africa

Kuda and CEO face allegations of sex discrimination and unfair dismissal from former executive, per filing

Fintech /

An employment tribunal case has placed Kuda Technologies, one of Africa’s fastest-growing digital banks, under scrutiny over allegations of workplace discrimination, harassment, and wrongful dismissal. Rosemary Hewat, Kuda’s former Group Chief People Officer (CPO), filed a complaint accusing the company and its CEO, Babatunde Ogundeyi, of sex discrimination, victimization, and unfair dismissal. According to the […]

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Ghanaian fintech Affinity bags $8M to scale digital banking in a mobile money-driven market

Fintech /

Africa’s top digital banking platforms typically come from high-growth, populous markets like Nigeria, South Africa, and Egypt. But Affinity Africa, an upstart from Ghana, wants to join the conversation. The startup has raised $8 million in seed funding to expand its financial products further across the country, where mobile money is the dominant financial tool.

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QED leads $11M investment in Nigerian fintech Raenest

Fintech /

As Africa’s tech ecosystem booms, more local talent is landing remote jobs with Big Tech firms and global startups. But getting paid remains a challenge for many of these freelancers and remote workers. They struggle to open accounts that accept US dollars, with foreign employers using incompatible payment platforms, and face slow invoicing and payment

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Egypt’s Khazna banks $16M for its financial super app and expansion into Saudi

Fintech /

A large portion of Egypt’s population lacks access to traditional banking, forcing many to rely on cash transactions and informal lending. Khazna, a fintech startup founded in 2019, is tackling this issue by offering financial services tailored for low- and middle-income workers. The company provides solutions like salary advances, digital payments, and microloans to help

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QED seeds $9.9M in Cedar Money, a stablecoin payment platform

Fintech /

The newest generation of startups aiming to solve cross-border payments are focusing on stablecoins — cryptocurrency coins often pegged to actual currencies or other commodities to help them keep stable prices — to build solutions that work faster and often cheaper than classic financial rails. This trend is also driving a surge in investor interest

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Uber-backed mobility fintech Moove acquires Brazil’s Kovi, takes ARR to $275M

Transportation /

Uber-backed Moove, an Africa-born mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers across six continents, has acquired Kovi, a Brazilian urban mobility provider. The value of the deal is not being disclosed, but Moove confirmed it was an all-share transaction, and Kovi is now wholly owned by Moove. Moove co-founder and

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This fintech has a fix for the biggest cross-border payments issues in Francophone Africa

Fundraising /

Until a few years ago, it used to be difficult to make payments across borders almost anywhere in the world. But it’s still a big problem in Africa, where fragmented, disconnected systems, high fees, and poor infrastructure make it tough for businesses and individuals to move money quickly and affordably. The majority of people and

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African fintech Moniepoint gets Visa backing, plans to work on contactless payments

Fintech /

Visa has joined African fintech Moniepoint as a new investor. The business banking and payments platform confirmed to TechCrunch that it received a “strategic investment” from the global payments giant as both companies look to drive financial inclusion and support the growth of small and medium-sized enterprises (SMEs) across Africa. Sources close to the deal

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MoneyHash, which provides single access to payment services in MENA, banks $5.2M

Fintech /

When merchants or companies launch online, they typically start by partnering with one or two payment processors. But as they grow and expand into new regions, they often need to onboard additional payment partners to meet different customer (and sometimes regulatory) needs, a process that comes with some hurdles.  That’s given rise to companies to

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How African VC firm Oui Capital returned its first fund with Moniepoint’s unicorn exit

Venture /

At a recent investor meeting, early-stage African investor Oui Capital informed limited partners that it had returned its $4 million debut fund following the sale of some shares in the business banking platform Moniepoint. The African fintech unicorn has so far proven to be a standout investment for five-year-old Oui Capital. When it launched its

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