Fintech

Access Holdings is entering a consolidation phase to strengthen its operations, paving the way for Access Bank to accelerate digital innovation


C-One Ventures has acquired Nigerian fintech and microfinance bank Bankly. Co-founder and CEO Tomilola Majekodunmi will stay on in an advisory role during the transition


GetEquity has reached profitability by shifting to local debt notes, processing over ₦500 million in transactions.


Lendsqr has launched an AI-powered credit assessment tool in Nigeria that analyses financial, voice, and video data to detect fraud, improve loan accuracy, and boost access to credit, especially for underserved borrowers.




Moniepoint debuts MonieWorld, a digital banking platform for African immigrants. Starting in the UK, it offers remittances to Nigeria and plans to expand into full diaspora banking services.


OPay’s valuation increased to $2.75 billion in 2024, driven by a growing user base and expanded product offerings. Its ability to maintain this valuation despite modest growth reflects solid business performance and sustained investor confidence.


South African fintech Stitch has received fresh funding of $55 million to expand its payment suite. The company is building on past acquisitions and partnerships to deepen its footprint across Africa’s digital finance space.


Happy Pay partners with Peach Payments to expand BNPL in South Africa, offering interest-free, deposit-free checkout options. The move targets credit-averse shoppers and aims to drive higher conversions for merchants.


Mobile money is booming in Africa, with over 1.1 billion accounts and $1.1 trillion in transactions in 2024 alone.


Umba, a digital bank in Kenya, has raised $5 million in debt financing from Star Strong Capital to expand its loan portfolio after seeing rapid growth thanks to strong demand for vehicle and SME loans.


Moroccan fintech PayTic has secured $4 million in funding to accelerate the growth of its payment automation platform with plans to expand into North and Sub-Saharan Africa.


Ivorian fintech Djamo has raised $17M to scale its digital banking services across Francophone Africa having reached over 1 million users.


Flutterwave has launched the Send App in Ghana, making it easier for users to receive international remittances via mobile money and bank transfers.


PalmPay has introduced Verve debit cards, extending its digital wallet services to physical payments. The move aligns with rivals like OPay and Moniepoint, catering to users who still value card-based transactions despite a broader industry shift toward digital and mobile transfers.


Payhippo has pivoted from SME lending, rebranded as Rivy, and raised $4 million to clean energy financing, tapping into Africa’s growing climate tech sector.



Paystack has launched its first consumer product after nine years. The product called Zap is expected to help users make bank transfers in under 30 seconds.


Mukuru is expanding across Africa from its home base in Zimbabwe to tap into the mobile money boom, as Sub-Saharan Africa leads global growth in digital payments.


Access Holdings’ consolidation to boost Access Bank’s digital and retail growth

Access Holdings’ consolidation phase sets the stage for Access Bank to expand digital platforms, boost retail banking, and drive financial inclusion across Africa.

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Bankly acquired by investment firm seven months after appointing new MD

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.

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How GetEquity became profitable by shifting from equity to debt investments

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.

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Lendsqr wants to change loan disbursement with AI-generated credit score for Nigerians

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.

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Almost 50% of Nigerians turn to informal credit as bank loans become expensive 

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.

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Nigeria’s POS agents bridge the gap to financial inclusion but at a high cost

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.

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MonieWorld: Moniepoint’s foot in the door for diaspora remittances

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.

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OPay’s valuation climbs to $2.75B despite slowdown in venture funding

OPay’s valuation climbs to $2.75B in 2024, up from $2B in 2021, driven by a growing user base and continued market expansion.

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South Africa’s Stitch secures $55M in new funding round

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.

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BNPL in South Africa gets boost with Happy Pay and Peach Payments partnership

Happy Pay has teamed up with Peach Payments to bring interest-free, deposit-free BNPL options to thousands of South African online merchants.

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Africa leads the world with 1.1 billion mobile money accounts and $1.1 trillion in transactions

Africa now holds over half of the world’s mobile money accounts, with 1.1 billion registered mobile money accounts.

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Umba secures $5m debt facility to grow loan book in Kenya

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.

