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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%...

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…

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…

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,…

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…

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…

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….

Peach Payments & Stitch partner to launch Instant EFT across South Africa

Original article, by Thea Sokolowski, Head of Marketing & Communications​ South Africa-based digital payments gateway Peach Payments and API fintech Stitch have partnered to enable online merchants across South Africa to accept secure, low-cost instant EFT payments. The payment method is available to all Peach Payments merchants, on any integration platform, as ‘Instant EFT by Peach Payments’ and is…

EMURGO Invests in Momint to Expand Adoption of NFTs in Africa

Adaverse, an EMURGO-backed Web3 accelerator focused on Cardano ecosystem adoption in Africa, recently announced its investment in Momint, a Web3 marketplace that makes investing in crypto and NFTs easy for users of all skill levels. Adaverse joined Momint’s highly competitive seed round alongside Outlier Ventures, Mountain Partners, Rob Hersov, and simple.Capital. Adaverse was launched in September…

Yellow Card Receives First-Ever African Crypto Licence

Yellow Card has made another significant stride in the industry, becoming the first cryptocurrency company on the continent to be granted a Virtual Asset Service Provider licence to operate in Botswana. The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA] on the 29th…

Moove raises £15 million financing to scale UK operations

Moove, a mobility fintech startup providing auto financing for gig economy drivers has raised £15 million in financing to scale up its UK operations. Moove launched in London in August with a 100% EV rent-to-buy model that provides mobility entrepreneurs access to brand-new, zero-emissions vehicles for a flat weekly fee. The new financing facility from…

Deimos: Rising Cybercrime in Africa

Original article was published here. The Africa Money and Defi Summit West Africa, held in Accra, Ghana, was fundamental for us to attend. Andrew Mori, CEO, Deimos shared a presentation on “Rising Cybercrime in Africa: What is happening and what to do about it.” Andrew started his presentation by quoting a hack at one of the biggest software…

Cellulant joins forces with Lusaka Chamber of Commerce to digitize payments

Press Release by Cellulant. Cellulant Zambia has signed a Memorandum of Understanding (MoU) with the Lusaka Chamber of Commerce and Industry (LCCI) to offer digital payments to its member businesses. Lusaka Chamber of Commerce members can now readily access payment solutions that will enable them to accept payments from their customers’ preferred mobile money wallet….

Seclore and TFG partner to grow Africa’s cybersecurity market

Seclore, a platform in data-centric security, announced that it has signed a strategic partnership with Tech First Gulf (TFG), an IT infrastructure and Cybersecurity Value Add Distributor, to deliver digital asset protection for Africa’s businesses. The move comes against a backdrop of steadily rising cases of cyber threats and attacks that, according to a report…

Nigerian BaaS Fintech Maplerad, Raises $6 Million Seed Funding

Nigerian Banking as a Service (BaaS) startup, Maplerad announced that it has raised $6 million in a seed funding round led by Peter Thiel’s Valar Ventures. Other participants in the round include Golden Palm Investments Corporation, Michael Vaughn (ex-COO, Venmo), Fintech Fund, Babs Ogundeyi (CEO, Kuda) Armyn Capital, Dunbar Capital, Strawhat Investment, Polymath Capital, Unpopular Ventures, Sean…

One Finance launches integrated consumer financing services in Egypt

One Finance – the Integrated Consumer Financing Platform  – announced the launch of its services in the Egyptian market with an issued and paid capital worth EGP 100 million. For the first time in Egypt, the company introduces an innovative buy now pay later business model by creating an integrated consumer financing platform that fulfills…

NALA enables Apple Pay payments from the UK and US into Africa

Original article by TechCabal. Last week, TechCabal reported that NALA, a Tanzanian-born fintech startup with a growing dominance in East Africa, made a pioneering move in Africa’s fintech space by enabling its African diaspora users to make local payments directly. Now, the fintech has announced another breakthrough for its customers: They can now make payments from the…

Bitpowr at the Africa Money and DeFi Summit

Click here to read the original Article by Bitpowr. The Bitpowr team was at the Africa Money and DeFi Summit in Ghana last week, from the 27th-28th of September, 2022. About the Summit The aim of the summit was to connect Africa fintech leaders, global venture  platforms and thought leaders across Africa and beyond to…

FlapKap Closes $3.6M Seed Round

FlapKap, a tech-enabled revenue-based financing platform in the MENA region, revolutionising e-commerce growth, announced the close of its $3.6M seed round. The round included participation from Bolt by QED,  Nclude, Outliers, and A15. This latest capital injection comes six months after the company’s pre-seed raise and coincides with the company recording significant milestones of an MoM…

Tugende closes pre-Series B funding raising a total USD 10 million

Tugende, the innovative fintech platform for MSME credit and asset-financing in East Africa, closed in Q2 pre-Series B equity funding from existing shareholders led by Partech and two new investors, including Women’s World Banking. The new investors add to the diversity of Tugende’s shareholding and complement the experience and skills that each contribute to Tugende’s growth….

