Hi Fintech friends 👋,

Here are the highlights of what happened in African Fintech this week;

• A stablecoin fintech bootstrapped its way to $5.3 Million in TPV.
• Two Japanese VCs launched $20 Million fund targeting African fintechs.
• Africa's most valuable Fintech expanded to power Africa-Asia cross border payments.
• YC alum and ex-FairMoney executive returned with travel-focused fintech.

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• South African fintech iKhokha “to run as per normal” after Nedbank’s $93 million acquisition.

💰 Venture Funds

• Two Japanese VCs launched $20 Million fund targeting African fintechs.

🚀 Partnerships & Product Launches

• South Africa opened a national payment system to fintechs under new rules.
• Flutterwave partnered with iPaylinks to power Africa-Asia cross border payments.

👔 Leadership Lineup

• Leatherback shifted to enterprise remittance under new leadership.
• YC alum and ex-FairMoney executive returned with travel-focused fintech, Timon.

📰 News of the Week

• Betaling bootstrapped its way to $5.3 Million in stablecoin TPV.

Bootstrapped without outside funding or a tech platform, Betaling processed $5.3 Million in cross-border stablecoin payments last year using WhatsApp, spreadsheets, mobile money, and trusted networks. The team is now raising $250K to build its MVP, automate operations, and scale.

👀 Eye Openers

• “Tanzania is by several measures the most expensive mobile money market for consumers and businesses in the world by percentage cost of value transacted” 

📑 Read of the week

• Comparing South African startups & Amapiano artists (for some reason). (Tech Aways)

📖 Other News, Reads, and Media

• Kenya’s tech sector overtook banking, manufacturing, and retail as the leading destination for foreign direct investment.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Interview with Mike Hudack, CEO of Sling and a seasoned product leader from Facebook, Monzo, and Deliveroo. He shared how Sling is using stablecoin infrastructure to build a global social payments network, aiming to make money movement as instant and free as communication.

🦉 Tweet of the Week

🎯 Fintech Opportunities

• African fintechs are invited to apply for Visa Accelerator Program Cohort 5. 

Made in Tanzania 🇹🇿 with 💚

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