A fintech from Ivory Coast — part of one of the most economically challenged and financially fragmented regions in the world — has raised funding for an ambitious goal: to become the ‘Stripe for Francophone Africa’. HUB2, as the startup is called, already works with some 55 neobanks, payment companies, remittance companies and cryptocurrency providers, […]
HUB2 banks $8.5M to become the ‘Stripe for Francophone Africa’ Read More »
An African fintech that has grown on the strength of a 30,000-strong team of direct salespeople is moving into profit country by sub-Saharan country. Now, M-KOPA, the pay-as-you-go asset financing platform serving 5 million underbanked Africans, is racing toward a major milestone: surpassing an annual revenue rate of $400 million by year-end. The London-headquartered fintech
Financial inclusion drives African fintech M-KOPA to $400M in ARR Read More »
Pan-African venture capital firm Janngo Capital has closed its oversubscribed second fund at €73 million ($78 million), 20% more than its target of €60 million (~$63 million). In 2022, Janngo Capital reached the first close of its second fund at €26 million, receiving capital from several limited partners, including the African Development Bank Group (AfDB)
African ‘gender-equal’ VC Janngo Capital closes second fund at $78M Read More »
Google’s Africa Investment Fund is a new investor in African fintech Moniepoint, which just closed $110 million in new financing. The Series C round, which involved an equity sale, per Bloomberg, was led by Development Partners International’s African Development Partners (ADP) III fund. Other investors, including African private equity firm Verod Capital and global impact
Google, DPI backs African fintech Moniepoint in $110M round Read More »
Africa’s blockchain and crypto space is receiving a much-needed venture boost during a tough time for startups, some of which have retreated from specific markets or completely shut down due to issues like harsh regulatory environment, macros or downright mismanagement. The boost involves Yellow Card, the U.S.-founded crypto platform launched in Nigeria in 2019, which
Last month, Flutterwave, Africa’s most valuable startup, appointed Mitesh Popat as its new chief financial officer. The company, valued at $3 billion when it raised a Series D in 2022, appointed Popat after the resignation of Oneal Bhambani, who stepped down ten months ago for personal reasons. Bhambani joined Flutterwave in mid-2022, during a turbulent
Flutterwave’s chief on the company’s executive hires, product focus, and IPO plans Read More »
Kenya’s competition authority has fined Baltic lender Eleving‘s Kenyan subsidiary for misleading its customers, casting a spotlight on the continuing unethical operations of a section of digital lenders in the country despite a new law. The Competition Authority of Kenya (CAK) imposed a fine of $84,120 on Eleving subsidiary Mogo Kenya for violating competition law
Kenya fines Baltic fintech Eleving’s local arm for misleading customers Read More »
Not many ecosystems outside of Silicon Valley can boast successful tech startups launched by founders while still in school or shortly after dropping out. So, when such events occur in regions like the Middle East or Africa, the companies are worth paying attention to. A decade ago, Islam Shawky, Alain El Hajj, and Mostafa Menessy,
Two of Africa’s largest B2B e-commerce platforms, Wasoko and MaxAB, have finally completed the continent’s much-talked-about merger, TechCrunch has learned. The all-stock transaction, both companies say, marks “an evolution from B2B e-commerce companies to a multi-vertical ecosystem for Africa’s $600 billion informal retail sector.” Talks of a merger between Kenya-based Wasoko and Egypt-based MaxAB began
Businesses across Africa face challenges managing payroll, especially in a landscape with different regulations, remote employees, and hybrid workplaces. About 80% of small and medium-sized businesses still use Excel and Google Sheets as they can’t afford or maintain complex payroll systems. Here’s why: On-site third-party solutions offer limited features, while software designed for large companies
Kenyan HR and payroll startup Workpay lands Visa as investor in $5M round Read More »