Geidea Partners with Visa to accelerate digital payments across Egypt

Geidea, one of the region’s largest Fintech companies by market share, has announced a strategic partnership with Visa, the world leader in digital payments, to bring Geidea’s sophisticated payment solutions to the Egyptian market. Under the strategic partnership, Visa will invest in adding new payment solutions through Geidea’s Point-Of-Sale terminals, to provide seamless and secure…

Hela.money, Africa’s Neo Crypto Banking Platform & DeFi Wallet

Hela Money, an African Crypto Neo Bank, and DeFi wallet, is bridging the gap in Africa between the traditional finance and decentralized finance ecosystem by developing an all-in-one blockchain platform that seamlessly handles financial needs such as payments, neobanking, tokenization, decentralized finance, wealth management and more. Over 400 million Africans are not only underbanked but…

Lipa Later Announces Partnership with Lami Technologies

Lipa Later Group, a buy now, pay later (BNPL) company today announced a partnership with Lami Technologies, an insurance technology company, that will offer its consumers access to reliable and affordable insurance against all products purchased using the Lipa Later platform. Founded in 2017, Lipa Later is a trusted BNPL company operating in Kenya, Rwanda,…

Photos from Africa Money & DeFi Summit 2022

Here are some highlights of the Africa Money & DeFi Summit West Africa edition that took place in Ghana on the 27th and 28th of September.  

HammerPay Announces New Digital Fintech Platform coming to Africa

Hammer Technology Holdings, HMMR, recently announced that its flagship Fintech subsidiary, HammerPay, set to debut in Q4 2022, will launch a new mobile phone and web portal private digital e-wallet platform for market deployment in Africa. Powered by HammerPay, the Remittance Service Deliver Platform (RSDP) with its private digital e-wallet service will help banks, wallet…

Pennee: Is it good business to lend to Nigerian SMEs?

According to Pennee, access to funding seems to be the most difficult of running a small and medium-scale enterprise (SME) in Nigeria, even when the funds are available the interest rates are usually high. “There are a lot of opportunities on the continent [Africa] but capital is very difficult to come by.” — Tony Elumelu…

Flutterwave Enables Google Pay for African Businesses

 Flutterwave, Africa’s leading payments technology company, has announced Google Pay, a mobile payment service developed by Google, as a payment option for their clients.  As part of this collaboration, Google Pay will be an additional payment option for merchants on Flutterwave for business. This collaboration will offer safe and seamless payments, as well as convenient…

Autochek joins Africa Money & Defi Summit, Ghana 2022

Launched in 2020, Autochek is an automotive technology company established to build digital solutions to enhance and enable automotive commerce across Africa. The company is currently operational in East and West Africa. With the support of TLcom Capital and 4DX Ventures, Autochek combines technology underpinned by data analytics to deepen auto finance penetration across the continent. Powered by its…

EMTECH has partnered with SEC Ghana

EMTECH, an award-winning software company and first-of-its-kind provider of central banking infrastructure, has partnered with SEC Ghana to deploy its API-First Digital Regulatory Sandbox Platform to streamline regulatory sandboxing and supervision of capital market innovation. The company’s cutting-edge framework enables the SEC, as well as other regulatory agencies and central banks, to collaborate with emerging…

Deimos: Authentication and Authorization in a Distributed System

Originally published here When designing and building systems that follow a service-orientated paradigm, we find that the complexity of securing the overall system and choosing a pattern for authentication can be challenging. Building a centralized monolithic system would mean that your authentication and authorization are also central, that there is one authority determining which end-users…

EMTECH Joins Africa Money and Defi Summit, Ghana 2022

Our team is distributed across the globe in countries in North America, Caribbean, Europe, Asia, and Africa. EMTECH is passionate about enabling financial inclusion by transforming financial ecosystems. Click here to learn more about EMTECH. We look forward to hearing more from the EMTECH at Africa Money and DeFi Summit later this month The Africa…

Verified.Africa a product of Seamfix joins Africa Money and Defi Summit, Ghana 2022

Africa’s tech ecosystem is pushing the boundaries of what is possible and what’s not. We’ve seen new startups offer life-changing solutions to problems and digital services are improving the way we live and work. At Verified.africa, we’re huge supporters of growth and inclusivity, so we built a platform that enables these startups to reach a…

Fonbnk joins Africa Money and Defi Summit, Ghana 2022

Fonbnk are the leading global marketplace enabling you to convert your airtime into digital money. And for a limited time, they will even pay you to try us out. Click here to learn more about Fonbnk. We look forward to hearing more from the Fonbnk team at Africa Money and DeFi Summit later this month…

