Tagged: africa

African Fintech Flutterwave Unveils SME E-Commerce Portal “Flutterwave Store”

Flutterwave, an African fintech firm, announced this week the launch of its new e-commerce platform “Flutterwave Store.” The platform was created for African merchants to create digital shops to sell their products online. According to Flutterwave, the Flutterwave Store allows merchants to upload products, set… Read More

Nigerian Fintech Okra Secures $1 Million Through Pre-Seed Funding Round From TLcom Capital

Nigerian fintech platform Okra announced on Monday it has secured a $1 million pre-seed fundraise from Sub Saharan Africa focused tech venture capital firm, TLcom Capital. The funding will go toward Okra’s efforts to build the infrastructure for Africa’s next wave of fintech innovation. Launched… Read More

Binance Introduces Africa-Focused Social Payments App For Cash & Crypto

Cryptocurrency exchange Binance announced on Thursday the launch of the Africa-focused social payments app for cash and crypto, Bundle. Binance reported that Bundle, which was founded by Yele Bademosi, formerly a director at Binance Labs, Bundle allows users to request, send, and receive cash or… Read More

African Payment Startup PalmPay Waives Fees; Announces ₦100 Million COVID-19 Payout Fund

PalmPay, an Africa-based payment startup, announced this week it is waiving fees on all money transfers and has launched a new ₦100 million COVID-19 support fund. According to PalmPay, the waiving of fees offer is now available for any amount to any Nigerian bank until… Read More

U.S. Fintech HUMBL Teams Up With One Kiosk to Pilot HUMBL Mobile Pay, HUMBL Point-of-Sale, & HUMBL Hubs Delivery Network in Nigeria

HUMBL, a U.S. fintech that delivers mobile payments and financial services, announced on Monday it has teamed up with One Kiosk, a Nigeria fintech specializing in local merchant ordering and deliveries, to pilot the HUMBL Mobile Pay, HUMBL Point-of-Sale (POS) and HUMBL Hubs delivery network,… Read More

African E-Commerce Platform Jumia Now Offering Support For Marketplace, Logistics, & Online Payments to Governments in Africa During COVID-19 Outbreak

Jumia, a Nigeria-based e-commerce platform, announced on Friday it is offering support for marketplaces, logistics, and online payments to governments in Africa as part of the global action against the COVID-19 outbreak. Founded in 2012, Jumia offers e-commerce services through its marketplace, logistics, and JumiaPay…. Read More

UAE Exchange Rebrands to “Unimoni”; Now Seeking to Expand Brand Network & Introduce New Products/Services in Tanzania

UAE Exchange, a global money transfer, foreign exchange and payment solutions brand, announced on Tuesday it has rebranded to Unimoni as it seeks to expand its brand network and introduce more products and services in Tanzania. The company reported that this rebranding in Tanzania, in… Read More

Belgium-based Blockchain Firm SettleMint Secures $2 Million via Latest Investment Round

Belgium-headquartered SettleMint, an enterprise blockchain firm, has reportedly secured €1.9 million (appr. $2.04 million) through a new investment round. KPN Ventures and Medici Ventures took part in the firm’s latest funding, SettleMint’s management confirmed on January 28. Following the capital injection, the company is planning… Read More

Dubai International Financial Centre Fintech Hive Launches Investment Accelerator Program in Middle East, Africa, South Asia

Dubai International Financial Centre (DIFC) Fintech Hive has announced the introduction of their investment-focused accelerator program for startups and other small companies in the Middle East, Africa and South Asia (MEASA) regions. The Fintech Hive Scale Up program will provide partnership and investment opportunities for… Read More

FIS Announces Payment Processing Expansion in Africa

FIS (NYSE: FIS), a financial services technology firm, announced on Friday it has expanded its payment processing in Africa. Through the expansion efforts, FIS will integrate technology from Flutterwave, a U.S.-based payments technology company with operations in Africa, into its Worldpay payment processing platform for… Read More

Bill and Melinda Gates Foundation-backed Catalyst Fund Launches $15 Million Commitment from J.P. Morgan, UK Aid

Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More

U.S. & Lagos Fintech Startup Flutterwave Secures $35 Million Through Series B Funding Round & Announces New Partnership With WorldPay For Payments in Africa

Flutterwave, a U.S. and Lagos-based fintech that’s on a mission to build payments infrastructures to connect Africa to the global economy, has reportedly secured $35 million through its Series B funding round. Along with the investment announcement, the company revealed it is now teaming up… Read More

dLocal Announces Expansion of Emerging Markets Payments Platform to Include Nigeria & South Africa

dLocal, a fintech company specializing in facilitating cross-border payments for global e-commerce merchants in emerging markets, announced on Tuesday it has expanded its payments network to include Nigeria and South Africa. dLocal reported it now supports more than 300 local payment methods in 17 market… Read More

Visa Partners With MFS Africa To Bring Digital Payments to More Consumers & Businesses Across Africa

Visa announced on Wednesday it is teaming up with pan-African fintech MFS Africa to help bring digital payments to more consumers and businesses throughout Africa. The duo reported that MFS Africa, which connects through one API more than 180 million mobile wallets on the continent,… Read More

Trulioo Announces Expansion of Identity Verification Coverage to Nigeria & Ghana

Trulioo, an on-demand global identity verification company, announced on Monday it has expanded its identity verification coverage services to Nigeria and Ghana through GlobalGateway, its marketplace of identity data and services.  According to Trulioo, GlobalGateway’s coverage in Nigeria and Ghana will help financial institutions accurately… Read More

African Journalist Considers Whether Facebook Libra Coin a Boon for Africa

African technology journalist Andile Masuku has written that corruption around remittances in Africa is so bad, “I have become numb to the daylight robbery that ensues whenever I receive money from abroad or send cash to my family back home.” Masuku cites figures from the World… Read More

Organic Chocolatier Fairafric Overfunding on Seedrs: Sweet Success

Fairafric produces certified organic chocolate, from bean to bar in Ghana. Chocolate, with its reported per capita consumption of approximately 5kg per year in most of Europe, is ready for disruption and more ethical production. Kickstarter alum Fairafric aims to increase income per bar five-fold and create… Read More

Standard Chartered Launches Africa eXellerator Innovation Hub in Kenya

Standard Chartered Bank announced on Monday it has officially opened its Africa eXellerator Innovation Hub in Kenya. According to the digital bank, the innovation hub will serve asa platform to collaborated with fintechs in Kenya, as well as the broader African region to drive innovation… Read More

Standard Chartered Launches Second Wave of Digital-Only Retail Banks Across Four African Markets

Standard Chartered Bank announced on Thursday it has rolled out the second wave of its digital-only retail banks across four African markets. Standard Chartered reported it will launch its digital solution in four key markets during the first quarter of 2019 starting in Uganda in January,… Read More

Africans Using Gift Cards to Buy Bitcoins Through Paxful

Owners of a peer-to-peer Bitcoin trading app called Paxful says Africans are conducting 17 000 bitcoin trades per day using the service, and that the majority of the trades involve exchanging bitcoins for gift cards from Amazon and iTunes, according to a recent blog post… Read More

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