Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
African Blockchain startup raised $5 Million.
The fintech subsidiary of the holding company of Nigeria’s largest bank by assets reported 10x profit surge.
A $28.2 Million fund was announced to invest in Africa’s banking innovations.
Fintech laid off 28 staff in Kenya as loan defaults and customer queries fell.
Trademark dispute betweentwo Nigeria’s Fintechstested Nigeria’s IP laws.
Tanzanian Fintech that has facilitated over $210 million in cumulative loans announced a new partnership with a Bankto fund more small and medium-sized businesses (SMBs).
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💸Fundraise and Exits
Hyperbridgeraised $5 Million to build Safer Cross-Chain Infrastructure for DeFi, Payments, and beyond.
AFRICAN BLOCKCHAIN VENTURE FUNDING
💰 Venture Funds
Swedfund commited $28.2 Million in AfricInvest’sFinancial InclusionVehicle.
AFRICA FINTECH FUNDING BREAKDOWN BY FUNDING TYPE AND SECTOR IN H1 2024
🚀 Partnerships & Product Launches
Tanzanian Fintech Ramani that has facilitated over $210 million in cumulative loans partnered with Tanzania Commercial Bank (TCB) to fund more small and medium-sized businesses (SMBs).
Tanzanian SMEs
👔 Leadership Lineup
Tala laid off 28 staff as loan defaults and customer queries fell.
📰 News of the Week
Trademark dispute between Paystack and Zap Africa tested Nigeria’s IP laws.
Paystack’s launch of its consumer product “Zap” sparked a legal dispute with Zap Africa, a crypto startup claiming trademark infringement. Zap Africa argued the name causes confusion and has hurt its business and fundraising efforts. Both companies have filed trademarks under similar classes, including financial services, and each issued cease and desist letters to the other.
Paystack defended its use of “Zap by Paystack,” saying the name is distinct and widely used by other companies. With neither side backing down and trademark filings overlapping, the case may go to court. Legal experts say the outcome could shape how trademark laws are interpreted for tech startups in Nigeria.
👀 Eye Openers
How to make it big in Africa
📑 Read of the week
Lessons from cross-border payment conversation with 50+ Tanzanian business owners (John Haule)
📖 Other News, Reads, and Media
Access corp’s fintech arm, Hydrogen, reported a 10x profit surge.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Tobi Asu-Johnson, the founder of Zap Africa, to discuss his vision for building Africa's biggest crypto wallet.
🦉 Tweet of the Week
One of the less popular views I hold is that the Silicon Valley story of pivoting into or massively expanding (domestic) TAM is a myth for African founders.
We all know the legendary underestimated TAM stories from SV. Uber going from limos to capturing the mobility market.…— Stephen Deng (@mrstephendeng) April 18, 2025
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