Egypt's MoneyHash, a payment orchestration platform, has raised $4.5 million in seed funding to support its expansion. Established in 2021, it has experienced significant growth, securing large enterprise clients and integrating over 90 payment providers.
Stripe's support for stablecoins in 101 countries highlights regulatory challenges in Africa. Key markets like Nigeria and Kenya, despite high crypto adoption, are excluded due to unclear regulations, underscoring the importance of regulatory compliance for fintechs.
South African fintech startup, SOLmate, is riding a wave of explosive growth, doubling its active user base to around 100,000 over the past year. The surge comes amid skyrocketing demand for eWallet solutions and strategic partnerships aimed at expanding access to digital payments in underserved
Ghanaian startups are invited to apply for UNICEF StartUp Lab's 6-month accelerator focused on tech solutions for social impact, addressing various SDGs. Selected startups receive mentorship, funding, and access to UNICEF's network.
VALR.com, a cryptocurrency exchange headquartered in South Africa, has announced that it has raised $50 million (over R750 million) in Africa’s largest ever crypto funding round. This values the company at $240 million (R3.7 billion) VALR’s oversubscribed Series B equity funding round was led
SumSub has expanded its Non-Document Verification solution to South Africa, Nigeria, Kenya, and Ghana, reaching over 350 million potential users. This initiative enhances KYC/AML compliance, fights identity fraud, and simplifies user onboarding in Africa.
Kenyan fintechs M-PESA and Pezesha are launching Mkopo wa Pochi, a credit service for small business owners to borrow through M-PESA accounts. Available from June 2024, it aims to utilize both firms' strengths, offering quick loans with flexible terms and a credit assessment process.
Agent Banking Company (ABC), a Ugandan fintech, has received an undisclosed investment from Goodwell Investments. The investment, derived from Goodwell’s €150 million uMunthu II Fund, will help ABC expand its client base, increase agent coverage, and introduce new services. uMunthu II Fund