Fintech in Africa
Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
African B2B Ecommerce raised $20 Million to double down on embedded finance.
Visa strategically invested in two African Fintechs.
West African VC raised $35 Million to back African growth startups.
Three biggest African Fintechs joined the newly launched stablecoin payment Network.
A new fund was announced to back replicated fintech startup models in emerging markets.
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💸Fundraise and Exits
Some of Visa’s investments in African Fintechs
South Africa’s DigiSquad raised funding to expand digital payments in underserved.
💰 Venture Funds
Fluent Venturesexpanded to back replicated fintech startup models in emerging markets.
Venture capital investment into African startups have slowed since 2022
Aruwa Capitalraised $35 Million to back high growth businesses in Ghana and Nigeria.
🚀 Partnerships & Product Launches
Lendsqr launched voice, video AI for loan assessments in Nigeria.
Top 10 loan apps in Nigeria
👔 Leadership Lineup
“Our biggest competitor in remittance is peer-to-peer transactions (people sending money back home through friends and family). Our approach isn’t necessarily to go head-to-head with Lemfi or Grey, it’s to go after the huge, untapped market; people still sending money manually”. Said Eniolorunda, Founder and CEO of Moniepoint.
Moniepoint by numbers
📰 News of the Week
Flutterwave, YellowCard, Onafriqjoined stablecoin-based payment network launched by company behind USDC.
Circle Internet Group, Inc., a global financial technology company and stablecoin market leader Launched Circle Payments Network to connect financial institutions to enable faster, lower-cost, and more transparent cross-border payments using USDC, EURC, and other regulated payment stablecoins. Flutterwave, YellowCard and Onafriq are among the announced Fintechs partners of the network.
👀 Eye Openers
Stablecoin adoption in Africa is accelerating
📑 Read of the week
Deep Dive: How Stripe's Paystack is able to offer a consumer app, Zap .(Fintech Bridge)
The Missed Opportunity: Why African Startups Should Be Building With, Not Against Legacy Businesses. (jumanne Mtambalike)
📖 Other News, Reads, and Media
Central Bank Of Nigeria released list of 108 IMTOs with commercial approval.
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Ola Oyetayo, Co-founder and CEO of Verto on how he has managed to build the biggest B2B cross-border payments company.
🦉 Tweet of the Week
A Nigerian fintech quietly cracked profitability in 2024.
With no new capital, they’ve now processed ₦500 million in debt notes, growing 10% MoM.
Here’s how GetEquity pivoted, survived, and found product-market fit (again): pic.twitter.com/hs3XPnwpEb— The Flip (@TheFlipAfrica) April 25, 2025
🎯 Fintech Opportunities
Opportunity to connect and network with founders, partners, and investors in the global stablecoin ecosystem. Register now!
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