Posts From Fintechnews Africa

Egypt’s Kashat Raises US$1.75m for Micro Lending App

Kashat, an Egyptian micro loan solutions provider, has raised US$1.75 million in a new bridge funding round, Magnitt reported. The round was led by pan-African VC fund Launch Africa Ventures, and had “key” regional investors participate, the report said. This

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Africa Fintech Weekly News Digest: Funding Receives US$1B Boost, While Flutterwave Dominates Headlines

Funding rounds made a splash in Africa fintech news last week. African fintech startups Wave, Pezesha and Prospa all raised funding, along with a mega round by Egyptian startup MNT-Halan. The funding news came amidst a new report highlighting that

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Nigeria’s Prospa Raises US$3.8m in Oversubscribed Seed Round

SME banking fintech Prospa has raised US$3.8 million in the largest pre-seed round to have been raised by a Nigerian fintech startup, according to an announcement by the company. The pre-seed round is the largest of its kind in Nigeria

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Egyptian Super App MNT-Halan Bags US$120m

Egyptian financial and logistics super app MNT-Halan has secured US$120 million from private equity and venture capital investors, the company announced in a statement today. The funding was raised from Apis Growth Fund II by Apis Partners, Development Partners International,

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Kenya SME Lender Pezesha Raises Seven-Figure Seed Extension

Kenyan fintech startup Pezesha has secured a seven-figure seed extension round led by GreenHouse Capital (GHC). The round also included GHC’s sister company Venture Garden Group, which provided “on-lending liquidity support,” the company said. The funding will be used to

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Mobile Money Startup Wave Turns Unicorn With US$200M Raise

U.S. and Senegal-based mobile money provider Wave has raised a substantial US$200 million in a Series A fundraise, TechCrunch reported. This makes the company the first unicorn for the Francophone Africa region, with the Series A being the largest ever

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Your Weekly Africa Fintech News Digest 30.Aug- 6.Sept

In last week’s Africa fintech news, Australian BNPL firm Zip broadened its global expansion plans with the acquisition of South African BNPL startup Payflex. Zip already owned 25% of Payflex from a deal six months ago (TechCrunch). Zip snapped up

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Mobile Money Fintech pawaPay Hauls US$9 Million Seed Funding

London-based payments company pawaPay, which focuses on the Africa market, has raised US$9 million in a seed round, according to an announcement. China’s MSA Capital and UK-based 88mph led the round. Participating investors included Vunani Capital, Kepple Ventures and Zagadat

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SoftBank’s US$400 Million Africa Bet: Your Weekly Africa Fintech News Digest

In the biggest headline of Africa fintech news last week, Nigerian mobile payments platform OPay raised a staggering US$400 million towards expansion. A number of illustrious global investors were involved in a round that gave Africa its fifth unicorn. The

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Ethiopian Challenger Bank Seals Core Islamic Banking Deal With Path Solutions

Ethiopian challenger bank Hijra Bank has has awarded a core banking deal to Islamic banking provider Path Solutions, according to a recent announcement. The announcement comes after a “highly competitive bidding and selection process,” the statement said. The partnership involves the

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