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Credable Secures $2.5 Million Seed to Expand Its Digital Banking Offering Into Africa
Dubai-based fintech group, Credable has raised a $2.5 million seed round led by a pan-African VC fund, Ventures Platform Fund IV LP.
- Categories
- Technology
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech
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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).
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- digital finance, fintech, MSMEs
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Analysis: How US Bank SVB’s Failure Could Impact Latin America
Tightening credit conditions resulting from the collapse of Silicon Valley Bank (SVB) could restrict financing in emerging market economies such as Latin America.
- Categories
- Finance
- Region
- Latin America
- Tags
- digital finance, failure
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India’s Anti-Money Laundering Laws Will Now Apply to Crypto Transactions
India's cryptocurrency exchanges will have to report suspicious activity to the government's Financial Intelligence Unit.
- Categories
- Finance, Technology
- Region
- Asia Pacific
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Do Formal Savings Accounts Lead to Better Results for Low-Income Users?: Lessons from Two Customer-Centric Research Studies in Africa
The Savings Learning Lab was a six-year initiative that supported learning among Mastercard Foundation’s savings-focused financial inclusion programs across Africa. Program partners Savings at the Frontier and Scale2Save employed two different research approaches to better understand the impact of formal savings accounts on the lives of low-income people. Jenny Morgan at FinEquity discusses these approaches and the insights they generated, which went beyond access and usage to reveal the nuances of clients' savings preferences and behaviors.
- Categories
- Finance
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South African Digital Lender Lulalend to Launch Banking Product Off the Back of $35 Million Series B
The digital lender, launched in 2014, has raised $35 million in a Series B round led by international impact investor Lightrock, with participation from new investors.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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Delivering on Mass Market Insurance in Africa: Debunking the Myth of Low Demand
Africa’s insurance penetration rate in 2019 was only 2.78%, significantly lower than the global average — and insurance usage is concentrated among the urban elite, with minimal adoption among the people with the most risk of financial shocks. According to Ted Pantone at Turaco, there's a widespread belief in the industry that this lack of uptake means African customers don't see value in the benefits of insurance. But he argues that Turaco’s rapid growth in Africa is debunking that myth. He explores three aspects of the company's model that have enabled it to unlock African customers' latent demand for insurance.
- Categories
- Finance, Telecommunications
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PhonePe Raises $350 Million From General Atlantic at $12 Billion Valuation
Walmart-owned PhonePe on Thursday said it has $350 million in its latest funding round from General Atlantic at a pre-money valuation of $12 billion.
- Categories
- Finance, Investing, Telecommunications
- Region
- Asia Pacific
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