TradeDepot raises $10m pre-Collection B funding for growth and new monetary merchandise

Nigerian B2B eCommerce startup, TradeDepot, has raised a $10m pre-Collection B fairness spherical. The spherical was co-led by Partech Africa, Worldwide Finance Company (IFC), Ladies Entrepreneurs Finance Initiative (We-Fi) and MSA Capital. This comes two years after the startup raised $3m…

Safaricom’s financials present how a lot stake it owns within the new M-Pesa enterprise

In 2007, M-Pesa was launched as a product by UK telecommunications company, Vodafone and its subsidiary, Safaricom, the largest telco operator in Kenya. Since then, it has become one of the largest mobile-based financial services in Africa as over 40 million users and…

Zambian fintech startup, Lupiya receives $1 million funding

Lupiya, a Zambian primarily based microfinance startup has acquired an funding of $1 million from Enygma Ventures, a US enterprise capital (VC) fund. Based in 2015, Lupiya is an online marketplace for microloans. It’s a branch-less, modern digital microfinance platform that leverages…

The way forward for Nigeria’s finance is edging in the direction of decentralisation

Lots of this era have been born at a time when banking meant waking up early sufficient to stroll right into a financial institution department to entry finance-related companies. These have been the analogue days when one wanted to be…

Ecobank launches a Pan-African banking sandbox that can characteristic Flutterwave, Africa’s Speaking, and different fintechs

Arguably some of the influential sectors within the tech house, fintechs have at all times been on the forefront of progressive options for the African monetary market. Nevertheless, it has had its justifiable share of failures and a high entry barrier which has highlighted…

OPay removes mortgage function, OKash, amidst heavy backlash on its lending charges

Since Chinese language-backed and client Web firm, Opera, launched OPay in 2018, it has aggressively disrupted the Nigerian know-how area, launching an array of consumer-focused providers with engaging incentives. These embrace transportation verticals ORide, OCar, and OTrike; meals service, OFood;…

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