Youverify, a San Francisco-based identity verification company helping African banks and startups automate Know Your Customer (KYC) and other compliance procedures, today announced that it has secured a $1M seed round extension. After initially raising $1.5M in 2020, the Company extended the seed round, raising an additional $1M, bringing the total amount raised to $2.5M….
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Emata – the agricultural finance solution for East African farmers – announces on their LinkedIn page its successful completion of a $2.4 million seed fund raise, comprising $800,000 in equity and $1.6 million in on-lending capital. The fundraise was backed by African Renaissance Partners – the VC firm investing in entrepreneurs in East Africa and…
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M-KOPA, the fintech platform that provides digital credit to underbanked customers, today announced the release of its 2021 Impact Report. As a mission-driven company, M-KOPA’s tremendous growth is rooted in commitment to both commercial and social goals. The report presents findings on M-KOPA’s smartphone, solar and cash loan customers across Kenya, Uganda, Nigeria and Ghana. While much of…
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Pan-African embedded finance Fintech, Pezesha, has raised a pre-series A investment of $11 Million. The round was a mix of $6 million equity and $5 million debt. The funding round, which was led by Women’s World Banking Capital Partners II (WWBCP II), will see the company significantly scale operations in its core markets and grow…
M-KOPA, a leading African fintech platform, today announced the official launch of its flexible digital financing model in Ghana following a successful pilot phase. The strategic move to expand its operations makes Ghana the second West African country for the company, strengthening its Pan-African footprint to provide financial and digital inclusion for underbanked customers. The…
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Turaco, Africa’s leading tech-enabled affordable insurance company, today announced the acquisition of MicroEnsure Ghana, a pioneering microinsurance company from MIC Global. Under the deal, MicroEnsure will rebrand as Turaco Ghana and retain the expertise of the existing team and leadership. The acquisition is part of Turaco’s long-term vision to provide simple and accessible insurance to…
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In a significant move towards expanding cryptocurrency accessibility in Nigeria, Yellow Card, a pioneering African fintech company, has joined forces with MoonPay, a global leader in the cryptocurrency ecosystem. This strategic partnership aims to streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers. Nigeria has emerged as a powerhouse in…
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MyCover.ai, the insurtech startup building Africa’s digital insurance infrastructure, has announced the close of a $1.25 million pre-seed funding round, today, led by Ventures Platform. The round included participation from Founders Factory Africa and TechStars, who are making a follow-on investment after the startup’s participation in its 2022 Toronto Accelerator program. MyCover.ai will use this capital injection to bolster its…
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Apis Growth Fund II, a private equity fund managed by Apis Partners LLP (“Apis Partners”), a UK-based asset manager, today announces its proposed investment of €29M (US$31M) in Baobab Payments GmbH (trading as Peach Payments), a rapidly growing digital payment service provider that enables online payments in Africa. Completion of the investment is subject to…
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Finastra, a global provider of financial software applications and marketplaces, and Modefin, a global fintech solution provider helping banks to thrive in the digital age, announced their partnership to offer Finastra’s Fusion Trade Innovation and Fusion Essence solutions to banks in Africa and several Indian subcontinent markets. With Finastra’s solutions, Modefin will help its customers embrace open finance today…
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