Legalpreneur Consulting joins Africa Money & Defi Summit

Legalpreneur Consulting is a full service law firm located in Nigeria. We are adapted to provide uniquely innovative solutions to clients and uncover the opportunities in the changing landscape. We provide the legal advice you need for the fast-changing and inter-connected world. We work closely with our clients, both Nigerian and international to provide specialist…

AWS for Startups joins Africa Money and Defi Summit, Ghana 2022

From Airbnb to Zocdoc, the world’s top startups build on AWS. But they didn’t do it alone. So whether you’re looking for help solving a technical challenge, hiring the right engineers, or finalizing a fundraising round, we have all the resources you need to get started. There’s a reason more startups build on AWS than…

Verified.Africa is live in Ghana, South Africa and Kenya!

Two years ago, we launched Verified.Africa in Nigeria to help businesses easily verify the identity of customers, partners, and employees. The result? Over one thousand businesses were empowered to grow their customer base faster, prevent fraud and operate with better turnover. Now, with over 300 thousand verifications recorded and incredible feedback from our supportive customers,…

The Growth of DeFi In Africa – Why Are People Interested?

Article by Elisha Imagine a world where people in developing markets can get loans on demand, have access to high-yield investment opportunities, and move their money freely without restriction. That is the world decentralized finance (DeFi) companies in Africa envision, and they are building it. Over the past few years, several DeFi platforms have launched…

Mobile remittances to lead digital revolution in marginal rural areas in five African countries

To harness the development benefits of using mobile channels to send and receive remittances, the UN’s International Fund for Agricultural Development (IFAD) announced its first grant to a digital payments company, MFS Africa, to promote the use of mobile remittances in marginal rural areas in five African countries; Ghana, Kenya, Senegal, The Gambia and Uganda....

Fintech Meets Crypto In Africa

Developing markets share several problems in common. One such problem is the inability of most people to have full access or any access at all to the financial system. For example, the unbanked have no access to the traditional system, they are unable to create accounts or use the services of banks, and the underbanked…

Starbucks Taps Polygon for Its Web3 Experience

Polygon has announced a partnership with Starbucks Coffee Company to provide the blockchain technology to build its recently announced Web3 experience, Starbucks Odyssey. As a result of the partnership, this new Web3-powered experience will allow Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States to earn and purchase digital collectible stamps in the form of…

M-KOPA Unlocks $600 Million for Underbanked Customers in Africa

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…

Hedera Named to Constellation ShortList™ for Blockchain Services

The Hedera network, the most used, sustainable, enterprise-grade public ledger for the decentralized economy, has been named to the Constellation ShortList™ for Blockchain Services in Q3 2022. The technology vendors and service providers included in this program deliver critical transformation initiative requirements for early adopters and fast-follower organizations. Hedera offers a range of different DLT services that…

Niji Oni & Co. joins Africa Money and Defi Summit, Ghana 2022

Niji Oni & Co is a specialized full-service Law Firm with an amazing track record in several areas of law. We provide first-rate legal services to our clients in various sectors ranging from corporate & commercial, dispute resolution, aviation, real estate, intellectual property, telecommunication and taxation. Click here to learn more about Niji Oni &…

Jelurida joins Africa Money and Defi Summit, Ghana 2022

Jelurida is a Swiss blockchain software development company. They initially incorporated Jelurida in the Netherlands in 2016 with the objective to further develop and maintain the Nxt and Ardor blockchain platforms, to ensure the sustainability and longevity of both projects, and explore commercial opportunities based on providing public, private, and hybrid blockchain solutions. Their goal...

YouVerify joins Africa Money and Defi Summit, Ghana 2022

YouVerify envisions an Africa where every African, and African business can build economic relationships and trust without worrying about fraud or compliance difficulties. They know what it looks like at the moment, and it is their mission to change it. 'We envision an Africa where every Africans, and African businesses can build economic relationships.' Click...

Hedera joins Africa Money and Defi Summit, Ghana 2022

Hedera is a fully open source, proof-of-stake, public network and governing body for building and deploying decentralized applications. It offers developers three primary services: Solidity-based smart contracts, consensus, and token services. Hedera is unique in that it is incredibly fast, energy-efficient (carbon negative), and secure — these advantages can be attributed to its underlying hashgraph consensus algorithm (set to be open sourced in 2022). Click here...

Yellow Card joins Africa Money and Defi Summit, Ghana 2022

Yellow Card enables anyone to buy and sell cryptocurrency in emerging markets. Simply sign up, deposit your local fiat via bank transfer or cash at our many store locations and buy Bitcoin. Or, sell your crypto to us, and pick up cash at any store. With active customers in Nigeria, Botswana, South Africa, and Zimbabwe...

