News

Naspers Invests South African Insurtech Startup Naked

South African AI-based insurtech company Naked has clinched an investment of US$11 million, the company announced today. The investment was led by Naspers’ early stage investment fund Naspers Foundry, which committed US$8.3 million to the round. The round also saw

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Meet The Winners Of The Search – Africa Stop By ADGM

The African fintech space is undergoing a phase of radical growth, as speakers at The Search – Africa Stop 1 highlighted. Africa is at the epicenter of a fintech evolution. What started as a burst of growth in payments tech,

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Cairo Credit Management Platform CreditFins Raises Pre-Seed Funding

Cairo-based CreditFins, a credit card management fintech, has raised an undisclosed amount in pre-seed funding, the company announced. The round was led by Flat6Labs, AUC Angels, TA Telecom Holding, and other strategic tech angel investors, the company said. Meanwhile, CreditFins

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South Africa’s Yoco Secures US$83 Million To Scale Its Financial Ecosystem

Yoco, a payments and software company from South Africa, has raised US$83 million in a Series C funding round, the company announced in a statement. With the funding, Yoco’s total capital pool now stands at US$107 million. The company noted

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6 Fintech Startups In Egypt To Watch In 2021

Key developments in the Egyptian startup ecosystem have led to a renewed appetite for growth in the space, and for its fintech startups in Egypt as well. Much of this activity is attributed to a slew of policy level shifts.

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Dashen Bank Joins Hands With Thunes to Enhance Cross-Border Payments to Ethiopia

Ethiopia-based Dashen Bank has partnered with Singapore-headquartered cross-border payments platform Thunes to increase the ease of sending international payments to Ethiopia. Dashen Bank will leverage Thunes’ network of payment partners, which operates across more than 100 countries, to offer instant

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Payments Firm Cellulant Secures License to Operate From the Bank of Tanzania

Tanzania-based Cellulant Corporation has received approval to operate as a Payment Solution Service Provider (PSSP) from the Bank of Tanzania. This would place Cellulant amongst the top five PSSP players offering digital payments solutions to be endorsed by the Bank

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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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UK’s Ghana International Bank Taps Backbase to Spur its Digital Strategy

Ghana International Bank (GHIB), a UK-headquartered pan-African bank, announced that it has partnered with engagement banking technology provider Backbase. The partnership will underpin the bank’s digital transformation, accelerate innovation and, by allowing GHIB to create tailor-made solutions, provide an enhanced,

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Ghanaian E-Wallet Zeepay Secures US$ 7.9 Million in Series A Funding

Ghanaian digital wallet Zeepay announced completion of a US$ 7.9 million Series A funding that is a hybrid of both equity and balance sheet funds to support its operations. The fundraise was led by I&P, an impact investing group with

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