Nigeria
Flutterwave Closes USD $250M in Series D Funding
Flutterwave announced that it has raised USD $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on the continent and worldwide. Flutterwave has become the highest
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Momentum Continues in Nigeria’s Fintech Ecosystem
In 2021, the momentum in Nigeria’s fintech ecosystem continued, driven by a blooming local startup scene, significant growth amongst large, established players, and a dynamic funding landscape. Fintech was investors’ favored tech sector last year. They injected a whopping US$800
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BlocPal and PayPassage Launch “Phygital” Financial Services Marketplace in Nigeria
Canada-based digital transaction platform BlocPal International and its majority-owned Nigerian subsidiary PayPassage have partnered to launch a financial services marketplace in Nigeria. The partnership marks BlocPal’s first launch in Africa, a statement from the company said. This is BlocPal’s third
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TradeDepot Secures US$110m to Scale BNPL Service to Retail SMEs
B2B ecommerce and embedded finance platform TradeDepot has raised US$110 million in a Series B equity and debt funding round. The International Finance Corporation (IFC) led the Series B. Participating investors included Novastar, Sahel Capital, CDC Group, and Endeavor Catalyst.
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FSD Africa to Launch BimaLab Insurtech Accelerator in Ghana and Nigeria
Specialist development agency Financial Sector Deepening (FSD) Africa is set to be launching its insurtech accelerator program in Ghana and Nigeria in 2022. The agency will be launching its BimaLab Insurtech Accelerator Program in the two West African countries next
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6 Biggest African Fintech Hubs Take the Spotlight
African fintech hubs have grown rapidly in the past few years, leading to pockets of fintech development across the continent. According to Findexable’s Global Fintech Rankings Report, 14 of the top Middle East and African fintech hubs came from the
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9 Top Fintech Companies in Nigeria You Should Know
Fintech companies in Nigeria are at the forefront of Africa’s fintech revolution, and many of them have turned out to become formidable players to watch out for. Last year, fintech companies in Nigeria picked up a majority of the funding
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SME Lending Startup Payhippo Fetches US$3m Seed Funding
Nigeria-based SME lending startup Payhippo has secured US$3 million in a seed funding round, according to a statement by the company. The round was led by a number of African founders leading some of the continent’s biggest fintech companies. They
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These 7 Digital Banks in Africa Are Heating up the Competition
In the context of digital banks in Africa, two challenger banks have clearly made their mark. One of these is the 2019-launched TymeBank from South Africa. TymeBank is the biggest digital bank in Africa by funding, having raised about US$169
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Nigeria Launches the eNaira Digital Currency
Nigeria officially rolled out its central bank digital currency (CBDC), the eNaira, on October 25. This makes it the first country in the African continent to officially allow the use of a CBDC as legal tender. Originally scheduled for an
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