Thndr, an Egyptian digital investment platform, raises $15.7m to fuel expansion into UAE and Saudi Arabia, launches beginner and pro tools, and applies for Egypt’s asset management licence.
Fintech
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A new report urges fintech investors in Africa to back payment infrastructure over consumer apps, warning that ignoring core systems like APIs and FX layers could mean missing the market’s biggest opportunity.
Nigerian fintech Carrot Credit raises $4.2m to scale its asset-backed lending model, helping Africans unlock loans using stocks, crypto, and fixed income as collateral.
Egyptian fintech Thndr secures $15.7m to expand in MENA, launches new products for retail and pro investors, eyes UAE and Saudi market growth.
Catalyst Partners Middle East acquires Qardy in a SPAC deal signalling growing investor appetite for fintech innovation in North Africa.
PalmPay tops the Financial Times’ 2025 list of Africa’s fastest-growing fintechs, reporting strong revenues, 15 million daily transactions, and plans to expand into four more African countries by year-end.
Airtel Africa has postponed the IPO of its mobile money unit to 2026, pushing back its original 2025 target as it focuses on expanding its digital payments business.
MoneyFellows raises $13m to digitise traditional savings groups and expand beyond Egypt, starting with Morocco later this year.
Access Holdings’ consolidation phase sets the stage for Access Bank to expand digital platforms, boost retail banking, and drive financial inclusion across Africa.
Nigerian fintech company Bankly has been acquired by an investment firm seven months after it appointed new MD. The fintech’s licence, offerings, and two million customers will now be integrated with the investment firm’s portfolio.
GetEquity, a Nigerian equity crowdfunding platform, has achieved profitability by pivoting to debt notes. The platform has processed over ₦500 million since introducing debt notes.
Lendsqr’s AI credit scoring tool uses financial, voice, and video data to assess loan risk in Nigeria, aiming to speed up approvals and fight fraud while promoting financial inclusion.
Faced with mounting regulatory levies, a steep rate spread, and the world’s highest cash reserve ratio, Nigerian banks are left with little choice but to shift some of the burden to customers — perpetuating a disturbing trend.
POS agents have become essential to financial access in Nigeria, especially in rural areas. However, rising fees are placing a heavy burden on the very people they were meant to help.
Moniepoint has launched MonieWorld, a digital banking platform for African immigrants, starting in the UK. The service begins with remittances to Nigeria, but aims to offer full financial support to the diaspora.
OPay’s valuation climbs to $2.75B in 2024, up from $2B in 2021, driven by a growing user base and continued market expansion.
Stitch has secured new funding of $55 million to expand its end-to-end payment solutions, building on past acquisitions and partnerships to grow across Africa.
Happy Pay has teamed up with Peach Payments to bring interest-free, deposit-free BNPL options to thousands of South African online merchants.
Africa now holds over half of the world’s mobile money accounts, with 1.1 billion registered mobile money accounts.
Umba, a digital bank in Kenya, has secured $5M in funding from Star Strong Capital to grow its loan book. With a sixfold revenue increase driven by vehicle and SME financing, the fintech is poised to expand its offerings and solidify its position in Kenya’s market.
PayTic, a Moroccan fintech startup, has raised $4 million to scale its payment automation solutions across North and Sub-Saharan Africa.