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Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. The $170 million raised so far came from mainly Chinese investors who have collectively begun to bet big on African startups over the past few years.
Today, the unified payments app is announcing that it has raised $32.8 At the time, the Ghanaian fintech was raising $8 million–a large seed in its own right–and had acquired just a little over 200,000 users with transactions reaching $250 million. million in an oversubscribed seed round.
The fintech which provides credit lines for businesses has raised $17 million, funding that it will be using to bolster its offerings and expand geographically. The seed round was a mix of $7 million equity and $10 million debt.
We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. This time, a startup from Africa has joined the party. TymeBank , a South African digital bank, announced today that it has secured an R1.6 “The establishments of digital banks in SouthAfrica is in its infancy.
When companies create digital payments-facing solutions for African countries outside Nigeria and SouthAfrica, building around mobile money is key. Barnwell tells TechCrunch that although these transaction volumes look impressive, pawaPay would have done more if not for regulatory hurdles and licensing approaches in each market. .
“This round was the first time we raised with most of the previous round still in the bank, despite the pressures of COVID,” he said. billion after raising just over $100 million. France, SouthAfrica and Nigeria. “This shows the frugality of the company. billion ($4.3
The pandemic has seen such platforms scale globally, and Africa is not exempt. A new platform (without a name yet) is launching out of SouthAfrica and it wants to provide accessible quality care for Africans with its telehealth service. will generate revenue off license fees earned.” has no intention of expanding.
The new funding brings the total seed amount raised by the startup to $7 million. Kwara, which also has a presence in SouthAfrica and the Philippines, has grown its clientele base to 120 from 50 at the end of 2021, maintaining a 100% customer retention — a proof of the value it delivers to its clients.
Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets. To bolster its efforts, it has also raised $1.6 That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I
Kukua , a Nairobi- and London-based educational entertainment company and the creators of “ Super Sema ,” the first African animated superhero franchise, has raised $6 million in its latest round of investment. So, we thought this was a much-needed space, not only for kids in Africa but globally. The company raised $2.5
In Africa, one startup is carving a niche for itself. The company, based in SouthAfrica, has raised $3 million in seed funding to scale outside Africa and build the infrastructure for the digital insurance economy. However, it also powers affinity insurance players; some of the largest in SouthAfrica actually.
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. In that time, NALA built a mobile money service in East Africa and scaled it to more than 250,000 users. and the E.U., country, probably France.”.
The general perception of insurance on the continent has been bland for years, and its penetration rate, except SouthAfrica, is subpar. Per a McKinsey study in 2018, Africa’s insurance market stood at a 3% penetration rate; with SouthAfrica excluded, it was 1.12%. In the news today is one such company: Casava.
The average penetration rate for insurance in Africa is between 3% to 5%. SouthAfrica makes up a large bulk of it; without it, the continent is on a 1% to 2% rate even with other developed technology and financial markets like Kenya, Nigeria and Egypt. Life after YC has been great for Amenli.
The startup has raised $4 million in a seed round to build a neobank app that will enable individuals to sign-up with their preferred credit unions to access various financial services. “We Kwara has over the last year entered SouthAfrica and Philippines, as the demand for its services grew beyond Kenya. last year to reach $5.6
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. Then in August, the Central Bank of Nigeria (CBN) accused them of operating without licenses as asset management companies and “utilizing F.X.
The Taipei-headquartered company announced today it has raised $17 million in pre-Series A funding led by CDIB Capital Group. Part of the new round will be use to apply for financial licenses in Singapore, Hong Kong and SouthAfrica, and partner with banks and financial institutions, like payment gateways. “We
Founded in 2013 by Rockson , Daniel Shoukimas and James Finucane , mPharma is one of the well-funded startups across Africaraising over $50 million since inception, this includes a Series C round of $17 million, led by UK’s development arm CDC Group, it received last year.
We’re not a manufacturer of drivers, we just defend the technology and we license it,” explains Mattias Scheek, CEO at Mayht. There are two people who formerly worked at Philips in the licensing department. One of them actually led the licensing department and made that side of Philips a huge business.
One: organizing immigrant women, mostly Latinas, who are working as domestic workers cleaning the houses and raising the kids, mostly of rich folks. At the end of the negotiation, the family raised her pay to 14 dollars an hour. In the last couple of years, we've begun two new organizing projects.
And as g amers in sub-Saharan Africa increase to more than 180 million in the next five years, per a report, s tartups such as SouthAfrica-based Carry1st are strategically positioning themselves for this successive growth phase in the industry. Image Credits: Carry1st.
He has weighed in on elections in Germany on behalf of a far-right party, sparred with the government of his native SouthAfrica, and called for the removal of the president of Ukraine , not to mention the two-month siege he has waged against Americas federal bureaucracy. But one country tends to get a pass from the worlds richest man.
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