TechCrunch

AUGUST 23, 2021

Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. This news comes three months after The Information reported that the company was in talks to raise “up to $400 million at a $1.5

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TechCrunch

JANUARY 13, 2022

that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 And in the next two years, Fintech Farm plans to enter eight emerging markets spread across Africa and Asia, the first of which is Nigeria. “We In terms of the credit product, we see an opportunity for a “mass credit card” in Nigeria.

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TechCrunch

MARCH 18, 2021

Challenger banks continue to make significant advances in attracting customers away from the big incumbents by providing more modern, user-friendly tools to manage their money. Kuda currently provides services for consumers to save and spend money, and it has recently introduced overdrafts (essentially revolving credit for individuals).

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TechCrunch

MAY 24, 2021

The investment comes nine months after the company raised $500,000 in pre-seed last September and two months after receiving $125,000 from YC. When we covered the company early in the year, it had already secured partnerships with more than 16 financial institutions in Nigeria. Image Credits: Mono.

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TechCrunch

FEBRUARY 1, 2022

AltSchool, which is now Altitude Learning) has raised $1 million in pre-seed funding to scale its efforts, said chief executive Adewale Yusuf to TechCrunch. Nigeria has a population of almost 200 million, with 60% under the age of 25. Nigeria’s Decagon raises millions to finance and train software engineers.

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TechCrunch

MARCH 29, 2022

India, with 32 startups, is the second-largest demographic represented in the new batch, while Nigeria is third, having delivered 18 startups. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. YC-backed Duplo raises $1.3M Location : Lagos, Nigeria.

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TechCrunch

FEBRUARY 9, 2022

Nigeria has more than 12 million registered vehicles , and approximately 90% of them are used cars that need frequent checkups to prevent recurring breakdowns. Given this number, one would expect effective vehicle maintenance to be standard in Nigeria. Part of the seed money would go into expanding this capacity.

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TechCrunch

FEBRUARY 17, 2022

Earnipay , a fintech that provides flexible and on-demand salary access to income-earners, has raised $4 million in seed financing led by early-stage venture capital firm Canaan. Since operating in beta, Earnipay has served over 20 businesses, outsourcing firms and HR solution providers in Nigeria. 500 ($1). .

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TechCrunch

AUGUST 6, 2021

As startups in Africa continue to grow and raise money at a ridiculous pace, so too will their cap tables expand. Most African startups’ bulk of VC money is from foreign investors, making it imperative for African startups to incorporate abroad, especially in the U.S. Image Credits: Raise.

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TechCrunch

DECEMBER 17, 2020

Currently operating in Kenya and Nigeria, Umba offers a digital financial service alternative to legacy African banks. Its mobile app gives customers a free checking account, free instant peer-to-peer money transfers, lending, deposits, BillPay and cash back.

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TechCrunch

MARCH 22, 2021

Sending money from the U.S. to Nigeria can be a painstaking process. For remittance platforms like Western Union, it will cost a transfer fee and take between one to five business days for money sent from a U.S. Today, another YC-backed startup, Afriex — but from the Summer 2020 batch — is raising a $1.2

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TechCrunch

SEPTEMBER 2, 2022

Kuda , the challenger bank based in Nigeria and the U.K., The company, having raised more than $90 million in total from investors such as Valar Ventures and Target Global, is also planning an expansion outside Africa to Pakistan. Kuda, the African challenger bank, raises $55M at a $500M valuation.

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TechCrunch

DECEMBER 30, 2021

African startups nearly raised $1.5 As businesses reopened globally and the pandemic drove people to adopt new habits in e-commerce, work, spending money, online delivery, and learning, venture capital into various industries was poised to increase immensely, and Africa would not be exempt. billion and $2.8 billion and $1.5

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TechCrunch

MARCH 9, 2022

Agency banking is big business in Nigeria and sub-Saharan Africa. Founded by Olaoluwa Awojoodu , the company’s agent banking platform, PayCentre Africa, is present in Nigeria, Niger, Burkina Faso, Ivory Coast and Togo. ” In Nigeria, over 42 million adults who live in rural areas lack basic banking services. .

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TechCrunch

MARCH 17, 2022

African startups raised between $4 billion to $5 billion in 2021, according to various reports. However, for all their effort and importance to the tech ecosystem, raising significant venture capital seemed elusive to startups in Africa’s digital media landscape that rely on grants and personal funding to scale.

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TechCrunch

MARCH 22, 2021

For instance, it takes days or weeks for money sent from an immigrant in the U.S. to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. However , it took a week for the friends to get their money, and they lost a considerable chunk of it to charges.

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TechCrunch

AUGUST 26, 2021

When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. According to him, starting pawaPay was to help people send and receive money internationally using mobile money. How big is mobile money in Africa?

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TechCrunch

AUGUST 15, 2022

In Nigeria alone, this industry, worth more than $200 billion, consists of over 40 million businesses of varying sizes, according to reports. Pastel , a startup in the second category which has been under the radar for more than a year, is announcing a seed raise of $5.5 million led by pan-African venture capital firm TLcom Capital.

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TechCrunch

FEBRUARY 10, 2022

Making bank transfers can be expensive for some retailers and agents; instead, they visit mobile money agents to perform transactions. Duplo doesn’t have any issues with that, as retailers can still make transactions to these same virtual accounts via the mobile money agents; reconciliation is carried out after that. .

