Posts From Fintechnews Africa

MEA Fintech Weekly News: Nigeria to Closely Scrutinise Fintech Startups

In last week’s MEA fintech news, the Central Bank of Nigeria (CBN) has once again hinted that it will be keeping a close watch on fintech startups in the country. At a recent seminar, Director of the Banking Supervision Department

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MEA Fintech Weekly News: The Case for Mobile Money in Sub-Saharan Africa

In last week’s MEA fintech news, mobile money took centre stage once again in the African continent. Meanwhile, UAE sees some funding and M&A activity, Egyptian banks launch a fintech fund, and a Nigerian startup raises US$10 million. Mobile money

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Nigeria’s Verto Secures US$10m Series A

Verto, a Nigeria-based B2B payments startup,  has raised US$10 million in a Series A round of funding according to reports. The SME-focused startup provides cross-border payments solutions for 39 currencies, on its web platform or by integrating with Verto’s API.

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Egyptian Banks Launch EGP 1 Billion Egypt Fintech Fund

Three Egyptian banks will be launching an Egypt fintech fund of EGP 1 billion (US$63.6 million) to support fintech companies next month, according to a recent statement. The three banks are National Bank of Egypt, Banque Misr, and Banque du

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African Crypto Exchange Raises US$15M From Square, Coinbase and More

Cryptocurrency exchange Yellow Card, which has a pan-African presence, has secured US$15 million in a Series A round. This is the largest ever funding round to have been raised by an African crypto exchange, a statement from the company said.

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Nigeria’s Infibranches Raises US$2m From Shell-Backed Impact Firm

Nigeria-based energy distribution and collection fintech startup Infibranches Technologies has secured US$2 million in a funding round raised from All On, Nairametrics reported. All On is the impact investment arm of oil and gas multinational Shell. The funding will be

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Egypt-Focused dopay Raises US$18 Million Series A

Egypt-focused B2B2C payments platform dopay has secured US$18 million in a Series A funding round, the company announced in a statement last week. The company is based out of London and currently caters to its initial market Egypt. Force Over

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Thunes and M-Pesa Tanzania to Boost Cross-Border Payments in East Africa

Global cross-border payments company Thunes has announced a partnership with M-Pesa Tanzania to launch a new service corridor, a statement from the company said. The service will allow users of M-Pesa Tanzania to transfer money directly from M-Pesa mobile wallets

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MEA Fintech Weekly News: Melio’s Valuation Soars After US$250M Funding

In last week’s MEA fintech news, we saw US-Israeli fintech startup Melio raise a quarter billion dollars at a hefty valuation, while another US-Israeli fintech company Pagaya announced its SPAC listing. Elsewhere, Nigeria emerged the top funded fintech hub in

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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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