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…
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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…
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…
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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…
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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…
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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…
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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…
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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…
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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…
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