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Fintech in Africa

Kenyan fintech startup FinAccess raises $500 thousand in funding

Kenyan fintech startup FinAccess raises $500 thousand in funding

FinAccess, a financial technology startup offering software-as-a-service (SaaS) solutions has raised $500 thousand in its pre-Series A funding round led by HAVAIC, a venture capital firm based in Cape Town. * The fund will be used to improve the startup's market leadership in Kenya and expand into new geographies. * Founded in

Crypto exchange platform Yellow Card launches its payment solution Yellow Pay

Crypto exchange platform Yellow Card launches its payment solution Yellow Pay

Yellow Card Financial, a global crypto exchange platform, which is available in over 14 African countries, has launched a new payment feature called Yellow Pay. * Yellow Pay uses Yellow Card’s crypto exchange platform to complete customer transactions in USDT. * The payment solution will make it easier for customers to

African fintech has an identity verification problem begging for a solution

African fintech has an identity verification problem begging for a solution

🚀The Draft is a weekly series that brings you the most important technology news across emerging markets, written by Juwon and edited by Loy. Follow the rest of our coverage on Techloy.com and up-to-the-minute updates @techloy As the saying goes...an apple a day keeps the doctor away. In

South African startup Qwili raises $1.2 million

South African startup Qwili raises $1.2 million

Cape Town-based Qwili, a startup that makes digital products and services accessible to digitally excluded and unbanked consumers, has raised $1.2 million in seed funding. * The company plans to use the funding to scale up its low-cost NFC-enabled smartphone Qwili Pula which allows merchants to send and receive payments.

Ivory Coast-based fintech startup Bizao raises $8.2 million in funding

Ivory Coast-based fintech startup Bizao raises $8.2 million in funding

Bizao, a Paris-headquartered fintech startup based in Ivory Coast and operating and expanding across Africa, has raised $8.2 million in its Series A funding round to enter new markets on the continent. * The fund will be invested in scaling the commercialisation of its payment hub and expanding its operations

Sudanese fintech startup Bloom raises over $6 million in seed funding

Sudanese fintech startup Bloom raises over $6 million in seed funding

Bloom, a fintech startup helping people to save in volatile economies has raised $6.5 million in its seed funding round to expand its operations in Sudan and the East Africa region. * The capital will be invested in widening its operations in Sudan and the East Africa region including Ethiopia,

Catalyst Fund secures $3.5 million to scale pre-seed impact ventures in Africa

Catalyst Fund secures $3.5 million to scale pre-seed impact ventures in Africa

Kenya-based Catalyst Fund supporting early-stage startups building innovative fintech solutions to serve underserved communities has secured $3.5 million in funding, to accelerate and scale pre-seed impact tech startups in Africa. * The fund will back 40 African startups offering innovative fintech solutions in climate-vulnerable communities. * Catalyst Fund has invested in

Africa-focused fintech Zazuu raises $2 million to advance its payment marketplace

Africa-focused fintech Zazuu raises $2 million to advance its payment marketplace

Zazuu, a fintech startup helping people in the diaspora to have better payment and credit services online has raised $2 million in its new funding round, to scale its cross-border payment marketplace. * The fund will be invested in expanding its customer base, increasing its talent team, and scaling its new

IFC invests $91 million in West African mobile money startup Wave

IFC invests $91 million in West African mobile money startup Wave

The finance-focused arm of the World Bank Group, the International Finance Corporation, has invested $91 million in Wave mobile money startup, based in Senegal and Coted'Ivoire in the West Africa region. * The investment targets promoting financial inclusion and supporting economic growth in Senegal and Coted'Ivoire by helping Wave to increase

UAE-based fintech YAP secures $41 million in funding

UAE-based fintech YAP secures $41 million in funding

Fintech startup based in the UAE, YAP, has secured $41 million as part of its Series A funding round to support its expansion plans. * The fund will help the financial technology startup expand its services in Saudi Arabia, Egypt, Pakistan, and Ghana. * YAP provides smart financing for its customers via