WiPay joins Africa Money and Defi Summit, Ghana 2022

WiPay was created in 2016 as a direct result of a persistent problem. The Caribbean faced challenges with digital payments and the lack of ‘financial inclusion' for the majority of persons. WiPay, developed a uniquely ‘inclusive’ platform that is secure, flexible and simple to use. WiPay allows anything connected to the Internet to move money quickly, safely...

Workpay joins Africa Money and Defi Summit, Ghana 2022

We’re all about efficiency and productivity at the workplace. While running our software company a few years back, the Workpay founders saw an opportunity in the people space that would enable companies in Africa to hire, manage and pay their teams efficiently. An opportunity to enable employers to handle HR, payroll and compliance across multiple...

Veend joins Africa Money and Defi Summit, Ghana 2022

The idea that gave birth to VeendHQ was sparked while building automation problems for financial institutions. They realised that the biggest problem financial institutions encounter is the inability to collect loan repayments effectively. This significantly increases the risk of running a lending business. Hence in 2021, they set out with their automation tools to provide...

Celo joins Africa Money and Defi Summit, Ghana 2022

Celo is a mobile-first open source ecosystem of technologies, organizations and individuals that share a common mission of building a financial system to create the conditions for prosperity for everyone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack (Celo Platform), a native asset (CELO), three stablecoins (cUSD, cEUR, and cREAL) and the Celo...

QoreID joins Africa Money and Defi Summit, Ghana 2022

QoreID provides an easy to integrate, trouble-free and dependable products delivered as APIs, SDKs or Workflows to help customers focus on building their business. They make it super easy for people to securely onboard and get to know their customers intimately, laying a good foundation for businesses to build products and connect with their customers...

Zeepay joins Africa Money and Defi Summit, Ghana 2022

Zeepay is the fastest growing wholly Ghanaian-owned fintech in Ghana focusing on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, Bank Accounts and Digital tokens to International Money Transfer Operators, Payments, Subscriptions, International Airtime and Refugee payments. This is an effort to promote and improve financial inclusion which in turn...

Cellulant joins Africa Money and Defi Summit, Ghana 2022

Cellulant is a leading Pan African payments company that provides locally relevant and alternative payment methods for global, regional, and local merchants. We provide a single API payments platform that enables businesses to collect payments online and offline while allowing anyone to pay from their mobile money, local and international cards or directly from their...

Bitmama raises additional $1.65 million in pre-seed funding

Blockchain payments startup, Bitmama Inc., has raised an additional $1.65 million in pre-seed funding. This brings its total funding for this round to $2 million, having raised $350,000 10 months ago. The latest round is led by Unicorn Growth Capital and Launch Africa Ventures, with participation from Adaverse and follow-on from Flori Ventures, which led...

Web 3 needs to be mobile-ready: A case for mass adoption

Article by Brian Kimotho, Chief Marketing Officer, Kotani Pay The internet as imagined by Tim Barnes in the late ’80s was a world wide web that is open, decentralized, and allowed information sharing across the globe. With this knowledge, the journey from Web 1 which was a read-only internet, Web 2, a read-and-write internet, towards...

Deimos joins Africa Money and Defi Summit, Ghana 2022

Deimos is a technology-focused company with many years of experience in custom software development, cloud-native architectures, large-scale cloud migrations, developer automation, security, and observability best practices. They are professionals that are certified and are part of teams that are geared towards delivering value to customers quickly. Their strength lies in their diversity of experience, cultures,...

NowNow Digital Systems, has closed a $13 million seed round

NowNow, a Nigerian digital system startup, has closed a $13 million seed round to scale and expand its service offerings across Africa. The funding round was led by NeoVision Ventures Ltd., DLF Family Office, and Shadi Abdulhadi. With the new funding, the startup said it will improve financial inclusivity across Africa and drive empowerment, as well…

10 ventures to showcase the exciting future of Web3, FinTech and DeFi in Africa at the upcoming Africa Money & DeFi Summit in Ghana

The Africa Money & DeFi Summit has announced the final shortlist of exciting ventures who will Pitch Live on stage in West Africa to over 400 fintech and crypto leaders, in Accra on September 27th – 28th. The West African edition of Pitch Live has attracted over 200 submissions and strives to showcase leading ventures…

AZA Finance joins Africa Money and Defi Summit, Ghana 2022

Founded in Nairobi, Kenya, in 2013, AZA Finance has grown from a currency exchange platform to a global financial services firm expert in frontier markets and currencies. They make international Payments, FX and Treasury through their web and API platforms easier and better for enterprises doing business in Africa. All directed by their expert team,…

Metaverse Magna raises $3.2M at a $30M valuation to build Africa’s largest gaming DAO

