News
Here are the Top 5 Fintech Startup Funding Rounds in Nigeria
Nigeria is home to the largest number of startups and startup funding rounds in the last decade in Africa with 383 startups securing over US$2 billion from 2015 to 2022 — a large part of which involve fintech startups, according to
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Glo’s MoneyMaster PSB Launches Digital Financial Services Platform G-Kala
Nigerian telco Globacom, commonly known as Glo, has officially launched its new mobile payments and banking business MoneyMaster Payment Service Bank (PSB). The subsidiary was first established in 2019. It then received a payment service bank license from the Central
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Uganda’s Numida Raises US$12.3M Pre-Series A Led By Serena Williams’ VC Firm
Uganda digital lending platform Numida has raised a US$12.3 million pre-Series A funding round led by Serena Williams’ venture firm Serena Ventures. Breega, 4Di Capital, Launch Africa, Soma Capital, MFS Africa, and Y Combinator participated in the US$7.3 million equity
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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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ProvidusBank Launches Tap-to-Pay Service With Mastercard, Interswitch and Thales
Nigerian financial services company ProvidusBank has partnered with Mastercard, African payments infrastructure provider Interswitch, and French technology company Thales Group to introduce a new Tap-to-Pay contactless payment service in the country. The new service allows users to make in-store payments
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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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Top 8 Most Well-Funded Fintechs in Africa
Africa’s fintech sector is booming, fueled by soaring venture capital (VC) funding activity, rising adoption of digital financial services among both consumers and businesses, and increasing efforts from governments to improve financial inclusion. Between 2020 and 2021, the number of
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B2B Payments Platform Julaya Raises Additional US$5M Led By Speedinvest
Ivory Coast-based payments company Julaya has raised a US$5 million extension round led by European venture capital fund Speedinvest to expand its operations in West Africa. EQ2 Ventures, Kibo Ventures, angel syndicates Unpopular Ventures and Jedar Capital, as well as
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10 Companies Awarded Kenya’s First Digital Credit Provider Licenses
The Central Bank of Kenya (CBK) announced that it has awarded licenses to 10 digital credit providers out of the 288 applicants who responded to its call for applications in March 2022. The announcement stated that all digital credit companies
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Clickatell Enables Nigerians to Access eNaira Services Even Without Mobile Data
Chat commerce platform Clickatell has partnered with the Central Bank of Nigeria (CBN) to launch a USSD channel for the eNaira to enable Nigerians to access their eNaira wallet without the need for mobile data. The new USSD channel allows
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