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South African payments startup Yoco raises $83M Series C backed by Dragoneer

TechCrunch

In South Africa, these businesses contribute around one-third of the country’s GDP. Since launching in 2013, South African fintech Yoco has positioned itself as the go-to platform to access offline payments among merchants in the country. “We want to offer whatever payment methods our merchants need.

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Egyptian fintech Sympl raises $6M for its ‘save now, pay later’ service

TechCrunch

Though BNPL has taken off in most parts of the world, it’s yet to pick up steam in Africa. But in countries such as South Africa and Egypt, there is a newfound surge in demand for such services. But there’s a little twist to Sympl’s offerings which the founders made in a bid to localize its product for the Egyptian market.

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TradeDepot raises $110M from IFC, Novastar to extend BNPL service to merchants across Africa

TechCrunch

Startups digitizing B2B e-commerce and retail in Africa continue to grab the headlines after the pandemic paved the way for widespread offline retail and commerce disruption. The BNPL offering is embedded within the company’s ShopTopUp platform, where retailers can access a credit line for all consumer goods on the application.

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Nigerian digital freight provider MVX lands $1.3M to help shippers move cargoes faster

TechCrunch

In Africa, chartering vessels and processing ocean freight can be challenging. Merchants also struggle to access finance to perform cross-border trade in the continent. And also, we see a huge potential in the offline market. Right now, the reason why we have this problem is that transactions are offline.

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Rensource-spinoff Sabi closes $6M bridge round, expands B2B retail platform outside Nigeria

TechCrunch

Most of these businesses operated offline until a few years ago when startups brought about digitization by providing infrastructure and a gamut of e-commerce and financial services. Sabi is an attempt at platforming the informal sector and African trade via various online and offline channels.

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Nigerian restaurant management platform Orda gets $1.1M, wants to be the Toast of Africa

TechCrunch

While big restaurants and restaurant chains are often capable of setting their management systems or using well-known point-of-sale providers, thousands of smaller restaurants in Africa rely on offline methods such as pen and paper to produce receipts and make reconciliations. 30,000) monthly to access its software.

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Fintechs in Africa continue to overshadow all other startups in funding gained

TechCrunch

Innovations around mobile money and digital payments have allowed for the processing of payments online and offline through USSD or STK commands, over apps or using NFC technology. Mobile money success across the continent is likely due to ease in access brought by advancements in telecommunications technology.

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