Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
Two funding deals were announced.
The $45 Billion startup, world's fourth-largest digital bank, confirmed that it is coming to Africa.
African earlier stage investor raised $43 Million to invest in seed and Series A startups.
Nigerian fintech resummed issuance of debit cards in partnership with Verve.
Two of Nigeria’s biggest payment companies have each partnered with AfriGo to bring contactless payments to Nigeria.
Nigeria based blockchain startup hit $658 Million in transactions as Nigerian banks turn to blockchain.
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💸Fundraise and Exits
Egyptian fintech startup Basatabought additional stake in Jordan’s MadfoatCom.
Share of monthly cryptocurrency value sent by Sub-Saharan Africa by asset;Jul 2022 - Jun 2023
Nigerian StableCoin Startup, IvoryPay, Secured Investment From Hedera after processing over $80 Million From Over 8K Merchants.
💰 Venture Funds
LoftyInc Capital raised $43 Million to invest in seed and Series A startups.
Top African countries by start-up funding
Antler VC entered Nigeria to back startup ideas with a $100K startup.
🚀 Partnerships & Product Launches
Carbon resumed issuance of debit cards in partnership with Verve.
Just 3% of Africans own 𝘤𝘳𝘦𝘥𝘪𝘵 cards — the lowest credit card penetration rate of any region worldwide
👔 Leadership Lineup
Brass planned Q1 2025 relaunch as co-founders receive no compensation after Paystack led acquisition.
Brass acquisition
📰 News of the Week
PalmPay and Moniepointpartnered with AfriGO to introduce contactless payments in Nigeria.
Ecommerce payment Providers in Nigeria, 2023
PalmPay, the Nigerian fintech with over 35 million users, has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria.
Nigerian fintech unicorn Moniepoint has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria.
👀 Eye Openers
Revolut, the $45 Billion startup, world’s fourth-largest digital bank, has confirmed that it is interested in the South African market.
📑 Read of the week
From Faceless Brand to Founder Fame.(Ikpeme Neto)
📖 Other News, Reads, and Media
Zone hit $658 Million in transactions as Nigerian banks turn to blockchain.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Lessons from processing cross-border payments; Interview with Justin Ziegler, Co-founder of Juicyway.
🦉 Tweet of the Week
👀Spotted on LinkedIn:
"Investing in Africa is like dumping stacks of $100 bills into the ocean during a storm, then jumping in after them trying to collect them all by hand" pic.twitter.com/PyoZSpwFSM— Emeka Ajene ✍🏽 (@eajene) March 10, 2025
🎯 Fintech Opportunities
Applications open for 4th Visa Africa Fintech Accelerator. Apply
Made in Tanzania 🇹🇿 with 💚
