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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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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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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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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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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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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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…
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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…
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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…
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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,…
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