Guten tag,
Victoria from Techpoint here,
Here's what I've got for you:
- LemFi acquires Irish currency exchange platform Bureau Buttercrane
- Moove acquires Brazilian rental startup Kovi
- South Sudan lifts social media ban after 5 days
LemFi acquires Irish currency exchange platform Bureau Buttercrane
LemFi, the Nigerian fintech known for serving immigrants across 22 countries, just acquired Irish currency exchange platform Bureau Buttercrane. This deal, approved by the Central Bank of Ireland, gives LemFi an Irish licence, meaning it can now operate across the entire European Economic Area (EEA).
Why does this matter? Well, before this, LemFi had a UK licence from its 2021 acquisition of RightCard, but thanks to Brexit, that wasn’t enough to process European transactions directly. The Irish licence solves that problem, allowing LemFi to expand seamlessly across Europe using a system called "passporting."
LemFi already had the tech; what it needed was a legal pathway to grow in Europe. The company even partnered with Dutch firm Modulr Finance to start operating in Europe while waiting for the Irish approval!
Now that the deal is done, LemFi is setting up its European HQ in Dublin, hiring local talent, and strengthening ties with regulators. With $1 billion in monthly payment volume already flowing through its platform, the company is ready to take a slice of Europe’s massive $64 billion remittance market.
Of course, expansion isn’t a walk in the park. Europe is a tricky market with different payment systems and regulations in every country. For example, in France, many people use “Carte Bancaire” instead of Visa or Mastercard. If LemFi doesn’t support it, they’ll miss out on a huge chunk of customers.
That said, LemFi isn’t new to this game. After successfully expanding into Asia, they know what it takes to break into a new market. With a fresh $53 million Series B funding round under their belt, they’re gearing up to take on competitors and become a go-to platform for immigrants sending money globally.
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Moove acquires Brazilian rental startup Kovi
Nigerian mobility startup Moove has acquired Brazilian car rental startup Kovi in an all-share deal, expanding its reach in Latin America. Moove officially entered Mexico in October 2024, and now, with Kovi in the mix, it’s making an even bigger play in the region.
For those unfamiliar, Kovi launched in 2018 as part of Y Combinator’s W19 batch. It was founded by ex-99 executives (think Brazil’s version of Uber) to help ride-hailing drivers rent cars. Over time, it expanded to serve food delivery workers too. Before this deal, Kovi had already raised $104 million in a Series B funding round, boasting over 11,000 drivers in Brazil and Mexico.
With this acquisition, Moove now has a whopping 36,000 vehicles in its fleet, spreading across 19 cities. But Kovi isn’t disappearing — the brand will keep running, and its management team stays put.
Moove’s CEO, Ladi Delano, says the deal strengthens their position as a global mobility leader while also bringing Kovi’s smart IoT tech and driver behaviour models into the fold. Translation? More innovation, efficiency, and safety in AI-powered mobility.
On the flip side, Kovi’s CEO, Adhemar Milani Neto, is excited about the partnership, saying he’s been impressed with Moove’s mission-driven approach since they first started expanding into Africa. He sees this as a game-changer, bringing expertise and scale like never before.
This acquisition isn’t just about fleet size — it also pushes Moove’s annual revenue to $275 million. The company has been making serious money moves lately, raising $100 million in a round led by Uber last year and even teaming up with Waymo to manage driverless cars in Phoenix and Miami.
Clearly, Moove is on a roll, and with this latest deal, it’s looking to take the global mobility space by storm.
South Sudan lifts social media ban after 5 days
South Sudan has lifted its social media ban, meaning Facebook, TikTok, and other platforms are back online across the country. The National Communications Authority (NCA) confirmed this in a letter to telecom providers on Monday, saying the violent videos that triggered the shutdown have been removed.
If you missed the backstory, here’s what happened: Last week, videos surfaced online showing attacks on South Sudanese refugees in Sudan’s Wēd Medan, leading to violent protests and retaliatory killings in South Sudan. The government responded by blocking social media for at least 30 days, claiming the content was fueling unrest. But now, just days later, the ban has been lifted.
Officials say the incident highlights the need for a “balanced approach” to handling online content — essentially, trying to keep social media from inciting violence while also protecting people’s rights.
Social media blackouts are nothing new in Africa. From election periods to protests, governments have often pulled the plug when things get tense. Reports show that between 2015 and 2021, 30 African countries restricted access to social media, with at least seven doing so to suppress protests.
Just last year, Kenya faced major Internet disruptions during youth-led protests against a finance bill. Mozambique also saw multiple internet restrictions in just two weeks due to riots. While many governments claim these shutdowns are for security reasons, critics argue they’re just ways to silence dissent.
For now, South Sudanese users can scroll freely again, but with the way things go, who knows how long that will last?
In case you missed them
- Swedfund supports Africa’s digital and climate infrastructure with $41 million investment
- Nigeria’s recapitalisation policy could trigger a wave of bank mergers
- Africa records high rate of national ID, driver’s licence fraud in 2024 amid surge in AI-driven incidents
What I'm watching
- The Existential Crisis Iceberg
- Do all MEN think the same?
Opportunities
- Meta is looking for a Public Policy Manager in Anglophone West Africa. Apply here.
- MasterCard is hiring a Manager for Product Management in Emerging Markets Acceptance Solutions. Apply here.
- AltSchool Africa is hiring several instructors. Apply here.
- Fast Forward Livestock Innovation Lab, in partnership with GIZ-SAIS, offers innovators the chance to turn their prototypes into commercially viable solutions for the livestock value chain, with up to ₦10 million in funding, expert mentorship, and guidance from an Entrepreneur-in-Residence. Apply here.
- The World Health Organization (WHO) is recruiting suitably qualified candidates to fill several roles. Apply here.
- Glovo is looking to fill certain roles in Nigeria, Kenya, Uganda and Morocco. Apply here.
- Kuda is looking to fill different roles. Apply here.
- Paystack is hiring for several roles. Apply here.
- Techpoint Africa is hiring a Market Research and Innovation Analyst. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Celebrate the New Year with delightful stories like Smart Couples. Call 421 on your Airtel line now — you won't be charged! Alternatively, call 07080601391 at your network's regular rate. Learn more here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a superb Thursday!
Victoria Fakiya for Techpoint Africa.
