Egyptian fintech Flash raises $6 million seed round
Flash, Egypt’s new cashless payments app, has raised $6 million seed round to accelerate its product development and customer and business acquisition in the country. The round was led by Addition with participation from fintech venture capital firm Flourish Ventures and other strategic angel investors. Flash has also obtained approval from the Central Bank of Egypt in…
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The Bank of Tanzania grants license to DPO Pay
Leading African digital payments provider, DPO Pay, registered under One Payment Tanzania Limited, has received approval from the Bank of Tanzania to operate as a Payment Service Provider (PSP) in the country. The National Payment System Act, 2015 requires all PSPs to undergo a rigorous license application process to provide payment services in Tanzania. DPO…
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Moove Closes $8mn Financing from Absa
Moove, the world’s first mobility fintech, has secured USD $8mn in financing from Absa Corporate and Investment Banking (CIB), bringing its total funding to-date from the bank to USD $28mn. This follows Moove’s USD $20mn financing facility from Absa for its South Africa operations announced in June 2022. The new funding will play a crucial…
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AZA Finance Launches New Payout Corridors to Empower Businesses in Emerging Markets
AZA Finance, an African fintech company, is a global leader specialising in providing secure and efficient financial infrastructure for payments, foreign exchange, and treasury services. The company recently announced the continued diversification of its global offering by expanding into new corridors in key strategic frontier markets. This expansion includes the introduction of new payout corridors…
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Tyme raises $77.8m to fuel global expansion
Tyme, one of the fastest growing digital banking groups in the world, has successfully raised $77.8m from Norrsken22 and Blue Earth Capital. The two new investors have come on-board as part of its pre-Series C capital raise. This comes as the group’s South African flagship, TymeBank, celebrates its 7 million customer milestone this month (12…
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Nigeria’s SEC Grants Volition Cap License to Kickstart Fund Management
Volition Cap, an asset management company empowering the hardworking middle-class to create wealth, announced today that it has secured a fund management license from the Nigerian Securities and Exchange Commission (SEC), as of December 2022. This license allows the company to operate as a registered fund manager in Nigeria, as it prepares to launch a…
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Figorr raises $1.5 million seed funding to support data-driven insurance for perishable goods in Africa
Gricd, a technology company that develops Internet of Things-powered solutions to support the last-mile delivery of perishable goods, has secured $1.5 million in a seed funding round led by Atlantica Ventures, with participation from Vested World, Jaza Rift and Katapult, to expand across Africa and deliver new solutions that will make it easier to insure…
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M-KOPA raises $250m to scale high-impact consumer fintech across Africa
M-KOPA, a leading fintech platform, today announced it successfully closed over $250m in new debt and equity funding to expand its financial services offering to underbanked consumers across Sub-Saharan Africa. This marks one of the largest combined debt and equity raises in the African tech sector, enabling M-KOPA to continue its rapid growth. Over $200m…
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Nigerian FinTech Touch And Pay Launches New Booking Solution
Touch and Pay Technologies [TAP], a Nigerian fintech company and leading processor of micro-transactions in Africa, has announced the democratization of interstate travel from Nigeria’s largest city, Lagos, to other parts of the country. It is now possible for passengers to pay for their trips using the Cowry app, even if they are travelling through…
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Opportunik Global Fund Set to Break Barriers Through Its African and Diasporan-Focused Investment Fund
Opportunik, a private wealth fund giving Africans and Diasporans access to global investments, announced that it will launch its licensed fund on the 2nd of May 2023. Administered by Accuvise Administrators Limited, a registered fund administrator based in Mauritius, Opportunik Global Fund [OGF] will present a diverse mix of asset classes enabling investors to create…
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