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Moroccan fintech PayTic secures $4M to expand payment automation across Africa

PayTic, a Moroccan fintech startup, has raised $4 million to scale its payment automation solutions across North and Sub-Saharan Africa.

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Djamo raises $17M to serve 1 million users with inclusive banking

Ivorian fintech Djamo has raised $17M to expand its digital banking services across Francophone Africa, now serving over 1 million users with savings, investment, and payment tools.

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Flutterwave takes Send App to Ghana 

Flutterwave has launched its Send App in Ghana, offering a secure, low-cost way to receive international remittances via bank transfers and mobile money platforms like MTN MoMo and Telecel.

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PalmPay adds Verve debit cards to strengthen product suite amid shifting payment trends

PalmPay has launched Verve debit cards to expand its services, joining rivals OPay and Moniepoint in offering physical payment options to users.

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Payhippo pivots to energy financing, rebrands as Rivy after $4M raise

Payhippo has rebranded as Rivy and raised $4 million to support its pivot from SME lending to clean energy financing, tapping into Africa’s growing climate tech sector.

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Why bank transfers are becoming Nigeria’s go-to payment method

Bank transfers are rapidly becoming Nigeria’s preferred payment method, following huge investments in payment infrastructure. In this article, we explore some developments driving this shift.

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Paystack launches first-ever consumer product in nine years

Paystack has launched its first consumer product after nine years. The product called Zap is expected to help users make bank transfers in under 30 seconds.

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Mukuru taps into mobile money boom for African expansion

Mukuru is expanding across Africa to tap into the mobile money boom, as digital payments rise and Sub-Saharan Africa leads global growth.

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Access Holdings is entering a consolidation phase to strengthen its operations, paving the way for Access Bank to accelerate digital innovation


C-One Ventures has acquired Nigerian fintech and microfinance bank Bankly. Co-founder and CEO Tomilola Majekodunmi will stay on in an advisory role during the transition


GetEquity has reached profitability by shifting to local debt notes, processing over ₦500 million in transactions.


Lendsqr has launched an AI-powered credit assessment tool in Nigeria that analyses financial, voice, and video data to detect fraud, improve loan accuracy, and boost access to credit, especially for underserved borrowers.




Moniepoint debuts MonieWorld, a digital banking platform for African immigrants. Starting in the UK, it offers remittances to Nigeria and plans to expand into full diaspora banking services.


OPay’s valuation increased to $2.75 billion in 2024, driven by a growing user base and expanded product offerings. Its ability to maintain this valuation despite modest growth reflects solid business performance and sustained investor confidence.


South African fintech Stitch has received fresh funding of $55 million to expand its payment suite. The company is building on past acquisitions and partnerships to deepen its footprint across Africa’s digital finance space.


Happy Pay partners with Peach Payments to expand BNPL in South Africa, offering interest-free, deposit-free checkout options. The move targets credit-averse shoppers and aims to drive higher conversions for merchants.


Mobile money is booming in Africa, with over 1.1 billion accounts and $1.1 trillion in transactions in 2024 alone.


Umba, a digital bank in Kenya, has raised $5 million in debt financing from Star Strong Capital to expand its loan portfolio after seeing rapid growth thanks to strong demand for vehicle and SME loans.


Moroccan fintech PayTic has secured $4 million in funding to accelerate the growth of its payment automation platform with plans to expand into North and Sub-Saharan Africa.


Ivorian fintech Djamo has raised $17M to scale its digital banking services across Francophone Africa having reached over 1 million users.


Flutterwave has launched the Send App in Ghana, making it easier for users to receive international remittances via mobile money and bank transfers.


PalmPay has introduced Verve debit cards, extending its digital wallet services to physical payments. The move aligns with rivals like OPay and Moniepoint, catering to users who still value card-based transactions despite a broader industry shift toward digital and mobile transfers.


Payhippo has pivoted from SME lending, rebranded as Rivy, and raised $4 million to clean energy financing, tapping into Africa’s growing climate tech sector.



Paystack has launched its first consumer product after nine years. The product called Zap is expected to help users make bank transfers in under 30 seconds.


Mukuru is expanding across Africa from its home base in Zimbabwe to tap into the mobile money boom, as Sub-Saharan Africa leads global growth in digital payments.