South Africa
Acquisitions of South African Fintech Specialist E4
A consortium led by independent private equity fund manager, Infinite Partners, has announced its acquisition of South African fintech specialist, e4. The transaction will see e4 obtain the necessary capital for advancing to the next stage of its expansion. Infinite
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Robust Results from Lesaka as it Champions Financial Inclusion
South Africa’s informal market is a space that is well understood by South African fintech, Lesaka Technologies, a champion of financial inclusion, steadily building a leading position in these fast growing, previously underserved markets. GG Alcock, who coined the term
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South African Peach Payments Collects US$31M Series A Funding
Apis Growth Fund II, a private equity fund managed by Apis Partners, a UK-based asset manager, announces its proposed investment of €29M (US$31M) in Baobab Payments GmbH (trading as Peach Payments), a rapidly growing digital payment service provider that enables
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South African Insurtech Naked Raises US$17M in Series B Funding From IFC
Naked — a South Africa based insurtech company that offers a new, fully digital way for consumers to insure their cars, homes, and valuables — has announced that it has raised US$17 million (about R290 million) in Series B Funding.
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African Fintech Sector Attracts More Funding
The African fintech sector is gaining interest from global investors. Recently, Algerian super app Yassir announced that it had raised US$150 million in Series B funding – making it North Africa’s most significant funding to date. Participating investors led by
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Vodacom, Alipay to Launch Financial Services App VodaPay in Egypt
South Africa’s Vodacom Group is planning to launch its Alipay-enabled financial services app VodaPay in Egypt, according to a Bloomberg interview with Vodacom’s CEO Shameel Joosub. The launch comes after the mobile communication company obtains the necessary approvals to acquire
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MFS Africa Partners Ripple to Enhance Its Real-Time Mobile Payments
Mobile money company MFS Africa has partnered with crypto solutions provider Ripple to streamline real-time mobile payments for its customers across 35 countries. The partnership will see MFS Africa utilising Ripple’s On-Demand Liquidity (ODL) solution to reduce bottlenecks associated with
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Meet the 6 Fintech Startups Competing in the Ecobank Fintech Challenge 2022 Finals
African banking group Ecobank Group has announced the six finalists for the fifth edition of the Ecobank Fintech Challenge, chosen from a pool of 700 applicants in 59 countries. Finalists will undergo a mentoring programme to explore funding opportunities and
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5 African Fintech Startups on CB Insights’ Fintech 250 Most Promising List
Five African fintech startups made this year’s Fintech 250, CB Insights’ annual list of the 250 most promising private fintech companies in the world. The 250 winners were selected from a pool of over 12,500 eligible private companies based on
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Biometric Identity Verification Startup iiDENTIFii Raises US$15M Series A
Identity verification platform iiDENTIFii has raised a US$15 million Series A funding round led by African investment company Arise, with Sanari Capital and angel investor Bill Spruill. iiDENTIFii’s biometric authentication technology enables identity verification through cellphones and computers. The solution
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