Polaris Bank, a Nigeria-based retail bank, recently announced it launched its own digital banking platform called VULTe. according to Polaris, VULTe’s products and services are designed to help customers’ lifestyles as individuals and make their business become “bigger and better.” Polaris revealed: “At VULTe,… Read More
Bankly, a Nigeria-based fintech, has reportedly secured $2 million through its seed funding round, with was led by Vault. Founded in 2018 by Tomilola Adejana and Fredrick Adams, Bankly states it provides a USSD based savings product where users fund their account using Bankly vouchers nationwide. “We… Read More
A Nigerian crypto trader is claiming that they sold off all their coins (crypto-assets) following the government’s directives regarding cryptocurrencies. The trader also noted that they’ve now withdrawn all their proceeds, but they haven’t “seen a dime” in their bank account and it’s been more… Read More
Kuda, a Nigeria-based digital-only banking startup, announced earlier this week it secured $10 million through its latest investment round, which was led by European venture capital Target Global, with participation from Entrée Capital and SBI Investment. Founded in 2018 and launched in 2019, Kuda describes itself as… Read More
Payments platform Stripe has acquired Nigeria-based Paystack, which is a startup that aims to make it easier to integrate various payment services. The acquisition may be valued at over $200 million, according to TechCrunch which cited sources familiar with the matter. Patrick Collison, CEO at… Read More
Nigerian fintech platform Okra announced on Monday it has secured a $1 million pre-seed fundraise from Sub Saharan Africa focused tech venture capital firm, TLcom Capital. The funding will go toward Okra’s efforts to build the infrastructure for Africa’s next wave of fintech innovation. Launched… Read More
PalmPay, an Africa-based payment startup, announced this week it is waiving fees on all money transfers and has launched a new ₦100 million COVID-19 support fund. According to PalmPay, the waiving of fees offer is now available for any amount to any Nigerian bank until… Read More
Although the overall progress on reducing poverty has been steady during the past few decades, about half or 50% of the global population still has to live on less than $6 per day. Catalyst Fund is a newly established VC fund with a goal to… Read More
Trulioo, an on-demand global identity verification company, announced on Monday it has expanded its identity verification coverage services to Nigeria and Ghana through GlobalGateway, its marketplace of identity data and services. According to Trulioo, GlobalGateway’s coverage in Nigeria and Ghana will help financial institutions accurately… Read More
San Francisco-headquartered Migo, a Fintech firm that has developed a cloud-based lending solution, revealed on December 3 that it secured $20 million following the first closing of its Series B investment round. New York-based Valor Capital Group, an international VC firm with a special focus… Read More
OPay, a Nigeria-based mobile money service and ride-hailing app, revealed on November 18 that it had acquired $120 million in funding through a Series B investment round just months after it raised $50 million in a separate round. The African venture capital market has been… Read More
UK based Fintech money transfer service Azimo has partnered with leading African payments business Interswitch Group. The announcement came during a UK trade delegation to Africa arranged by the PM’s office. Azimo was the loan Fintech to join the small group of firms traveling to… Read More
Paxful, a global peer-to-peer bitcoin technology company, announced on Thursday it is set to build a blockchain technology incubation hub in Lagos, Nigeria, as part of its growing investment in Africa. The company reported that it has appointed Chuta Chimezie as Regional Director of Africa. He will be responsible… Read More
Nigeria officially has its first bobsled team, all thanks to the team’s crowdfunding campaign on GoFundMe. The team, which consists of female athletes Seun Adigun, Ngozi Onwumere, and Akuoma Omeoga, launched the initiative in January, seeking $75,000 so that they could get the 2018 Winter Olympic… Read More
Digital financial service company, P2P Cash, announced on Friday it has launched a new money transfer service from George and South Carolina to Nigeria. The company reported that it now offers cross-border money transfer without any fees. P2P Cash, which is a division of software… Read More
Nigerian Kudi Capital Management Ltd announced the public launch of Kudimoney, a fully licensed online lending platform offering unsecured personal loans to consumers in Nigeria. Kudimoney aims to differentiate itself from OneFinance, Kiakia, C24, Snapcredit and QuickCheck by offering uncollateralizedloans to individuals within one hour. The company platform counts over 5,000 registered… Read More
Crowdfunding is a global phenomenon but it is obviously evolving at different speeds in different countries. Africa is one region where the new form of finance can be utilized to benefit the economy. A recent report published by the CrowdfundingHub highlights a single country in… Read More
Emerging Crowd, is UK’s first investment-based crowdfunding platform focusing exclusively on frontier and emerging markets, is now fully operational, according to information provided by the company. Emerging Crowd launched with two “pilot issuers’ in mid-2015 and as of this month is now fully operational. Emerging… Read More
Pavegen has partnered with Shell and Akon in its biggest project yet: Africa’s first people & solar powered football pitch (soccer field for the yanks). The field incorporated 96 energy tiles beneath the turf. The switch was flipped this past Friday representing another successful implementation of… Read More
Nigeria’s Sterling Bank Plc, which manages Social Lender, a modified peer-to-peer lending platform, has increased the minimum amount by three-fold for lending on Social Lender’s social media platforms, according to Guardian News. Besides the increase from N3,000 to N10,000, Sterling Bank also said that it is targeting 6,000… Read More
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