September 5

Anchor Closes $2.4 Million to Scale Banking-As-A-Service for African Businesses

YC-backed embedded finance fintech, Anchor, has raised $2.4 million in a seed round led by Goat Capital with participation from FoundersX, Rebel Fund, Pioneer Fund, Y Combinator, Byld Ventures and Future Africa among others.

Anchor’s partnership with regulated financial institutions enables fintechs and SMEs to create and embed financial services in their core products. Using Anchor’s APIs, fintechs and even regular businesses can generate bank accounts, issue cards, make and receive payments seamlessly, and offer savings and investment products without needing to acquire expensive licences.

Photo courtesy of WorldRemit Comms.

Source: TechCabal (link opens in a new window)

Finance, Technology
digital inclusion, financial inclusion, fintech, MSMEs