source; The Big Deal
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Here are the highlights of what happened in African Fintech this week: 👇
Nigerian Mobility Fintech eyed unicorn status with planned $300 million raise.
Nigerian Remittance Fintech acquired a UK card issuer to expand its offerings.
An ex executive sued a unicorn over stock options worth nearly $1 Million.
Central Bank Of Kenya Licenced additional 41 digital credit providers.
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💸Fundraise and Exits
CreditChek acquiredCreditCliq to bridge cross-border credit gaps.
💰 Venture Funds
African startups raised $254 Million in May.
👔 Leadership Lineup
Ex-Moniepoint executive sued unicorn over stock options worth nearly $1 Million.
📰 News of the Week
LemFiacquiredPillar, a UK card issuer to expand beyond remittance.
LemFi was Founded in 2020, the company now serves over two million users globally and processes over $1 billion in monthly transaction volume. It raised $33 Million in a series A round in 2023, and a $53 Million series B round in 2023, giving it the capital base to pursue international acquisitions like this. After acquiring Pillar, which raised ~ $17 Million pre-seed in 2022, LemFi will expand credit card services to its two million users.
👀 Eye Openers
In January 2025, LemFi acquired Buttercrane to leverage its Irish license and operate across the European Economic Area (EEA). Today, the company has also acquired UK-based startup Pillarn to expand its credit card offering to its two million customers.
Could strategic acquisitions like these be the new playbook for African fintechs looking to expand globally?
📑 Read of the week
From operators to founders: The Flutterwave alumni building Africa’s future. (Techpoint)
📖 Other News, Reads, and Media
Moove eyed unicorn status with planned $300 million raise.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Tosin Eniolorunda on how he turned Moniepoint to a $1 Billion company.
🦉 Tweet of the Week
Let me give you a moat if you invest in Africa fintech. The moat is market knowledge. Any company that didn’t die in the funding drought can’t be beaten by an upstart. Impossible. They’re alive because they knew something and they’ve learnt 1,000 things if they’re still growing.— STONΞ (@StoneAtwine) June 9, 2025
🎯 Fintech Opportunities
East African Fintechs can apply for €100K Grant funding from Developpp.
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