Categories africa

26 posts

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SVB-led $100M investment makes Chipper Cash Africa’s ‘most valuable startup’

Fintech in Africa is a goldmine. Investors are betting big on startups offering a plethora of services from payments and lending to neobanks, remittances and cross-border transfers, and rightfully so. Each of these services solves unique sets of challenges. For cross-border payments, it’s the outrageous rates and regulatory hassles involved with […]

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African fintech OPay is reportedly raising $400M at over $1.5B valuation

Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. The fundraising is coming two years after OPay announced two funding rounds in 2019 — $50 million in June and $120 million Series B in November. The $170 million raised so […]

How UK-based Lendable is powering fintechs across emerging markets

What moves the needle for digital lenders is serving loans to their respective customers. But where does this money come from? The pool is usually equity or debt. While some lenders use the former, it can be seen as folly because, over time, the founders tend to lose ownership of […]

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Dear Sophie: How can I get my startup off the ground and visit the US?

Sophie Alcorn Contributor Share on Twitter Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives. More posts by […]

Japanese VC Samurai Incubate closes $18.6M fund for African startups

Samurai Incubate, a Tokyo-based venture capital firm, announced today it has closed its “Samurai Africa 2nd General Partnership” fund, totalling 2.026 billion yen (~$18.6 million). According to the firm, the fund was oversubscribed as it targeted 2 billion (~$18.4 million) and a total of 54 investors joined as LPs. One […]

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Nigeria’s SEC warns investment platforms to stop trading ‘unregistered’ foreign securities

In a circular released by Nigeria’s capital market regulator SEC today, investment platforms providing access to foreign securities might be treading on dangerous grounds. According to the SEC regulations that have just been brought to light, these platforms are trading foreign securities not registered in the country and have been […]

Flutterwave and PayPal partner to allow African merchants to accept and make payments

It is nearly impossible for businesses in some African countries to receive money from PayPal. While the payments giant has not given reasons why this is so, speculation hints at factors like insufficient regulation and poor banking security in said countries.  That might be a thing of the past for […]

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African payments company Flutterwave raises $170M, now valued at over $1B

The proliferation of fintech services across Africa remains in full swing as investors remain bullish about the opportunities that abound in the sector. Today we behold another unicorn: African payments company Flutterwave announced that it has closed $170 million, valuing the company over $1 billion. New York-based private investment firm […]

This pan-African freelance platform is the first Zimbabwean startup backed by Techstars

On the 25th of January, Techstars Seattle announced its 12th class featuring 10 startups from different parts of the world. The accelerator, which has accepted only a handful of African startups, included one from Zimbabwe in this class. AfriBlocks is a global pan-African marketplace of vetted African freelance professionals. The startup […]

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Jack Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’

Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said on Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up […]