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Tanzanian fintech NALA raises $10M seed to build Revolut for Africa

TechCrunch

The business opportunity for remittance is lucrative despite digital lenders vying for less than 20% of the international money market dominated by traditional offline players. O ther players in the space facilitating transfer from the U.K. to Tanzania, Kenya, Uganda, Rwanda and Ghana. Whether that’ll happen remains to be seen.

Africa 98
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Stax gets $2.2M for its app that lets Africans make transactions via automated USSD codes

TechCrunch

In a market where internet-enabled app-based banking can reach 300 million subscribers on the continent, USSD technology, predominantly offline and used mainly by feature phones, outpaces it with 850 million connections. And so what we’re doing is building for them, because despite having a smartphone, they want to be offline.

Kenya 82
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Mono, a startup that wants to build Plaid for Africa, gets backing from Y Combinator

TechCrunch

After leaving the Stripe-owned company in 2019, he launched a data startup called Voyance where Singh, who had already exited one of his products — Transferpay.ng , an offline payments startup — was a software engineer. Stripe acquires Nigeria’s Paystack for $200M+ to expand into the African continent.

Africa 108
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Joitske Hulsebosch: Blogs, NGOs, and Developing Countries

Beth's Blog: How Nonprofits Can Use Social Media

Joitske Hulsebosch, who lives and works in Netherlands, writes a blog called " Communities of practice for development " where she writes about topics related to her work of facilitating processes at different levels; teams, groups, organizations, networks, and communities of practice. PersonallyI see a huge potential for web2.0

Develop 50
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YC W22 batch nets 24 African startups, including 18 from Nigeria

TechCrunch

Ghana’s Float initially launched as Brex for Africa but later pivoted to offering the same credit features with more emphasis on software and less on cards; Boya, on the other hand, plans to execute on both fronts using overdrafts. Location: Accra, Ghana. What it says it does : Vendy enables offline payments in Africa. .

Nigeria 91
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Nigerian blockchain payments startup Bitmama closes $2M pre-seed as it scales to new markets

TechCrunch

and Nigeria-based company, which has built a distributed remote team across Nigeria, Ghana and Kenya, says it’s working to democratize Africa’s highly fragmented payment system by leveraging blockchain-based solutions. For instance, we were the first to launch QR codes for offline onboarding.

Africa 145