Insurtech startup mTek secures US$3m investment from Finclusion Group

KENYA – mTek, an insurtech startup, has secured an additional US$3 million investment through both debt and equity from African-focused fintech platform, Finclusion Group. The startup had secured US$1.50 million (KSh170 million) investment from TrustGro- a non-deposit taking microfinance company to support the startup operations which primarily allows Kenyans access to paperless insurance products by partnering with local underwriters. The…

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Fintech startup Finclusion Group secures funding from Cairo Angels Syndicate Fund

MAURITIUS – Finclusion Group, a Mauritius-based fintech startup, has secured funding from the Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa. Finclusion Group is an Africa-focused fintech platform building out a full neobank offering for its users. The company provides earned wage access, BNPL and direct credit…

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Fintech company Finclusion Group secures US$20m pre-Series A funds for its expansion plans

AFRICA – Finclusion Group, a fintech that leverages AI algorithms to provide financial services to African customers through a variety of credit-centric products, has raised US$20 million in pre-Series A loan and equity funding. Andela and Flutterwave co-founder Iyin Aboyeji (who invested through his VC firm Future Africa), LendInvest founder Christian Faes, and ComplyAdvantage founder Charlie Delingpole are among the…

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FinTech Finclusion Group raises US$20m investment to expand its presence

SOUTH AFRICA – Finclusion Group, an African FinTech platform, has raised US$20 million (R283) in an investment round led by Lendable, a prominent FinTech debt financing provider. Finclusion provides safe financial services by combining superior proprietary artificial intelligence (AI) algorithms with cutting-edge technology, all while retaining accurate automated credit determinations. “The team that worked on making this raise happen has…

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