Metaverse Magna (MVM), a Nestcoin gaming DAO based in Nigeria that distributes mobile games in emerging African markets and builds developer tools for Web3 gaming, has completed a seed sale token round of $3.2 million at a $30M fully diluted value. Investors included South Korean video game developer Wemade, Japan-based blockchain-focused venture capital firm Gumi Cryptos…

Affinity joins Africa Money and Defi Summit, Ghana 2022

Founded in 2013, Affinity was established as an owner and operator of financial services companies in sub-Saharan Africa. Affinity prides itself on establishing digital-forward and branch-light financial institutions, leveraging fintech and innovative design to improve financial access and affordability. Affinity made its first investment in 2015, acquiring PayFlex in Ghana. Affinity is a full-fledged digitally-driven financial institution…

Flutterwave joins Africa Money and Defi Summit, Ghana 2022

Flutterwave is a leading technology company that enables businesses across the world to expand their operations in Africa and other emerging markets through a platform that enables cross-border transactions via one API. Flutterwave has processed over 200M transactions worth over USD $16B to date and serves more than 900,000 businesses including customers like Uber, Flywire,…

Polygon joins Africa Money and Defi Summit, Ghana 2022

Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone, and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 19,000+ decentralized applications hosted,…

VerifyMe unveils new digital Identity and consumer analytics solution for businesses

Leading identity verification and e-KYC technology company, VerifyMe Nigeria, has unveiled QoreID, a dedicated digital identity, and analytics solution for B2B.  QoreID will provide API infrastructure and data services that connect businesses to people and their information across Africa and remain a VerifyMe Nigeria company. Targeted at the medium and enterprise business segment, QoreID provides…

What Does Ethereum’s Transition to PoS Mean for Polygon

Originally published by Polygon With Ethereum’s switch to proof of stake (PoS) slated for mid-September, Polygon thought it would be appropriate to take a moment and look around, to admire how far Web3 has come. Now is a time to celebrate the builders and dreamers who’ve worked relentlessly on the margins to summon a more…

Zapper partners Stitch to offer one-click payments in South Africa

Zapper, a South African mobile payments company has partnered with payments and data API fintech Stitch (via LinkPay—a one-click payments product) to enable Zapper users to make instant electronic funds transfer (ETF) payments with a click. Zapper was one of the first players in South Africa’s mobile payments market and today enables merchants of all…

Flutterwave Secures Switching and Processing License

The Central Bank of Nigeria has granted Flutterwave, an African payments technology company a Switching and Processing License (CBN)—widely regarded as CBN’s most valuable payments processing license. This license allows Flutterwave to offer customers transaction switching and card processing services. Others include non-bank acquiring, agency banking, and payment gateway services.  The Switching and Processing license allows…

Rapid Rise of Fraud is Fuelling Interest in Liveness Detection Tech

Article by YouVerify Digital onboarding and passwordless authentication have become widely adopted, especially with the advancement of online transaction technology. However, it has also come with the downside of an increase in fraud. Despite there being KYC and AML measures, fraudsters are coming up with creative ways to beat the system, causing a rise in…

Pezesha raises Pre-series A investment of $11 Million

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…

Meta opens applications for the AR/VR Africa Metathon

Meta has announced that applications for the AR/VR Africa Metathon in partnership with Imisi 3D and BlackRhino VR are now open. The AR/VR Africa Metathon is a series of programmes and activations under the Meta global XR fund aimed at supporting African XR talents to build innovative solutions that demonstrate various use cases of the…

Liquid Intelligent Technologies expands operations to Mkushi

Liquid Intelligent Technologies, a business of Cassava Technologies in Zambia, is expanding its operations to Central Province by launching its first office in Mkushi. This launch will bring high-speed connectivity and a suite of intelligent technologies to the district for the first time. With the opening of this new branch in the country, the pan-African…

Visa launches operations in DR Congo

Visa Inc. the global payments technology company, has outlined its commitment to expanding digital payments in the Democratic Republic of Congo by establishing local business operations and working closely with the government and financial ecosystem to bring the benefits of digital payments to consumers, merchants, and partners. Visa marked the official opening of its Kinshasa…

Workpay: Hiring Remote African Teams Gives You an Advantage

original post by Workpay The world of work has tremendously changed in recent years. The COVID-19 pandemic impacted the global labour market in 2020, and although it had negative consequences in the short term, it also accelerated the disruption of technology at work. As a result, more companies are hiring teams across the world. African…

Nigeria: Pastel has raised $5.5M in its SEED round

Nigeria’s Pastel, formerly Sabi Cash, has raised $5.5M in a SEED round led by TLcom Capital with participation from Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, Ulu Ventures, Plug and Play, and SOMA Capital. Founded by Abuzar Royesh, Olamide Oladeji, and Izunna Okonkwo, Pastel is on a mission to build digital tools to…

