Fintech company Tanda secures investment from HAVAIC to accelerate its product development

KENYA – The venture capital firm HAVAÍC has successfully concluded its third investment in the Kenyan fintech company Tanda. The contribution from the company’s HAVAÍC Universum Core African Fund, which has a total asset value of US$20 million, is being made as part of an ongoing pre-series A round in cooperation with three additional investors, one of which is DFS…

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Fintech startup Numida raises US$12m pre-series A round to expand into new markets

UGANDA – Ugandan fintech startup Numida, which uses proprietary credit models and tech-enabled underwriting processes to provide unsecured working capital loans to African micro and small businesses (MSBs), has raised a US$12.3 million pre-Series A round of equity and debt funding to help it expand its team and move into new markets. Serena Ventures leads the US$7.3 million equity portion…

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Fintech startup Chari secures US$1m from Endeavor Catalyst to strengthen its expansion plan

MOROCCO – Chari, a B2B e-commerce and fintech startup, becomes the first Moroccan startup to receive US$1 million (10.9 million MAD) from Endeavor Catalyst, an investment fund that is part of the Endeavor network. Endeavor Catalyst’s investment is part of Chari’s Serie-A round. This funding round allows the Moroccan startup to strengthen its continental expansion and begin its shift to…

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Fintech FairMoney partners Oradian to accelerate market growth

AFRICA – FairMoney, a credit-led mobile banking platform for emerging markets in Africa and Asia, has partnered with Oradian, a cloud-based core banking system, to power its next stage of growth and product innovation. Oradian services over 10 million banking customers, working with more than 50 tech lenders, banks and financing companies in 13 countries across Africa and Asia. Their…

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Fintech startup SecondSTAX raises US$1.6m pre-seed funding to expand internationally

GHANA – SecondSTAX, a platform that connects institutional investors like pension funds and broker-dealers with international markets, has raised US$1.6 million in pre-seed funding from private investors and VC firms like LoftyInc Capital, Orbit54, and STEMeIn. According to co-founder and CEO Eugene Tawiah, this money will be used to expand SecondSTAX’s reach internationally by the end of the year. It…

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Fintech Julaya raises US$5m pre-Series A round of funding to support its expansion

IVORY COAST – Payment solution Julaya, which is based in and focuses on payments, has raised an additional US$5 million in a pre-Series A round of funding. The company has raised a total of US$7 million in the fundraising round to support its mission of facilitating business-to-business (B2B) payments for companies in Francophone West Africa, primarily using mobile money channels.…

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Fintech platform Yellow card closes US$40m series B investment round

AFRICA – Pan-African digital currency trading platform Yellow Card has announced the completion of its US$40 million Series B investment round, headed by Polychain Capital. Other investors that took part in the round include Valar Ventures, Third Prime, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, and The Raba Partnership. The startup plans to utilise the capital to…

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Corporate venture builder Byld Ventures closes US$15m to fund African fintechs

AFRICA – Byld Ventures, an investment firm focusing on early-stage funding for fintechs in Africa, has made a new close of its US$15 million fund launched in May, with a focus to back fintechs in the African ecosystem. Over a dozen athletes, in addition to the government of Dubai and a few institutional investors who have not been disclosed, have…

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Global payments FinTech Ebanx expands its services to Africa

AFRICA – Brazil’s payments FinTech Ebanx is expanding beyond its Latin American roots for the first time and bringing its digital solutions to Africa. Founded in Brazil, Ebanx spent 10 years expanding to 15 Latin American countries and is now focusing on Africa, which it believes is the next big growth frontier for digital payments and the digital market. “This is the…

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Fintech platform Kippa raises US$8.4m to expand its offerings to Nigerian SMEs

NIGERIA – Kippa, a financial management and payments platform for small businesses, has announced that it has raised US$8.4 million in a new financing round. This fundraise brings the total fundraised by Kippa to US$11 million. In the oversubscribed round, Kippa welcomed global investors, including Goodwater Capital, TEN13 VC, Rocketship VC, Saison Capital (the venture arm of Credit Saison), Crestone…

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