South Africa’s Peach Payments lands $31m Series A funding
With the new investment, Peach Payments plans to expand across new markets in Africa.
South Africa
The latest fintech news, resources and expert analysis in South Africa by the leading intelligence provider for the worldwide fintech community.
South Africa rolls out PayShap, a new real-time digital payments service
With PayShap, consumers will have access to instant, real-time payments across participating banks.
Africa-focused escrow service Truzo launches in the UK
Truzo says it will close its next round of funding in Q2 2023.
Thought Machine plans to boost headcount by 20% in 2023
Thought Machine intends to hire across India, Japan and South Africa for the first time.
South Africa to pilot national rapid payments programme this year
The national payment system forms part of South Africa’s Vision 2025 programme.
South African digital lender Lulalend bags $35m Series B
Lulalend will look to increase its loan book size and develop new products.
Investec taps Surecomp for its digital trade finance tech
Surecomp’s tech will support Investec’s newly formed trade finance business.
Momentum Metropolitan taps Duco for no-code data automation solution
Momentum went live with Duco’s platform as part of a wider data automation strategy.
Barclays to sell remaining 7.4% stake in South Africa’s Absa
The offloading of 63,072,652 shares will raise approximately £538 million, Barclays says.
Passive micro-investing app upnup launches in South Africa
The company says micro-investing is a good first step into the space, providing “investment on auto-pilot”.
South Africa’s TymeBank to acquire SME funding fintech Retail Capital
Retail Capital will form the foundation of an expanded business banking offering within TymeBank.
Remittance start-up SendSprint launches in UK in partnership with Flutterwave
Flutterwave will provide the infrastructure to enable SendSprint to process cross-border transactions.
Capitec Bank taps nCino for business banking loan management upgrade
Capitec is South Africa’s largest digital bank, with more than 10 million customers.
Apollo Fintech taps ThetaRay for Sonar AML monitoring tech
Apollo Fintech will deploy Sonar on its new bank-to-bank payments service Knox Wire.
South African banking heavyweight Capitec appoints CTO, Andrew Baker
Andrew Baker had a lengthy tech career at Barclays Africa and its successor, Absa.
African fintech start-up Stitch lands $21m Series A round
Stitch will use the cash to expand its team, launch new products and enter new markets on the continent.
South African challenger bank Tyme completes $180m Series B with Tencent investment
The investment from Tencent and UK development finance institution CDC brought in an additional $70 million.
MTN hires Hermann Tischendorf as CTIO for digital and fintech
Tischendorf joins from 4Finance Group, where he served as CTO.
Shinhan Bank readies stablecoin remittance PoC on Hedera network
This is the latest in a number of distributed ledger innovations by the South Korean bank.
South African e-payments platform Ozow lands $48m in Series B funding
The paytech says cash will help deepen financial inclusion on the African continent.
Chipper Cash lands unicorn status with $150m Series C extension
The extension brings Chipper Cash’s total funding to date to over $305 million.
Standard Bank partners Flutterwave to boost digital financial services in Africa
Bank says the pandemic has caused a shift to digital payments across Africa.
South African fintech Yoco looks to scale following $83m Series C round
The firm is now targeting expansion across Africa and the Middle East.
Former Absa exec joins NAB as new chief security officer
Sandro Bucchianeri announced his departure from Absa at the start of the month.
ClearScore lands $200m investment from Invus
The UK fintech is looking to accelerate its global expansion.
Standard Bank extends Microsoft partnership to boost cloud migration
The South African bank renews a 30-year deal with the US tech giant.
Telkom launches Africa’s first virtual card for transacting on WhatsApp
Telkom Pay users can now use WhatsApp to pay any merchant that accepts Mastercard.
Vodacom launches “super app” in South Africa with Alibaba’s help
“We see this super-app as a precursor to M-Pesa’s evolution,” says CEO.
Curo Fund Services goes live on Temenos accounting platform
South African insurance processor finishes first phase migration of five systems.
Nedbank and Mastercard launch WhatsApp payments with Money Message
South African bank aims to provide easy payments to small businesses.
FIS expands payment processing in Malaysia, South Africa and Nigeria
“Emerging markets across Southeast Asia and Africa present fresh opportunities”.
South African fintech Adumo lands $15m from World Bank member
Adumo helps businesses move from cash transactions to digital payments.
South African paytech Nomanini obtains debt funding
It raised a convertible loan from the MASSIF fund, which is run by FMO.
Fintech funding deals globally 22-28 February 2021
Featuring Chargebee, Tyme, TypTap Insurance, Anchorage, and Earnix.
Tyme lands $110m in Series B funding, plans Asia-Pacific expansion
TymeBank looks to expand beyond its South African headquarters.
Netflix bags Uber’s product head Ebi Atawodi as payments director
Atawodi spent more than six years at Uber.
Absa launches digital bank Spot Money in South Africa
The open banking platform integrates with various bank and payment services.
South African BaaS provider Ukheshe to acquire local fintech Oltio
Oltio is a smaller South African firm which hosts QR code payments for Mastercard.
FNZ acquires investment solution vendor Silica from Ninety One
Silica claims to service more than 1.3 million investor accounts.
Capitec Bank selects HPS PowerCard to power new product launches
The South African Bank aims to “simplify” banking for its customers.
