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Global financial transactions are facilitated mainly by payment processors such as Visa or Mastercard. Today, the unified payments app is announcing that it has raised $32.8 I was blown away by the ubiquity and convenience of mobile money in 2014 when I visited Kenya for the first time. Africa has it different.
The company, which enables underbanked customers in select African markets to access a broad range of products and services without collateral or a guarantor, announced today that it has raised $75 million. M-KOPA’s total equity raise stands at $190 million.
The public transport sector in Kenya is largely traditional and a majority of operators, especially those in road travel, still require their clients to physically book tickets at their offices even when making advance travel plans. BuuPass raises $1.3M Others do not have provisions for seat reservation.
The provision of virtual foreign bank accounts has become a common strategy for fintechs to enable Nigerians and Africans to facilitate international transfers. Last year, the startup raised an undisclosed pre-seed investment and got accepted into YC’s winter batch this March.
Finclusion Group , a fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products, has raised $20 million in debt and equity pre-Series A financing. It follows the $20 million debt facility supplied by emerging markets debt provider Lendable last September.
NALA , a Tanzanian cross-border payments company that recently pivoted from local to international money transfers, said Thursday it has raised $10 million in a new fundraising round. to East African countries (Kenya, Uganda and Tanzania), thus ushering the Tanzanian fintech into the remittance business. and the E.U.,
African startups nearly raised $1.5 Predictions were made on how much the continent’s startups would raise in December. 2021 was when African tech reached an inflection point and took center stage as companies raised over $4 billion (more than they got in 2019 and 2020 combined). It wasn’t a bad year, though. billion and $2.8
With a focus on Kenya, Nigeria, South Africa, Mexico and India, selected startups receive £80,000 (~$100,000) in grant capital, six months of support and connections with follow-on investors. However, the selected six startups this year are from Kenya, Nigeria, and South Africa. Here are the startups in the 8th cohort.
Coming off a year of exponential growth, it has raised a $48 million Series B to provide more alternative payment solutions to its millions of merchants and consumers. At the time, most fintechs and banks did not recognize the need for using bank payments to facilitate online transactions. Since the company’s Series A raise of $2.5
The company claims to be handling over 10 million transactions on its rails per week, with beta operations in 10 African countries — Cameroon, DRC, Ghana, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda, and Zambia. But in terms of pure mobile money play, MFS Africa is a clear competitor to pawaPay. PawaPay isn’t far off.
Chipper Cash , an African cross-border payments company, has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. In May, it expanded to the U.K.,
The new changes imply that Sendy will abandon its asset-heavy model that facilitated order fulfillment from parcel pickup, warehousing to last-mile delivery in Nigeria. Sendy has so far raised $26.5 Its fulfillment service remains unchanged in other markets.
The company confirmed to TechCrunch that it has raised $100 million in Series C financing — split between $70 million equity and $30 million debt. He started the company in 2009, facilitating peer-to-peer transactions from Kenya to Zambia, Uganda, Zimbabwe and the Ivory Coast, and vice versa. MFS Africa leads $2.3M
This makes it the largest round raised by any API fintech startup in Africa at the moment. They have raised sizeable rounds with enviable backings as well. Pngme says it’s operating in Nigeria and Kenya, while Stitch is only in South Africa. Africa’s financial infrastructure space is heating up.
Today, Cairo-based B2B e-commerce startup Capiter continues that trend by raising a $33 million Series A round. Quona Capital, the co-lead investor in this round, is known to have made some B2B e-commerce bets over the past years, for instance, Kenya’s Sokowatch. The investment was co-led by Quona Capital and MSA Capital.
The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express (AMEX) Ventures, the strategic investment group of American Express. The platform will go live in Kenya in the next couple of months, said Anuna.
Last March, the Ghana-founded and New York–headquartered Dash raised $32.8 Before raising over $30 million, Dash initially wanted to raise a quarter of that money, about $8 million, as its seed round. Ghanaian fintech Dash raises $32.8M Kinyua assumes the role of interim CEO.
Charles Hoskinson, the co-founder of IOG and Cardano, while commenting on their investment in Pezesha, said in a statement that, “Facilitating the movement of capital into emerging markets to support economic growth and job creation is a core promise of blockchain and cryptocurrencies.
Last November, the African cross-border payments company raised $150 million in a Series C extension round led by Sam Bankman-Fried’s now-defunct cryptocurrency exchange platform FTX. Since its inception, Chipper Cash has raised over $305 million from investors including Deciens Capital, Ribbit Capital and Bezos Expeditions.
We are building a trust network that, for example, allows a company in Kenya to know who to work with in a country like Nigeria, South Africa. In his two years as a Kountable executive, he says, they financed $32 million worth of deals, supporting 200 entrepreneurs in several countries including Kenya and Rwanda.
Duplo , a B2B payments startup that solves these issues by enabling African enterprises to collect payments from their clients and partners and make payments to their suppliers and vendors, has raised $4.3 YC-backed Duplo raises $1.3M Duplo said it currently facilitates payments from merchants in Nigeria to other regions like the U.S.,
Stax , a startup that allows Africans to buy airtime, send and request money, and transfer funds between accounts via automated USSD codes, has raised a $2.2 Telcos and banks dominate this mass market, providing the tech infrastructure that facilitates these code-based transactions. Nigeria and Kenya.
The Origin of Shower Strike In 2010, founder Sarah Evans visited Kenya and saw the devastating effects of dirty water. Moved to action, she and a friend pledged not to shower until they raised enough money to build a well. This bold move sparked the first Shower Strike, now an annual event raising awareness and funds for clean water.
