Moniepoint has raised an additional $90 million in its Series C round, attracting investors like Visa and Google as it expands its banking services in Nigeria and the UK.
Fintech
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Moniepoint has raised an additional $90 million in its Series C round, attracting investors like Visa and Google as it expands its banking services in Nigeria and the UK.
Operating behind the scenes, Kuunda enables banks and enterprises to lend at scale. With new funding, it’s moving into savings, launching in new markets, and building a financial literacy bot.
CBN’s new agent banking rules, especially the exclusivity clause, could shrink agent flexibility, squeeze margins, and push Nigeria’s fintech sector toward consolidation.
Flutterwave UK reported a £2.27M loss in 2024, up from £485K in 2023, despite higher revenue. Rising admin costs, investment losses, and shrinking cash reserves drove the decline.
Moniepoint reported a $1.2M loss in its first year in the UK. It also acquired Bancom Europe to fast-track its expansion across the UK and EEA markets.
From April 2026, Nigerian POS agents can work with only one principal under new CBN rules aimed at enhancing security, fairness, and transparency in agent banking operations nationwide.
After three painful failures, Akinsola Jegede decided to fix cross-border payments. His startup, VitalSwap, now helps thousands move millions seamlessly across continents.
By issuing its own virtual account numbers through PocketApp, PiggyVest aims to fix payment delays, boost user trust, and streamline how millions fund their savings and investment accounts.
Pennee, launched in 2021, is pivoting from lending to offering an AI-powered credit infrastructure, helping lenders verify, underwrite, and collect more efficiently while empowering borrowers to make smarter credit decisions.
When Nigerians move abroad, foreign banks often reject them due to lack of credit history. Wale Akanbi, ex-CTO of Aella, is building Bleyt, an AI and stablecoin-powered fintech to help Nigerians port their credit data.
By linking remittances to credit-building, Kredete wants to help African immigrants gain financial leverage abroad.
Katlego Maphai exits the CEO role after a decade, handing over leadership to co-founders Matshoba and Wattrus as Yoco enters a new stage of growth and operational focus.
PayU Kenya has shut down after six years, appointing a liquidator to wind up its operations in the country.
OPay has crowned the first grand prize winners of its MyOPay Security Vote Challenge in Lagos, rewarding creative entries that showcased its seven in-app security features and reinforcing digital safety awareness among millions of Nigerian users.
The Bank of Ghana has suspended remittance services of eight fintech firms, including Flutterwave and Tap Tap Send, for breaching 2023 inward remittance guidelines.
Pesapal has won a VAT exemption case in Kenya, a move that sets a major legal precedent for fintechs and limits KRA’s scope in taxing digital financial services.
FAAN pilots contactless payment at airports with Paystack’s NFC cards, part of a broader shift to cashless tolls and improved service efficiency.
BankservAfrica has rebranded to PayInc SA, marking its shift from legacy systems to a digital-first, fintech-style payments platform for banks, fintechs, and startups.
SARB is allowing non-bank fintechs to access South Africa’s national payment system for the first time, under new rules aimed at modernising the financial sector.
Egypt’s stock exchange is going mobile. With the launch of the EGX app, it hopes to modernise investor access, increase transparency, and attract young, tech-savvy Egyptians into retail investing.