Nigeria

Nigerian Open Banking Startup Mono Picks Up US$15m Series A

Lagos-headquartered open banking startup Mono has raised US$15 million in a Series A. The round was led by Flutterwave’s backer Tiger Global. Participating investors included a mix of new backers Target Global (which also invested in Kuda Bank), General Catalyst,

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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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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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4 CBDC Projects in Africa You Need to Know

Central bank digital currencies, or CBDCs, are not a new concept to Africa. Multiple CBDC projects in Africa currently exist, even amidst a wider fintech boom across the continent. In an interview, Dr. Co-Pierre Georg, an expert on CBDCs, explains

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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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Africa’s Newest Unicorn OPay Raises US$400 Million From SoftBank

Nigerian mobile payments platform OPay has raised US$400 million in funding from SoftBank, Bloomberg reported. The investment was made from SoftBank’s US$40 billion investment vehicle Vision Fund 2. Existing backers of the company Sequoia Capital China, Chinese superapp Meituan’s VC

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Frozen Bank Accounts and Leaked Bills: Your Weekly Africa Fintech News Digest

Last week was a big one for Africa fintech news, especially in Nigeria. The country’s fintech sector made it to the headlines, not once but twice. And both times were pretty scandalous. Meanwhile, the wider Africa fintech ecosystem also saw

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CapitalSage Technology Picks Up U$4 Million Debt for Expansion

Nigeria-based CapitalSage Technology has raised NGN 2.2 billion, or U$4 million, in debt funding, the company announced. The financing was raised in a Series 1 Private Company issuance with a 365-day tenor, under the company’s NGN 10 billion programme. It

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Nigerian Car Financing Fintech Raised US$23 Million Series A

Nigeria-headquartered mobility fintech startup Moove has raised a Series A round of US$23 million, according to a statement. Speedinvest and Left Lane Capital led the round. Meanwhile, a number of participating investors also pitched in, including UAE-based KAAF Investments and

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Nigeria’s FairMoney Raises US$42 Million for Its Digital Banking Ambition

FairMoney, a Nigerian neobank with a credit-led model, announced that it had raised US$42 million in a Series B funding round. The round was led by Tiger Global Management and other existing investors in previous rounds such as Newfund, Speedinvest,

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