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Tag: Fintech

Fintech startup Blnk raises US$23M in funding to accelerate financial inclusion in Egypt 

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EGYPT – Blnk, a fintech startup that enables instant consumer credit in Egypt, has raised US$23.7 million in equity and debt funding, and US$8.3 million in securitized bond issuance to accelerate financial inclusion within underserved communities across the country.  The funds will support further development of Blnk’s Artificial Intelligence-powered lending infrastructure and the financing of the company’s fast-growing portfolio of customers. …

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VC firm Quona Capital secures US$332m funding to boost fintech solutions 

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AFRICA – Quona Capital, an emerging market venture capital (VC) firm, has raised US$332 million for its third fund, exceeding its US$250 million aim and significantly exceeding the US$203 million it disclosed for its second fund in 2020. This raises the VC’s total fund raised to over US$745 million.  The funding will help fintechs establish solutions that have an impact on…

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Fintech startup MoneyFellows closes US$31m Series B funding round to accelerate its growth

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EGYPT – Egyptian fintech startup MoneyFellows has announced the first close of its Series B round funding with a US$31 million investment to help it accelerate its growth and move into new markets. The startup raised a US$4 million Series A round back in 2020, and the US$31 million first close of its Series B was led by CommerzVentures, Middle…

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Fintech Yellow Card receives first-ever African crypto licence

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BOTSWANA – Yellow Card, a Pan-African cryptocurrency exchange, becomes the first cryptocurrency company on the continent to be granted a Virtual Asset Service Provider (VASP) licence to operate in Botswana. The licence, in accordance with Section 11 of the Virtual Asset Act, 2022, was issued by the Non-Bank Financial Institutions Regulatory Authority [NBFIRA] on the 29th of September 2022 and…

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Fintech startup Moneyhash launches its services in Africa

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EGYPT – MoneyHash, Egyptian fintech startup, has launched its services across Africa after a successful launch in the MENA region earlier this year. The startup announced a US$3 million pre-seed funding round in February as it emerged from beta, and has now expanded across Africa. MoneyHash has now rolled out its product in Sub-Saharan Africa, starting with Nigeria, Kenya and…

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valU acquires minority stake in fintech company Kiwe to accelerate its growth

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EGYPT – valU, an Egypt-based Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, has announced the purchase of a minority share in local fintech company Kiwe, the first social payment app in Egypt that allows onboarding of the unbanked group. EFG Hermes Finance, EFG EV Fintech, dfin Holding, and Marakez are among the company’s current shareholders. The acquisition of a minority share…

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Fintech startup Nexta secures US$3m investment to prepare for its formal launch

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EGYPT – Egypt-based fintech startup Nexta has announced a US$3 million investment from e-finance, to prepare for its formal launch. In March of this year, Nexta also received a US$2.2 million pre-Seed round headed by Egypt-based fintech startup Disruptech, with participation from global investors. total amount raised since its inception last year is now at US$5.2 million. Nexta is a…

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Mobility fintech startup Moove secures US$16m to expand its operations

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AFRICA – Moove, a mobility startup that provides revenue-based car finance and financial services to mobility entrepreneurs, has secured a £15 million (US$16.73m) fund from Emso Asset Management to expand its operations in the United Kingdom. The African startup has a growing worldwide client base of mobility entrepreneurs and just started in the United Kingdom. Its first foray into Europe.…

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Fintech startup Maplerad raises US$6m seed round to deepen its reach across Africa

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NIGERIA – Nigerian fintech startup, Maplerad has raised US$6 million in seed funding led by Peter Thiel’s Valar Ventures. The fund will enable the acquisition of more customers for Maplerad, enhance the process to get additional licenses and build its team, as well as deepen its reach across Africa. Other investors were Golden Palm Investments Corporation, Michael Vaughn — ex-COO,…

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Fintech platform FlapKap closes US$3.6m seed round to increase its capacity

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EGYPT – FlapKap, a tech-enabled revenue-based financing platform in the Mena region, revolutionising e-commerce growth, has announced the close of its US$3.6 million seed round. The round included participation from Bolt by QED, Nclude, Outliers, and A15. This latest capital injection comes six months after the company’s pre-seed raise and coincides with the company recording significant milestones of a MoM…

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