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TechCrunch

NOVEMBER 25, 2021

One-year-old Sabi — a spinoff from Rensource , an African energy company that offers power-as-a-service to customers — is the latest startup to raise funds to serve the informal sector. The company confirmed to TechCrunch that it has raised a $6 million bridge round led by pan-African VC firm CRE Ventures.

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TechCrunch

AUGUST 29, 2022

In the latest development, Grey , a fintech in this category that provides virtual international bank accounts to African freelancers and remote workers, is announcing that it has raised $2 million in seed funding. Last year, the startup raised an undisclosed pre-seed investment and got accepted into YC’s winter batch this March.

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TechCrunch

MARCH 19, 2021

“Many of these businesses we started engaging said they required tools to effectively communicate and verify customers because they were losing money at those points. But how does it make money? You’ll hear first-hand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios.

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TechCrunch

NOVEMBER 3, 2021

Nigeria’s lending startup Payhippo has raised $3 million in a seed round, funding the company plans to use in sourcing the talent needed to optimize its technology as it ramps up effort to extend speedy credit to more small and medium-sized enterprises (SMEs) in the West African country. . Others include Carbon and FairMoney.

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Beneblog: Technology Meets Society

MARCH 8, 2017

Until it quickly became a classic advance fee scam conversation (originally made famous by folks in Nigeria with faxes). Bottom-line: If a sophisticated state actor really wants your data, they have a lot of ways to get it, and probably will The whole point of crypto and security is to raise the cost of breaking into your data.

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TechCrunch

MARCH 18, 2021

In February, London-listed telecom, Airtel Africa , said it was looking to sell a minority stake in its mobile money business in a bid to raise cash and sell off some assets. The investment will see the mobile money business — Airtel Mobile Commerce BV (AMC BV) — valued at $2.65 million and 9.7% ARPU growth.

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TechCrunch

APRIL 18, 2022

Zambian card issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global. Nigeria is one such market where per Statista , local labels such as Verve, the largest domestic card scheme developed by unicorn fintech Interswitch, control more than half of the market.

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TechCrunch

MARCH 2, 2022

Sudo Africa , a fintech that provides a card-issuing API for developers and businesses in Nigeria, has raised $3.7 At some point, we wanted to issue cards and worked with one of the local banks in Nigeria,” said CEO Bakori. million in pre-seed funding. San Francisco-based Global Founders Capital (GFC) led the round.

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TechCrunch

APRIL 13, 2022

There’s no shortage of digital banks in Nigeria and, in general, in Africa. In the latest development, Umba , a digital banking platform operating in Lagos, Nigeria, has raised $15 million in Series A funding. The news comes almost two years since the fintech raised a seed round of $2 million. million to date.

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TechCrunch

OCTOBER 11, 2021

Mono , an African startup that helps connect consumers’ bank accounts to financial applications, has raised a $15 million Series A round, the company confirmed to TechCrunch today. Nigeria’s Mono raises millions to power the internet economy in Africa. More than half of the population is either unbanked or underbanked.

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TechCrunch

JANUARY 17, 2022

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. I also remember taking money from loan sharks with ridiculous interest rates, sometimes as high as 20% a month, to meet payroll.

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TechCrunch

MARCH 15, 2021

It is nearly impossible for businesses in some African countries to receive money from PayPal. According to CEO Olugbenga ‘GB’ Agboola , this will happen via a Flutterwave integration with PayPal so merchants can add PayPal as a payment option when receiving money outside the continent. In 2017, Africa generated $16.5

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TechCrunch

FEBRUARY 13, 2022

In the latest development, Stitch — one of the prominent players building and operating these APIs in Africa — confirmed to TechCrunch that it has raised $21 million in Series A funding. In total, Stitch has raised $27 million to date. We recently had a few customers go live in Nigeria, which has been very exciting for us.

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TechCrunch

NOVEMBER 10, 2021

The company confirmed to TechCrunch that it has raised $100 million in Series C financing — split between $70 million equity and $30 million debt. The London-based company connects more than 320 million mobile money wallets across 35+ African countries and 700 corridors. MFS Support Team.

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TechCrunch

FEBRUARY 3, 2022

Africa-focused payments startup PalmPay raised a $100 million Series A round last year. headquartered startup also took money from Chinese investors for its Series A round, the second largest of its kind after unicorn Wave’s $200 million. PalmPay launches in Nigeria on $40M round led by China’s Transsion.

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TechCrunch

AUGUST 17, 2021

Unbundling financial data through APIs and driving data-driven insights with value-add products in Africa keeps getting more exciting as major players continue to raise more money for scale. Other prominent startups include South African-based Stitch , and Nigeria’s Okra , Mono and OnePipe. Nigerian fintech Okra raises $3.5M

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TechCrunch

JANUARY 22, 2021

When Stripe-subsidiary Paystack raised its seed round of $1.3 million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. . But over the years, those same seed-stage rounds have become more common, with some very early-stage startups even raising eight-figure sums. “Fintech is compelling.

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TechCrunch

JUNE 22, 2022

Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021. The report says 36% of all-time funding reported by the health supply chain startups it profiled was raised in the last 12 months. So we wouldn’t expect them to be raising large sums just yet.

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