Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
India based Baas Fintech expanded in Africa with $100 Million funding round
A Fintech Investment platform secured a $50K prize from the Ecobank Fintech challenge.
A $100 Million debt fund was launched to fund African tech startups.
African Unicorn expanded its Remittance service to 49 US states.
Nigeria based Wealth tech platform stopped its virtual card service over fluctuating exchange rate and provider issues.
The long wait is almost over
It's happening - early bird tickets on sale!@twifintech x @TechCabal present: Lagos Moonshot Fintech Happy hour, Oct 11, proudly sponsored by @usesmileid with support from @paystack
Seeking just one more sponsor so we can accommodate more guests 🙏🏾https://t.co/YjWDTVRbcj pic.twitter.com/QAGJ0h4Xbd— Wiza J. (f/acc) (@wizaj) September 23, 2024
💸Fundraise and Exits
Daba Finance secured US$50K from Ecobank Fintech Challenge with its one-stop investment platform for trading stocks, bonds, and other financial products.
$100 Converted to the currencies of various African Countries!
💰 Venture Funds
Amplify Growth Partnershiplaunched a $100 million growth debt fund, which aims to provide debt capital to tech-focused companies across the MENA.
Despite the funding winter, debt funding contributed 37% to total funding in 2023
🚀 Partnerships & Product Launches
Risestopped virtual card service over fluctuating exchange rate and provider issues.
Africa has the lowest credit card penetration in the world
SendApp by Flutterwaveextended remittance reach to 49 U.S. States with MainStreet Bank partnership.
Flutterwave Funding Rounds
Ownership of Cryptocurrency
👔 Leadership Lineup
Binance Executive, Tigran Gambaryan’s Delayed Justice.
Tigran Gambarya
📰 News of the Week
M2P Fintech expanded to Africa with a $100 Million Funding round.
M2P Team
Africa-focused private investment firm Helios Investment Partners led a $100 million Series D funding round for India based M2P Fintech which offers next generation financial services technology to 200+ banks,300+ lenders, and 800+ fintech engagements serving over 50+ million end users.
Madhusudanan R, co-founder and CEO of M2P Fintech said: “this capital infusion will not only reinforce our leadership in India – where we've established a robust, comprehensive ecosystem – but also accelerate our ambitious global expansion efforts. Africa, with its rapidly growing digital economy and pressing need for financial inclusion, presents immense potential for fintech innovation. We're thrilled to partner with Helios, whose deep understanding of the African market, coupled with our powerful platform capabilities, will position us well to deliver on our mission of fostering financial inclusion and innovation”
👀 Eye Openers
9. First problem being solved: POS and online checkout for merchants: Companies like Paystack, Flutterwave, and more recently Paymob are exploding.
📑 Read of the week
Stablecoins and cross-border payments.(Frontier Fintech)
📖 Other News, Reads, and Media
The Central Bank Of Nigeriaplanned to penalize banks failing to load ATMs with cash.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
AMA with Iyin Aboyeji, Co-founder of two African Unicorns; Flutterwave and Andela.
🦉 Tweet of the Week
Okay, let's just quickly talk about the cross-border payments piece. Short thread?
As the name implies, (a)cross-border payment transactions involve two countries; originating country and destination country.
Each country is governed by its own rules while most countries are… https://t.co/Zwp46VXIXi— Benjamin Dada (@DadaBen_) September 25, 2024
🎯 Fintech Opportunities
People will be talking about this event for weeks after it happens.
3 sponsors confirmed. 2 more slots remaining. If you’re keen, this is the time. Please reach me at [email protected]. Historically, ALL our Africa events sell out completely. People will be talking about this event for weeks after it happens. @twifintech delivers. https://t.co/WGo2V74CcI— Wiza J. (f/acc) (@wizaj) August 15, 2024
Main sponsors confirmed. few more slots remaining. If you’re keen, this is the time. Please reach out at [email protected].
Made in Tanzania 🇹🇿 with 💚
