FairMoney
Nigerian digital bank FairMoney in talks to buy Umba in $20M all-stock deal, sources say
FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria…
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Despite glimmers of profit, most African neobanks remain in the red
It was only just over a year ago that McKinsey described Africa’s financial technology landscape as a “hotbed for investment.” Fast-forward to today and startups on the continent are facing many of the same problems plaguing fintechs in more mature markets like the U.K. and the U.S.: Valuations are tanking, growth is flagging, revenue targets…
Nigerian credit-led fintech FairMoney acquires PayForce in retail-merchant banking play
Nigerian credit-led digital banking platform FairMoney has acquired PayForce (sub-brand of YC-backed CrowdForce), a merchant payment services that serves small businesses, as the digital lender looks to broaden its financial…
Sudan’s first YC-backed startup is helping consumers protect and grow their wealth
Anglophone East Africa is home to over 400 million people, with half under 25. The region happens to be one of the fastest-growing globally; nevertheless, over 200 million people in…
Finclusion raises $20M to build out credit-led neobank offering across Africa
The digital banking space in Africa is taking shape as neobanks on the continent grow in numbers like their global counterparts. Venture capital bets from institutional investors in this class…
Fintech Farm nabs $7.4M to launch neobanks in Nigeria and other emerging markets
Fintech Farm, a newly launched fintech startup based in the U.K. that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 million in seed…
Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney
Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There…
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…
With over 1.3 million users, Nigerian-based fintech FairMoney wants to replicate growth in India
There are more than 1.7 billion underbanked people globally, the majority of which are from emerging markets. For them, accessing loans can be difficult, which is a problem fintechs try…
FairMoney raises $11 million for its challenger bank for emerging markets
Fintech startup FairMoney is building a challenger bank in Nigeria. The company first started offering microcredit and now plans to expand to current accounts and savings. FairMoney just raised an…