Klasha , a Lagos and San Francisco-based startup, sees a niche in cross-border commerce and provides multiple integrations and APIs to facilitate transactions in that space. Today, it has raised $2.4 Next is its mobile application which lets users in Nigeria, Ghana or Kenya send and receive money. million in seed to scale.
A little less aspiration, a little more traction, please: Show me the money : In a world where $90 million can go missing for a few weeks because of a bug, Streamlined raised $4 million to take on B2B payments. Muéstrame el dinero : Minka raised $24 million to facilitate faster payment services across Latin America. and Canada.
This nonprofit social arm of the juggernaut game developer has helped to raise more than $7 million for charities through FarmVille 24 million users alone. In Philanthropy. Zynga.org ( [link] ) was created with the mission to use games to help those in need. Around Gender.
With a presence in six African countries — Nigeria, Ghana, Senegal, Liberia, Kenya and Uganda — Helium Health has signed more than 500 healthcare facilities. Nigeria’s Helium Health raises $10M Series A for Africa expansion. Over 7,000 medical professionals from these facilities now provide care to more than 300,000 patients monthly.
Based in Singapore and San Francisco, Thunes is backed by investors including Insight Partners, GGV and Checkout.com, and has raised $130 million in funding to date. This enables many more consumers and small businesses to send funds to markets in Africa, Asia and Latin America, where digital wallets are often the default payment method.
Jumo has been raising $2 million in funding from individuals and foundations. By November 2010, Jumo noted in a New York Times article that they’ve raised $3.5 “We saw on the Obama campaign you’ve got to combine content and technology to facilitate action. Argentina, France, India, or Kenya?&# Chris Hughes.
It also has a track that takes place in a large room with roundtables and a designated discussion topic and facilitator. I was asked to facilitate a session on the question, "Should CEOs and Executive Directors Use Social Media?". The NASSCOM India Leadership Forum has multiple tracks based on theme.
Chris Hughes Jumo has been raising $2 million in funding from individuals and foundations. By November 2010, Jumo noted in a New York Times article that they’ve raised $3.5 “We saw on the Obama campaign you’ve got to combine content and technology to facilitate action. Argentina, France, India, or Kenya?&#
Location : Nairobi, Kenya. YC-backed Duplo raises $1.3M Location : Nairobi, Kenya. ” Founders : CEO Anthony Wagacha, George Mbuthia and Lione Alushula have combined experience at Bank of America Merrill Lynch, KPMG, Microsoft and Central Bank of Kenya. Website : [link]. Founded in : 2021. Team size : 10.
Expressing their emotions so openly was a new and uneasy task, but with the help of a wonderful facilitator, Conso Buzabo , they intuitively shared their compassionate connections through simple art making. She then went on to hold several Traveling Postcards workshops both in her own community, and then in Kenya!
Erickson founded FORGE (Facilitating Opportunities for Refugee Growth and Empowerment) in 2003 when she was a 20 year-old junior studying public policy at Stanford University. They can facilitate that change or create the structures to help that along. Kjerstin Erickson is one of those people "shiny" people who lights up a room.
While Nigeria and Kenya have been at the forefront of African fintech innovation, activities in Egypt are beginning to shape up nicely. In July 2020, Paymob raised $3.5 In July 2020, Paymob raised $3.5 An additional $15 million was raised from the same investors led by Dubai-based VC firm Global Ventures.
Dining for Women is a seven-year-old organization that facilitates a network of 130 giving circles across the country. Can you give an example of, "This month the charity was this and those circles combined raised x amount?" They're raising about $500 a month just from their email newsletters to their friends. It was wonderful.
raised more money from venture capitalists in 2021 than ever. On the bright side, founding teams counting both women and men as members raised 17% of VC investments in Africa in 2021. Women-founded startups in Africa to have raised $100 million or more are led mainly by white CEOs. Women-founded companies in the U.S.
Ushahidi Board Meeting at iHub in Kenya. I’ve just spent the last couple of days in Nairobi, Kenya because I’m a board member of an NGO based here, Ushahidi , an organization that builds tools for democratizing information and increasing transparency. The Networked Nonprofit In Kenya. Response was laughter).
Lami Technologies , a startup out of Kenya armed with $1.8 For this reason, CEO Jihan Abass founded the company in 2018 to democratize insurance products in Kenya. Kenyan insurtech startup Pula raises $6M Series A to derisk smallholder farmers across Africa. million in seed money, is looking to change that.
Countries such as Nigeria, Kenya and South Africa are majorly responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth. In the latest development, one such company, Bitmama , has raised a pre-seed extension of $1.65
Autochek was previously present in Nigeria, Ghana, Kenya, Ivory Coast, Uganda and Morocco. The company earns by charging a fee to dealers listing on its platforms, in addition to a loan facilitation commission from banks. The company, which in October last year raised $13.1 Autochek said its loans are approved in about 48 hours.
Right from the launch of its first product in 2020, Kenyan insurtech Lami Technologies set out to increase insurance penetration in Kenya and the rest of Africa. million seed extension raised in a round led by Harlem Capital — which invests in minority and women founders. million seed funding the insurtech raised last year.
.” Using a webinar and conference call platform, we were able to bring in participants from San Francisco, Rwanda, Kenya, Algeria, Tunisia, and Egypt. This is a common experience when you attempt to facilitate global presentations, discussions or peer groups. Originally from Kenya, she earned a B.A.
Following two years of significant growth and raising $2.4 million to facilitate it, the investment firm is announcing that it has raised $15 million in a new financing round. Similarly, there has been some demand from Kenya and South Africa, so Bamboo will look to move into those countries soon with this new funding.
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