African fintech M-Kopa secures $200m debt financing and $55m equity funding
The debt financing was led by Standard Bank Group and the equity round by Sumitomo Corporation.
Kenya
Kenya’s Fingo partners with Ecobank to launch neobanking app
The app aims to boost financial inclusion for young people in Kenya.
South Africa’s Peach Payments lands $31m Series A funding
With the new investment, Peach Payments plans to expand across new markets in Africa.
Amidst legal troubles in Kenya, Flutterwave lands two licences in Rwanda
The unicorn’s latest push in Rwanda follows its bid to expand across East Africa.
KCB Bank Kenya taps Sopra Banking Software for digital transformation
Sopra Banking Software will design, build and support the bank’s savings and lending products.
ICYMI fintech funding round-up: Ascendant, Evergreen, Kwara, Pilon & more
Featuring Ascendant, Evergreen, Komunal, Kwara, Pilon, and Sprinque.
Kenya’s DeltaPay taps Provenir for data and risk decisioning platform
DeltaPay leverages alternative data to expand financial access to affordable consumer credit.
Africa’s Cellulant partners Mastercard for online e-commerce payments
Cellulant’s customers can now pay online wherever Mastercard is accepted via the Tingg wallet.
Mambu core banking tech underpins new African bank, Carbon Finance
Nigeria’s Carbon Finance is now a full-service bank with pan-African aspirations.
Africa fintech funding round-up: Pezesha, Duplo, SubsBase, Grey and Anchor
A handy round-up of the recent funding endeavours of fintech companies across Africa.
DPO Group co-founder and CEO Eran Feinstein retires
As Feinstein retires, Brandon Williamson has been appointed regional managing director for acquiring in South Africa.
Umba acquires 66.6% stake in Kenyan microfinance lender Daraja
The Central Bank of Kenya says the deal will “support the stability of Kenya’s microfinance banking sector”.
African neobank 4G Capital goes live on Mambu’s cloud banking platform
The micro and small business-focused bank is looking to scale across East Africa.
Remittance start-up SendSprint launches in UK in partnership with Flutterwave
Flutterwave will provide the infrastructure to enable SendSprint to process cross-border transactions.
African neobank 4G Capital completes Series C round
Global private equity fund Lightrock is investing $18.5 million in the financial inclusion player.
Paytech Dash lands $32.8m seed round to unify Africa’s mobile money wallets
Dash is a unified payment network for the 1.3 billion Africans currently transacting digitally.
African asset financing platform M-Kopa raises $75m in funding
M-Kopa will use the new cash to grow its team and expand into additional countries.
Kenyan start-up MarketForce lands $40m Series A funding
The oversubscribed round was led by Africa-focused investment vehicle V8 Capital Partners.
South African BaaS platform Jumo raises $120m in funding
The company will use the cash to expand into more emerging markets.
Chipper Cash lands unicorn status with $150m Series C extension
The extension brings Chipper Cash’s total funding to date to over $305 million.
Ghana International Bank selects Backbase to drive digital transformation
The Dutch fintech will act as the core strategic partner for the bank’s digital operations.
Safaricom mulls M-Pesa partnership with Amazon
A wider partnership with Amazon “is important”, says CEO.
Airtel Africa sells 25% stake in mobile money arm to Mastercard for $100m
Airtel Africa hopes to list the mobile money business as a separate entity.
Kenyan start-up Powered by People raises $1.5m seed funding
The round was led by Matt Kalish of DraftKings and TBD Angels.
South African paytech Nomanini obtains debt funding
It raised a convertible loan from the MASSIF fund, which is run by FMO.
ImaliPay raises undisclosed amount in pre-seed funding
The undisclosed amount in pre-seed funding came from Australian venture capital firm TEN13.
Kenyan paytech Popote raises funding from GreenHouse Capital
The undisclosed amount of funding will help the paytech scale.
Kenyan agri-insurtech Pula raises $6m Series A
The funding round was led by Pan-African early-stage venture capital firm, TLcom Capital.
Prospa sets out to serve global diaspora of African entrepreneurs
The start-up’s sweet-spot customers are entrepreneurs and micro-SMEs.
Kenyan loans via mobile phones drop 50%, says KCB
Defaults have more than tripled, according to KCB’s CEO.
Standard Chartered and Airtel Africa sign financial inclusion partnership
The two firms plan to boost services in “key” African markets.
Kenyan central bank plans digital lender clampdown
New legislation the latest attempt to stop unregulated lending.
Kenyan lender I&M to become majority owner of Uganda’s Orient Bank
Last year, Orient Bank reported a net loss equivalent to $284,374.
Ingressive doubles African tech start-up fund to $10m
Ingressive averages $200,000 to $400,000 in individual investments.
P2P payments app Chipper Cash lands $13.8m
The San Francisco-based start-up operates across seven African countries.
Standard Chartered to launch new savings product, calls for help from fintechs
The bank has set a ‘challenge’ for start-ups on its ‘Fintech Bridge’ network.
Safaricom and Visa sign M-Pesa partnership
The two firms will work on developing new products for the African payments platform.
Vodacom and Safaricom finalise M-Pesa acquisition
Joint venture takes control of popular mobile money brand from Vodafone.
Jumia steps in to assist Africa amid rising coronavirus numbers
Jumia will help various African governments distribute masks to hospitals.
Inclusion, innovation, and mobile money in Sub-Saharan Africa
“If our systems fail, a big part of the economy would fail,” says exec.
