Hi Fintech friends 👋,

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

• Nigerian Fintech raised $4.2 Million to help Africans access loans using digital investments as collateral.
• African startup funding hit over 40% Year on Year growth as the end of April, 2025.
• Egyptian lending startup acquired in landmark SPAC deal.
• Nigerian latest Unicorn hired ex-founders to become product managers.

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This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Carrot Credit raised $4.2m to help Africans access loans using digital investments as collateral.
• Egyptian fintech startup ElGameya raised a seven-figure investment to scale its modernisation and streamline the culturally rooted Rotating Savings and Credit Association (ROSCA) model. 

💰 Venture Funds

• African startups raised over $800 Million(up 40% + year on year) as of the end of April 2025 (exclude. exits), involving 163 start-ups and at least 225 unique investors.

🚀 Partnerships & Product Launches

• Sentz launched ‘Sentz Earn’ to help users earn up to 8% annually on their Stablecoin balance.

👔 Leadership Lineup

• New Fintech leadership style

📰 News of the Week

• Egyptian lending startup Qardy acquired in landmark SPAC deal.

Founded in July 2022, Qardy facilitates loans for MSMEs, with founder Abdel Aziz Abdel Nabi saying the startup’s goal was to be the “Amazon of lending”.

Since its launch, Qardy has established itself as a trusted partner for MSMEs and financial institutions, and now has over 6,000 corporate clients on its platform. It has executed over $12 million in loan transactions.

👀 Eye Openers

• “Across emerging markets, patient family capital has often succeeded where institutional investors could not by blending trust, networks, and long-term vision”

📑 Read of the week

• The Hard Truth About Credit in Africa: Watu's Woes and the Path to Sustainable BNPL. (Ibrahim Keji)

📖 Other News, Reads, and Media

• $142 Million dispute: Fidelity Bank responded to Supreme Court ruling, assures stakeholders.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Backing Africa's Boldest Ideas: A conversation with Launch Africa VC's Zach George.

🦉 Tweet of the Week

🎯 Fintech Opportunities

• This Week in Fintech is hiring for a Senior Marketing Manager. If you are interested or know of anyone who might be a good fit, get in touch!

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