News
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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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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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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YO-Uganda Forms Partnership With USADF to Deploy Mastercard Farmer Network
Yo-Uganda Limited (“Yo!”), a 16-year-old leading financial technology solutions provider based in Kampala, Uganda, has announced a new grant partnership with the United States African Development Foundation (USADF) to roll out Mastercard Farmer Network – a digital agriculture solution that
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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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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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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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