Fintech Flutterwave acquires digital online platform Disha to grow its base

NIGERIA – Flutterwave, a fintech company, has acquired digital online platform Disha, that enables digital creators to curate, sell digital content, portfolios and receive payments from their audience worldwide. Flutterwave’s acquisition aims to improve the process of digital content creation for Disha users, enabling them to earn value for their creativity using the platform’s new payouts and collections solution. Disha has acquired over 20,000 users organically over 12 months. The acquisition will help grow its base by providing users with the ability to make, receive and withdraw money from their…

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DriveWealth partners Chipper Cash to enable affordable access to investing

UGANDA – DriveWealth, LLC, a provider fractional investing and embedded finance, has announced a partnership with Chipper Cash, a fintech startup enabling peer-to-peer money transfers and cross-border payments for nearly four million users. DriveWealth’s real-time fractional trading technology and API-based brokerage infrastructure will enable the Ugandan population to gain affordable access to investing in U.S. equities for the first time. Approximately 66% of Sub-Saharan Africa’s population did not have access to a bank account in 2020, according to the World Bank. Through its partnership with DriveWealth, Chipper Cash is empowering…

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Fintech firm Crossfin set to be acquired by consortium of investors for US$94m

SOUTH AFRICA – Crossfin Technology Holdings, a fintech investment firm, has been acquired by a consortium of investors, including Patrice Motsepe’s African Rainbow Capital (ARC), for R1.5 billion (US$ 94.71m). The consortium is led by Ethos’s Mid-Market Fund I and includes the founding Crossfin executive management team, EMMF I co-investors Ethos Artificial Intelligence Fund I, and empowerment investor ARC. Fairview Partners acted as financial advisors for the transaction, which will see the exit of founding investors Capital Eye Investments and the Multiply Group. “The transaction is considered a landmark deal…

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Fintech ImaliPay partners with Cellulant to drive gig workers’ financial inclusion

KENYA – ImaliPay, the one-stop financial platform for Africa’s gig workers, has partnered with pan-African payments company Cellulant for its payments infrastructure and solutions in Kenya and Nigeria. The ease of making and receiving payments for freelancers will be greatly improved through this partnership and will change the way gig workers experience making payments and the partnership will further drive financial inclusion by allowing ImaliPay users to access financial services quicker through Cellulant’s payment rails. Sanmi Akinmusire, Co-founder and COO of ImaliPay said that: “Most of the financial services provided today…

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Fintech startup Asilimia raises US$2m funding to expand its footprint

KENYA – Asilimia, a Kenyan-based fintech startup that is building the digital infrastructure to connect African MSMEs to the formal financial economy, has secured US$2 million to grow its team, deliver new services and expand into new markets in East Africa. The startup raised US$1 million in pre-seed funding from a wide range of investors, including two-time unicorn founder, Fredrik Jung Abbou (co-founder of Kry and Lendo), Norrsken Impact Accelerator, and other prominent founders from across Europe. It also raised US$1 million in a debt round that included Bpifrance and…

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FinTech company Busha raises US$4m to deepen its market position

NIGERIA – Busha, a Nigeria-based digital platform that helps people buy, sell and store cryptocurrency, has raised seed funding of US$4.2 million in a round led by Jump Capital. Cadenza Ventures, Blockwall Capital, CMT Digital, Greenhouse Capital, Raba Capital, and other investors also participated in the financing round. According to the company, the new funding will go towards deepening its market positioning in Nigeria, the leading crypto economy in Africa where all of its users are based. Founded in 2018 by CEO Michael Adeyeri and Chief Product Officer (CPO) Moyo…

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Ecommerce platform Jumia partners fintech vaIU to provide new online payment channels

EGYPT – Jumia, an e-commerce platform, JumiaPay the fintech electronic payments platform, and valU the Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay. The partnership allows JumiaPay as a payment gateway to manage the payment operations of valU consumers by linking valU and JumiaPay for electronic payment services. The deal will commence with an offer that clients will benefit from while shopping and paying in instalments over 9 months interest-free through…

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FinTech startup Hollydesk raises US$325k pre-seed funding to expand its services and solutions

EGYPT – Hollydesk, a financial technology startup based in Cairo, has raised US$325,000 in a pre-seed funding round led by the angel investor Faisal Abdel Salam in participation with other investors. The funding will help Hollydesk to scale and pursue further the horizontal expansion of its offerings. The startup further intends to expand its services and solutions in new markets in the region. “We seek to use the new funding to develop technologies for our solutions, assign new competencies within the team, and launch other services that will be announced…

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Nigerian lending marketplace Evolve Credit launches cloud lending software

NIGERIA – Evolve Credit, the Nigerian lending marketplace, has launched Configure, its new cloud lending software that it says will power thousands of new loan providers over the next five years. Configure is an affordable bank-level core lending platform that enables lenders to build, launch, and manage any type of loan product end-to-end across multiple distribution channels. Speaking at the Press Conference, Akan Nelson, Founder and CEO of Evolve Credit, stated that Evolve Credit’s vision has always been the same: to make access to credit and financial products more inclusive,…

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Fintech startup KIWE closes first investment round to drive up its growth

EGYPT – KIWE, an Egyptian fintech startup, has closed its first investment round, to drive the startup’s growth by utilising the offerings of its investors. The round was led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used “We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments,” part of a statement by the company said. “Our vision is for…

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