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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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…
Africaand Ganesh RengaswamyBlog PostEmerging MarketsFintechJonathan WhittleMonica Brand EngelQuona Capital
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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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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…
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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…
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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…
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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….
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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…
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