African financial institutions typically scale their solutions using a mix of local and foreign tech. Appzone is one of the standout local fintech software providers for banks and fintechs, providing better pricing and flexibility. For over a decade, the Nigeria-based Appzone has functioned as an enabler (at payment rails and core infrastructure) within banking and […]
Bfree, a Nigerian startup enabling lenders recover debt ethically, gets $3M backing
Bfree, a tech-enabled debt collection startup based in Nigeria, was founded to automate and introduce ethical debt recovery processes after its founders witnessed the use and adverse effects of aggressive retrieval techniques, such as incessant calling and debt-shaming, by predatory digital lenders. After its launch in 2020, the startup introduced a number of scalable debt […]
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 and Kenya, in a $ 20 million all-stock deal, sources tell TechCrunch. The move signals FairMoney’s interest in growing its customer base by expanding into […]
Techstars-backed Nigerian edtech Klas raises $1M for global scaling of online teaching platform
Nigerian online teaching platform Klas has raised $ 1 million in pre-seed funding led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and several angel investors. Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas enables users to create and sell ebooks, courses, and live classes. The platform offers essential class components such […]
Report: Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs
Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian and Kenyan central bankers have said cryptocurrencies are too volatile to […]