’ Fourth Largest Bank
“Mauritius, renowned for its robust financial services sector, which contributes 13.4% to its gross domestic product, provides Access UK with a solid foundation to expand its operations in the high-growth personal and corporate banking segments.”