Miami-based Onyx Private, a Y Combinator-backed digital bank that provided banking and investment services for high-earning Millennials and Gen Zers, is terminating its bank operations. In a March 13
Nine months after raising a Series A round, Majority has raised tens of millions in both equity and debt financing for its mobile bank for migrants. The fintech announced today that it has raised a $3
Kuda, the challenger bank based in Nigeria and the U.K., has joined the ranks of tech companies in Africa that are pruning their workforce. The news of the layoffs, which was first disclosed to TechCr
In 2015, the emergence of fintechs such as Flutterwave and Paystack changed the game for online businesses in Africa by making it easier to integrate payments into customer interfaces without building
Arc, a company that aims to give SaaS startups “a way to borrow, save and spend” in one place, has raised $20 million in a Series A round of funding. The raise comes seven months after Arc
Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry continues to grow, with a re
When Pedro Conrade started Brazilian digital bank Neon in 2016, he was a 23-year-old business school student who was frustrated with the service and costs associated with traditional banking in his co
Canadian digital bank Neo Financial has raised $145.2 million (CAN$185 million) after surpassing the 1 million customer mark, the company announced today. Valar Ventures led the investment, which bri
Copper, a digital banking service aimed at teens, has raised $29 million in Series A funding in a “preemptive” round led by Fiat Ventures. The investment comes just over seven months after the sta
In a country where 50% of its 100 million people are active smartphone users, two out of every three individuals have little or no access to formal financial services in Egypt. With banks doing thei
Luno, a subsidiary of Digital Currency Group (DCG), today announced that it is launching Luno Expeditions, an early-stage investment arm to back fintech and crypto/web3 startups globally. The fund wi
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Agency banking is big business in Nigeria and sub-Saharan Africa. It involves agents or merchants, who act as human ATMs, offering financial services such as transfers, savings and payouts to the unde
Six months after its $20 million Series A, payroll connectivity platform Pinwheel just announced that it has nabbed another $50 million in a round led by new investor GGV Capital. Pinwheel serves ne
A virtual bank is soon coming to Indonesia. WeLab, a Hong Kong-based fintech unicorn, announced Tuesday its acquisition of Bank Jasa Jakarta (BJJ), an Indonesian commercial bank. With the deal, WeLab
UK equity crowdfunding business Seedrs – who’s merger with rival Crowdcube was earlier blocked by competition regulators – has been acquired by start-up investing platform Republic in a
On October 3, “Big Brother Naija,” a reality show sponsored by Nigerian social payments company Abeg, came to a rapturous close after 72 days on air. The show, which commenced on July 24, is the m
Tala, an emerging markets digital lender that offers loans between $10 to $500 to consumers and small business owners, has raised $145 million in Series E funding. Upstart, a company founded by ex-Goo
The neobank wave is beginning to take shape in Africa, particularly in Nigeria, where new fintechs are trying to take on legacy banks by providing cheaper and more personalized banking services. Spark
A.ID, an identity and compliance platform with a focus on high-risk clients, has closed a pre-seed investment round of $500,000 from angel investors including former employees of RobinHood, Square and
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