Various

Jeff Bezos-Backed Chipper Cash Raises US$150m Series C

Pan-African cross-border payments company Chipper Cash has secured US$150 million in an extension to its Series C, TechCrunch reported. The round was led by Bahamian-based cryptocurrency exchange FTX. This is FTX’s first investment play in Africa. Participating investors included existing

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Fintech News Digest: What’s Behind Saudi Arabia’s Fintech Boom?

Saudi Arabia’s fintech ecosystem is thriving to say the least. In last week’s fintech news, a new report pointed out that Saudi fintech companies raised a three-figure total of US$157.2 million between January and August this year. Compare this to

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Fintech News Digest: The Problem of Surveillance in Africa’s Biggest Fintech Hubs

A new study has found that governments in six African countries have been spying on citizens through the use of technology (The Conversation). Governments in Egypt, Kenya, Nigeria, Senegal, South Africa and Sudan have been surveilling citizens, either through legal

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MEA Fintech Weekly News: Are Neobanks the Next Big Thing for Nigeria?

This week marked a new win for digital banks in Nigeria. Neobank Sparkle raised US$3.1 million in a seed round for expansion efforts (TechCrunch). Founded by former CEO of Diamond Bank Uzoma Dozie, Sparkle provides both individual and business banking

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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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Report: Africa’s Top Fintech Hubs Are Also Its Most Regulated

The development of Africa’s top fintech hubs is closely connected with how robust its regulatory landscape is, a new report by Afriwise points out. The report, titled “Catch me if you can: How regulators will impact Africa’s Fintech sector,” notes

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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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MEA Fintech Weekly News: Dubai Gets Regulatory Nod for Crypto Trading

In last week’s MEA fintech news, it’s all eyes on crypto trading in the UAE – approvals for crypto trading at a Dubai-based free zone make their way through, while BitOasis registers on an anti-money laundering system in the country.

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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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