Fintech leads by deal size, but the rise of embedded finance models in impact sectors blurs the lines.
Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
Moroccan Super app Fintech raised $1.9 Million in a pre-series A funding round.
Global B2B payments platform expanded to West Africa
The mother country of most African fintechs secured $40 million to fund seed startups.
Nigerian lender expanded into asset management with SEC licence.
Kenyan digital lender fined$2,000 for unlawful data use in a second privacy violation.
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💸Fundraise and Exits
Moroccan super app ORA raised $1.9 Million in a pre-Series A funding round led by local investors Witamax and Azur Innovation Management.
Super apps in Africa
💰 Venture Funds
Nigeria secured a $40 Million Startup Seed Fund backed by Japan to boost tech innovation.
Nigeria Fintech Map 2024
🚀 Partnerships & Product Launches
Flutterwave funding
👔 Leadership Lineup
Founder of AntugrowjoinedCoinbase as Base East Africa Lead to help onboard Africa to Ethereum.
📰 News of the Week
Global B2B Payment Platform NilosExpanded into West Africa to Revolutionize Cross-Border Payments.
Common issues with B2B payment methods in Africa
The expansion is part of the company’s strategy to simplify financial transactions across borders by enabling instant payouts in the West African CFA franc (XOF) and integrating mobile money solutions. Since securing $5.2 million in early funding, the company has continued to enhance its services, including the introduction of Virtual EU IBANs in 2023 for businesses dealing in cryptocurrency across Europe.
👀 Eye Openers
8 business cases for stablecoins that actually bring value:
📑 Read of the week
Metrics are the 'new' Managers(Adia Sowho)
📖 Other News, Reads, and Media
Kenyan digital lender Whitepathfined $2,000 for unlawful data use in a second privacy violation.
Kenyan Alternative Lending Market Market forecast to grow at a CAGR of 20.1%
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Kola Aina, founder of African based VC, Ventures Platform on why local context is key to scalling globally.
🦉 Tweet of the Week
There has to be a better way 😢 pic.twitter.com/janA0VjwZl— Wiza Jalakasi (@wizaj) March 14, 2025
🎯 Fintech Opportunities
Opportunity to connect and network with founders, partners, and investors in the global stablecoin ecosystem. Register now!
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