Nigerian fintech startup Pivo raises $2m seed round to expand product offerings
Nigerian fintech startup Pivo has successfully concluded a seed funding round, securing US$2 million. This significant investment will be utilized to enhance their existing products and develop new solutions that revolutionize transaction management and payment reconciliation within supply chains. Founded by duo Ijeoma Akwiwu and Nkiru Amadi-Emina in July 2021, Pivo has already made waves…
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Nigerian money app Kuda launches in the UK
Nigerian money app Kuda, announced it is launching in the UK as part of a global expansion drive with a view to serving the cross-border transfer needs of UK-based Nigerians. The company will charge a flat fee of £3 per transfer to a limit of £10,000. Kuda compares this to the average fee of 8%... Read Article →
Modus launches $75 million Africa-focused fund
Modus, a Venture Platform operating in MENA comprising VC funds, Venture Builders, and a Corporate Innovation arm, has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups powered by AI and Blockchain technologies. The fund is led by two General Partners – Vianney Mathonnet and…
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African tech leaders and investors connect at London Stock Exchange for the 6th Africa Tech Summit London
African tech leaders, corporates and investors will connect at the London Stock Exchange for the sixth edition of Africa Tech Summit London (ATS), taking place on November 24th. The annual Summit will share insights from leading industry players including; London Stock Exchange, DLA Piper, Alerzo, Deimos, Niji Oni & Co., Cellulant, Paystack, GIZ, Smile Identity, Verto, Flex…
QoreID: Consumer Data, Bedrock of Africa’s Open Finance System
According to QoreID, access to credible consumer data has been identified as a critical layer that will enable a viable open finance system in Africa. Sarah Essien, Chief Operating Officer of VerifyMe Nigeria, a digital identity and Know-Your-Customer (KYC) technology company with a head office in Lagos, states that the quest for a sustainable open…
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Data Mynt and Alibaba Cloud Partner to Accelerate Crypto Adoption
The partnership includes three parts: first, enabling Alibaba Cloud customers to pay for their Cloud services using Data Mynt’s crypto as currency option; second, listing and selling Data Mynt services to Cloud customers on Alibaba Cloud International Marketplace; and third, bringing advanced, secure and reliable cloud and web3.0 services and technologies to businesses in Africa,…
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Finastra and Modefin partner to provide best-in-class fintech solutions
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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Quona Capital announces $332M fintech venture fund
Emerging markets venture capital firm Quona Capital today announced the final close of its Fund III at $332 million, significantly exceeding its $250 million target. This is the third fund from Quona Capital since its inception, bringing the firm’s aggregate committed capital to over $745 million. Quona focuses its investments on innovative technology companies that are expanding…
Payhippo acquires Nigeria’s Maritime Microfinance Bank
Payhippo, Nigeria’s credit-led SME fintech, has acquired Maritime Microfinance Bank (MFB), a financial institution specializing in saving products, demand deposits, and investments as well as micro and SME loans. The acquisition is pending approval from the Central Bank of Nigeria and both parties are working together to obtain the regulator’s approval. This will also enable…
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MoneyFellows Raises $31 Million in Series B first closing
MoneyFellows, an Egyptian fintech platform has announced the first close of its Series B round with a $31 million investment led by CommerzVentures, Middle East Venture Partners (“MEVP”), and Arzan Venture Capital. Invenfin, National Investment Company (“NIC”) as well as existing investors such as Partech, Sawari Ventures, 4DX and P1Ventures also participated in the round….
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