fintech startup Archives - AfricaBusiness.com

15Oct

By Africa BusinessNo Comments

THE RISE OF FINTECH INNOVATION IN SA: GOING BEYOND PAYMENTS TO TRANSFORM ACCESS AND OPPORTUNITIES FOR STARTUPS

By Annelene Dippenaar Two decades ago, a startup or small business had limited options when it came to processing transactions, with cash being the only option for many. Startups by their very nature also lacked credit histories, making it difficult to apply for finance, and leaving them vulnerable to unaffordable loans when seeking financial support to fund their business needs. Today, the picture is very different, with access to digital finance platforms, management tools, and mobile banking transforming how these businesses can operate. According to the Centre for Strategic and International Studies (CSIS), digitalisation has enabled 700 million people in developing countries to gain access to formal financial services between 2011 and 2014, with 62% of adults having a bank or mobile...

Presenting the 2022 Partech Africa Report: Resilient African Tech Ecosystem Still Growing with $6.5 Billion Raised in 2022

24Jan

By Africa BusinessNo Comments

Fintech, Senegal News, Startups

Presenting the 2022 Partech Africa Report: Resilient African Tech Ecosystem Still Growing with $6.5 Billion Raised in 2022

Amid the drastic pullback in global VC funding, the African tech ecosystem stands out with +8% growth from 2021. Debt funding doubled in volume to $1.5B, accounting for nearly a quarter of the total funding. Fintech, still leading, attracted 39% of the total equity volume; Nigeria retained the top spot with 23% Partech Africa, the VC fund dedicated to technology startups in Africa, has issued its annual report on Africa Tech Venture Capital. The report, which aims to provide a practical picture of the state of the ecosystem, revealed that despite the global VC downturn, the African tech ecosystem grew faster than all other markets globally. Total funding invested into tech startups on the continent reached $6.5B, an increase of 8% vs 2021, spread across 764 deals - compared to 724 rounds...

17Dec

By Africa BusinessNo Comments

Fintech, South Africa News

Financial Inclusion across Africa starts here

Africa’s first digital in-store lay-by app is aiming to create financial inclusion throughout the continent – starting in South Africa. Local fintech startup LayUp is taking the lay-by process into the 21st century - for merchants and consumers - with a mobile app and rollout of a terminal app via payment & merchant solutions provider Dashpay, which will make the app accessible to millions of potential customers at thousands of POS points, nationwide. Nearly 24% of adults in South Africa are unbanked and R12bn in cash is believed to be held outside of the banking system. COVID-19 related lockdowns have sent unemployment figures soaring to an estimated 7.6 million, meaning that nearly 30 million people are locked out of the South African economy. More people are being forced to turn to...

12Oct

By Africa BusinessNo Comments

Fintech, Startups

FSD Africa backs fintech pioneer to build a new platform aimed at increasing access to carbon markets

FSD Africa, the UK Government’s flagship financial sector programme in Africa, is making an initial investment (£650,000) in a highly innovative digital solution connecting carbon credits from small-scale green projects across the global south to international buyers. The investment will deliver funding through the test phase of the solution being developed by Nick Hughes, who led the development of Africa’s revolutionary mobile money service M-PESA. Hughes is co-founder of 4R Digital, a green fintech start-up developing financial solutions for a range of business partners committed to climate positive projects in Africa spanning distributed solar energy, electric mobility and nature-based schemes. 4R Digital is building a solution that connects these projects to investors looking to offs...

12Oct

By Africa BusinessNo Comments

Fintech, Mauritius News, Startups

Peach Payments expands into Mauritius, serves as key event sponsor at Africa FinTech Festival

Peach Payments is pleased to announce that it has set up an office in Mauritius recently in pursuit of its pan-African expansion strategy. As a FinTech start-up that was set up in South Africa in 2012 and expanded into Kenya in 2018, the company is set to make a significant contribution to the pan-African FinTech landscape as a key event sponsor at the Africa FinTech Festival (AFF) which is being held in a virtual format by the Mauritius Africa FinTech Hub (MAFH) from 13 to 15 October 2021. Peach Payments is a world-class payment gateway offering simple, seamless and secure online payment services which enable businesses to easily accept payments on their websites and mobile apps, integrating with leading e-commerce platforms like WooCommerce, Shopify, Wix and Magento. As the organ...

22Sep

By Africa BusinessNo Comments

Agriculture, Fintech, South Africa News

HelloChoice: South African Agri-FinTech Start-Up Secures Major Standard Bank Investment

Leading South African founded and owned Agri-FinTech start-up HelloChoice has announced the finalisation of a major investment from Standard Bank, solidifying its market leading position as the premiere digital fresh produce and agricultural marketplace. HelloChoice is a proudly South African success story, founded in 2018 by Grant Jacobs and Graeme Jarvie, who had a vision to modernise the traditional way of buying and selling agricultural produce. Initially self-funded and based on a vision to build a thriving trading community, HelloChoice has also always been committed to addressing broader food security and socio-economic needs in this sector. HelloChoice is the first independent fresh produce trading platform with a broader ambition to promote economic prosperity and market effic...