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Nigerian financial management app for merchants Kippa bags $8.4M in new funding
Kippa, the Nigerian startup improving the lifecycle of small businesses across the country with its financial management and payments platform, has raised $8.4 million in an oversubscribed seed round. The…
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African tech took center stage in 2021
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. With high-profile visits from the most famous Jacks (Ma and Dorsey), a long-awaited first…
African fintech OPay valued at $2B in SoftBank Vision Fund 2-led $400M funding
Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. The round, which…
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…
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…
Opera’s OPay still plans Africa expansion on Nigerian super app
Opera’s Africa fintech startup OPay remains committed to building a multi-service super app in Nigeria as the foundation to expand on the continent. OPay also continues to operate ORide for…
Opera and the firm short-selling its stock (alleging Africa fintech abuses) weigh in
Internet services company Opera has come under a short-sell assault based on allegations of predatory lending practices by its fintech products in Africa. Hindenburg Research issued a report claiming (among…
Nigeria’s Paga acquires Apposit, confirms Mexico and Ethiopia expansion
Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. That’s just part of Paga’s news. The Lagos based startup will also…
Jumia, DHL and Alibaba will face off in African e-commerce 2.0
The business of selling consumer goods and services online is a relatively young endeavor across Africa, but e-commerce is set to boom. Over the last eight years, the sector has…
2019 Africa Roundup: Jumia IPOs, China goes digital, Nigeria becomes fintech capital
2019 brought more global attention to Africa’s tech scene than perhaps any previous year. A high-profile IPO, visits by both Jacks (Ma and Dorsey) and big Chinese startup investment energized…
Payment startup Chipper Cash raises $6M for Southern Africa expansion
African cross-border fintech startup Chipper Cash has raised a $6 million seed round led by Deciens Capital. The San Francisco-based company offers mobile-based, no fee, P2P payment services in six…
Africa Roundup: Nigerian fintech gets $360M, mints unicorn, draws Chinese VC
November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian-focused payment ventures. That is…
Startups Weekly: Chinese investors double down on African startups
In this week’s newsletter: China’s pivot to Africa, another big scooter funding and a new entry to the unicorn club.