Yellow Card announces new payment feature – Yellow Pay

Yellow Card Financial is proud to announce its new payment feature – Yellow Pay. This innovative solution will make it easier for customers to send and receive money through the Yellow Card crypto exchange platform, without any extra charges, instantly all from the comfort of their home. Oparinde Babatunde, Yellow Card Director of Operations, says one…

Africa fintech and crypto leaders to connect at the Africa Money and DeFi Summit in Ghana this September

As the rapid growth of fintech continues and the birth of decentralised finance (DeFi) grows across Africa, leading fintechs, investors, crypto platforms, ventures and digital finance stakeholders will connect at the Africa Money & DeFi Summit – West Africa edition on September 27-28th 2022 in Accra, Ghana. Following the sold-out Money and DeFi Summit in Nairobi early this…

The Growth of Investment In African Crypto-Based Startups

The cryptocurrency space has become a hotbed for investments of all kinds. From regular people hedging against inflation by buying Bitcoin to major investors betting on the future of finance by providing capital for startups, a lot of money is pouring into crypto. The African continent has had its fair share of investments into new…

Fintech VC Firm QED Investors Makes Investment in TeamApt

TeamApt, a Nigerian payment platform, has just completed a financing round and brought onboard fintech specialists, QED Investors. With almost $5 billion assets under management, QED is a premier VC in the fintech space. They have invested in 27 unicorns over more than 180 portfolio companies across 14 countries. TeamApt is its first investment in…

Using Decentralized Reward Points to Achieve Massive Growth in Commerce

Keynote: Using Decentralized Reward Points to Achieve Massive Growth in Commerce by Simeon Ononobi CEO ThankUCash presented at Africa Tech Summit Nairobi 2022. Simeon discusses how ThankUCash is positioning itself to decentralize loyalty points within the African Market so as to provide more overall value for the customer. Africa Money and DeFi Summit The Africa Money &…

Zeepay announces Series A.5 raise of USD10 million

Zeepay, a cross-border payments company operating as a challenger mobile money company has announced a raise of USD 10 million. The medium-term debt raise, which forms part of its A.5 series, comes to support Zeepay in a bid to augment its fast-growing remittance to wallet business. The raise was led by Symbiotics BV with USD…

How to Send Fee-less Tron Transactions

Original article by Bitpowr Tron is a popular blockchain-based operating system on which a user can create decentralized applications, and distribute media content. The TRX token on its own is used to gain access to certain features of the operating software that are available on the Tron Protocol. Therefore, the main purpose of the token…

The Future of Work & GIG Economy

Insights from the Future of Work & GIG economy panel at Africa Tech Summit Nairobi 2022. Panelists discuss the shift witnessed within the gig economy now that 70% of jobs are tech-enabled, there is the implementation of a remote workforce, the talent within the sector is predominantly Gen Z, and how this shift is affecting…

Exploring Fintech For Resilience

Panel session at Africa Tech Summit Nairobi Exploring Fintech for Resilience The panelists discuss the impact FinTech has had on the climate risks faced by households and small businesses across the continent, and what affordable and accessible solutions are available for these vulnerable communities. Panelists Emilie Blauwhoff, Co-Founder & COO – TopUp MamaDave Okech, Founder…

Skrmiish, a SA gaming startup, receives a US$2.5 million seed round

A US$2.5 million seed round has been raised for Skrmiish, a mobile “play-to-earn” software located in Cape Town that allows players of all skill levels to earn money in every match they play across the AAA+ games they like. Investors in the round so far confirmed include Launch Africa Ventures, Blockchain Founders Fund, and Stellar…

Crypsense Digital Group, First African Web 3 Startup to Qualify for Draper VeChain Accelerator Program

Crypsense Digital Group a Kenyan based Digital Assets Capacity Building & Management Platform is among the first African based Web 3 startups to qualify for the Draper VeChain Web 3 Accelerator Program. A 12 Week Accelerator Program delivered globally to high-growth blockchain companies. The team pitched together with some of top 15 globally fastest growing…

The Evolution Of International Payments & Remittances

Insights from The Evolution Of International Payments & Remittances panel session at Africa Tech Summit Nairobi 2022. The panelist discuss the importance of customer plans with reference to cost, and speed of delivery, highlight effective customer acquisition strategies, barriers to growth and what approach the key players are using to differentiating themselves as the payment…

Neo Banking for Africa

Panel Session at the Africa Money and DeFi Summit, part of Africa Tech Summit Nairobi 2022. Panelists discuss insights and discussions around the rise of Neo banks and how technology is digitizing and disrupting the traditional banking system in Africa. Panelists: Tobi Amira – COO – TeamApt Inc. Dan Tumuramye – Country Director – Uganda…

Youverify extends its seed funding by $1M as it expands into new African markets

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….

