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Press Release: LoftyInc Capital Announces $43 Million First Close of its New Pan-African Seed Fund
LoftyInc Capital Management has secured a $43 million first close for its new LoftyInc Alpha Fund, a late-seed investment vehicle aimed at scaling Africa’s most promising tech startups, particularly in Nigeria, Egypt, Kenya, and Francophone Africa.
- Categories
- Technology
- Region
- Sub-Saharan Africa
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Oze Secures New Funding to Expand Lending Management Solution Across Africa
The undisclosed round will support the company’s efforts to scale its Lending Management System (LMS), a solution designed to help financial institutions provide unsecured digital loans to small businesses.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
- Tags
- corporations, digital finance, fintech, lending, microfinance, MSMEs, scale
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Africa’s Startup Funding Crisis Deepens as Mastercard Foundation Exits Top VC Firm
Mastercard Foundation pulls out of its $100 million commitment to African venture capital firm 54 Collective.
- Categories
- Investing, Technology
- Region
- Sub-Saharan Africa
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Nigeria-Born Banking Startups Target Emerging Market Gig Workers
The startups are not banks in themselves, but partnerships with lenders licensed by central banks make them de facto digital banks.
- Categories
- Finance, Technology
- Region
- Sub-Saharan Africa
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M-PESA Safaricom, Dashen Bank & CashGo Partner to Enhance Remittances in Ethiopia
M-PESA, Dashen Bank, and CashGo launch a seamless international remittance service, enabling Ethiopians to receive money instantly into mobile wallets.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Safaricom Ethiopia’s M-PESA Revenue Dips Despite 245% Jump in Registrations
Safaricom launched M-PESA in Ethiopia in August 2023 with Kenya extending its M-PESA Global service to the country to facilitate cross-border money transfers.
- Categories
- Finance, Technology, Telecommunications
- Region
- Sub-Saharan Africa
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Uber-Backed Mobility Fintech Moove Acquires Brazil’s Kovi, Takes ARR to $275 Million
"Delano said Moove’s acquisition of the São Paulo-based Kovi marks a significant step toward the company’s goal of building the world’s largest rideshare fleet."
- Categories
- Finance, Transportation
- Region
- Sub-Saharan Africa
- Tags
- e-mobility, fintech, partnerships
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South Africa’s Fintech Scene: NjiaPay Raises USD $1 Million and 6DOT50 Enables Crypto Car Payments
NjiaPay, a South African fintech company, raised USD 1 million in a pre-seed funding round.
- Categories
- Finance, Technology, Transportation
- Region
- Sub-Saharan Africa
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