Norebase partners with Mercury to offer its users a banking stack for startups

Norebase, an African startup that allows entrepreneurs to start businesses and expand into other markets, has announced its partnership with Mercury — the fintech company building a banking stack for startups — to give its clients looking to incorporate to the U.S an all-in-one neo banking experience. Norebase has stated that this partnership with Mercury, will…

Lami Technologies Raises US$3.7mn Seed Extension

Kenya-based startup Lami Technologies has raised a US$ 3.7m seed extension to expand its insurtech product across Africa. The extension was led by Harlem Capital, an early-stage venture firm that invests in seed-stage tech-enabled startups, focused on minority and women founders. Participating in the round were early-stage venture capital firm, Newtown Partners; Peter Bruce-Clark, a…

Crypto is Changing the world of payments and remittances in Africa

I was shocked when I got to the bank and heard an attendant tell a distressed customer that they could not send money out of Ghana using Western Union. But, even though the situation was disturbing, it assured me that cryptocurrencies would fit in here and adoption needed to happen quickly. In this article, we…

GoGetta to facilitate global investment into African businesses

Quality African businesses with growth prospects that seek funding can now raise capital via an innovative crowdfunding platform, GoGetta. Local and international angel and venture capital investors can now select vetted opportunities and invest quickly and securely amounts of just R1000 or more to own shares in various African businesses. Sthembiso Zwane, co-founder of GoGetta…

Polygon announces Acentrik by Mercedes Benz Is On Polygon Mainnet

Acentrik, a strategic initiative by Mercedes-Benz, is now deployed on Polygon Mainnet as part of its enterprise release. Powered by Blockchain Technology, Acentrik is a decentralized data marketplace developed by Mercedes-Benz, using Ocean Protocol technology – facilitating data sharing and monetization for enterprises across domains. Through tokenization of data assets, secure access of data on…

African Metaverse Opens Up to the World

Africarare Africa’s first metaverse has opened up to the world and is poised to unlock African creativity and connect Africa to the global digital economy. At a recent event in Johannesburg, plans were announced for commercialisation of the 3D virtual reality experience, that is set in Ubuntuland, a virtual world that marries creativity, cryptocurrency, and...

Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

Adaverse, a Cardano ecosystem accelerator set up to encourage the growth of Web3 crypto-native enterprises in Africa, announced its investment into a seed funding round for Afriguild, a blockchain gaming guild-turned DAO (decentralized autonomous organization) providing opportunities for Africans through gaming, education, and community building. Adaverse and EMURGO Africa have joined other notable investors in this…

Hashgreed raises $1M+ for NFT and Asset Tokenization expansion in Africa

Hashgreed, an African NFT marketplace, a multipurpose NFT and super dapp platform under the Krosscoin Ecosystem has recently raised $1M+ towards scaling across Nigeria and beyond. The platform is designed to help both individuals and businesses experience web3 solutions for creative, commerce and Asset tokenization. Hashgreed also hosts amazing DeFi and WorkFi solutions. Users can…

Fintech Bizao Raises €8M To Expand Across Africa

Bizao, a Côte d’Ivoire-based fintech firm currently in over 10 African nations, has introduced an €8 million Sequence A funding spherical. The corporate hopes to speed up its geographical footprint throughout the continent and spend money on the design of recent strains of services with this elevate.  The funding round was led by AfricInvest Financial…

Suzuki by CFAO partners with ETAP to enable seamless insurance for Nigerian drivers

CFAO Motors, the sole distributor of Suzuki cars in Nigeria, has partnered with ETAP, an InsurTech company that creates solutions and incentives to improve the automotive experience across Africa, to enable seamless access to insurance with every new car purchased from the Suzuki network in Nigeria.  As part of the partnership, drivers will now be able to buy insurance…

‘Hack The Mara’ hackathon is now open to African creators and developers

In the Maasai Mara, landowners, wildlife, and tourism depend on one another for survival. The impact of COVID-19 has brought tourism to a standstill, jeopardising the revenue previously realised, and threatening to bring the ecosystem down. Teams are expected to build decentralised finance solutions that can serve anyone, anywhere, no matter how remote. This includes…

DeFi company, Stakefair, secures US$670k pre-seed to launch its business

Stakefair, a Decentralized Finance (DeFi) company has launched after securing US$670,000 pre-seed funding. Investors involved in the round include Adaverse, Nestcoin, Kepple Africa Ventures, Canza Finance, Voltron Capital, Echo VC Chain, Timi Aboyeji, Tomiwa Olaosebikan, Peter Kisadha, Saturn Blockchain Ventures, Thrive Africa Syndicate, Nehikhare Igbinijesu, Oluchi Enebeli, and Clement Hugbo. The funds will be channeled…

Swiss Blockchain Investor, CV Labs, opens Blockchain Incubation Hub in Cape Town

Dedicated Swiss blockchain investor Crypto Valley Venture Capital (CV VC) and its ecosystem company CV Labs have opened CV Labs Cape Town, the African region’s first in situ blockchain incubation and ecosystem hub. As an initiator of Crypto Valley, Switzerland – the world’s most mature blockchain hub, with an admirable regulatory landscape and 14 blockchain…

Kotani Pay partners with Tokpay, to enable off-ramp services to its users

Kotani Pay, a technology stack that enables blockchain protocols, dapps, and fintech companies to integrate seamlessly into local payment channels has announced a partnership with Tokpay, a DeFi neo-bank for for micro-finance and social protection programs in Sub-Saharan Africa.  Acoording to Kotani Pay, the aim of this partnership is to provide off-ramp services to Tokpay…

Zazuu raises $2M to scale its cross-border payment marketplace

Zazuu, an Africa-focused fintech startup creating a payment platform for cross-border payment solutions for Africans in the diaspora, has raised USD2 million, which will be critical in the company’s mission to minimise the inconsistency associated with remittance transactions for Africans. The funding round had the participation of Launch Africa, Founders Factory Africa, Hoaq Club, Tinie…

Central African Republic launches Sango Coin

The Central African Republic’s (CAR) adoption of digital assets and blockchain technology continues to gain new grounds as it introduces the national digital currency called “Sango Coin” which will complement its digital currency hub project—Project Sango. “Sango Coin will be the currency for the next generation,” President Faustin-Archange Touadera said in a statement made at…

MTN teams up with ETAP to reward Nigerians for good driving

MTN Nigeria, Africa’s leading technology company, has teamed up with ETAP, a mobility technology company that creates solutions and incentives to improve the automotive experience across Africa, to reward Nigerian drivers for maintaining good driving behaviour. Leveraging ETAP’s game-changing app which uses advanced telematics to monitor driving behaviour such as speed, acceleration, braking, cornering, and focus, MTN customers…

IFC Invests in Mobile Money Firm Wave to Boost Access to Digital Financial Services in West Africa

To spur financial inclusion and support economic growth in Senegal and Côte d’Ivoire, global development institution, IFC has announced an investment in Wave Mobile Money S.A. (Senegal) and Wave Côte d’Ivoire S.A., mobile money firms that are helping lower prices and expand services in the region. The investment from IFC and other lenders will help Wave substantially grow…

Nigerian Fintech, Moove, secures $20 million credit from British International Investment

British International Investment (BII), the UK government’s Development Finance Institution (DFI), formerly known as CDC Group, has announced a $20 million, 4-year structured credit investment in the Nigerian mobility fintech firm democratising access to vehicle ownership in Africa, Moove. The investment is said to reflect BII’s focus on mobilising capital to build self-sufficiency and market resilience in Nigeria…

Cellulant Partners With 5 Water Utility Companies in Zambia

Pan-African Payments technology company, Cellulant, has announced a digital payment partnership with five leading Zambian water utility companies; Nkana Water, Kafubu Water, Mulonga Water, Chambeshi Water, and Western Water. This partnership will allow customers in the province to conveniently pay their water bills with their preferred mobile money and selected bank accounts (Standard Chartered Bank,…

Luno: Who’s Buying Crypto in Africa?

LUNO: Who is buying crypto in Africa? The average African crypto buyer is most likely to be male, spends about $20 USD on the first purchase and holds onto it for about 9 months, according to data from Luno, a crypto platform with over 10 million customers in 40+ countries. Interest in crypto is rising…

Ayoken raises $1.4 Million Pre-Seed to Build Africa’s First NFT Marketplace

Founded by Joshua King in 2021, Ayoken, the first platform for buying exclusive digital collectables, and social tokens from the musicians, sports brands, creatives, and influencers from Africa, and the global diaspora, has launched its own NFT Marketplace after raising $1.4 million in its pre-seed funding round. Investors that participated in this round include Founders…

Exploring Fintech For Resilience

Panel session at Africa Tech Summit Nairobi Exploring Fintech for Resilience. The panelists discuss the impact FinTech has had on the climate risks faced by households and small businesses across the continent, and what affordable and accessible solutions are available for these vulnerable communities. Panelists Emilie Blauwhoff, Co-Founder & COO – TopUp Mama Dave Okech,…

Safaricom partners with Visa to provide virtual cards for global transactions

Kenya’s biggest telecommunications operator, Safaricom, has launched a virtual payment card with Visa Inc, offering the more than 30 million users of its M-Pesa payments system access to global e-commerce platforms. The launch of the M-Pesa GlobalPay Visa virtual card follows a partnership between the two companies forged in 2020 to develop “products that will…

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