Finance
Fintech News Trending

NANS Calls for Immediate Reversal of N50 Fintech Transfer Levy as September 9 Deadline Hits

The National Association of Nigerian Students (NANS) has raised its voice against the newly introduced N50 Electronic Money Transfer Levy (EMTL), which is set to take effect from September 9, 2024. This levy mandates a deduction of N50 for every electronic transfer of N10,000 and above through fintech platforms like OPay and Moniepoint. In a […]

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Image: Mitesh Popat
Fintech

Mitesh Popat’s Appointment as CFO Signals a New Era for Flutterwave

Flutterwave, a leading payments technology company in Africa, has recently welcomed Mitesh Popat as its new Chief Financial Officer. Popat’s appointment marks a pivotal moment for the company, bringing with him two decades of extensive experience in global financial services that spans North America, Europe, the Middle East, and Africa. His deep expertise and track […]

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Fintech Startups

Kredete’s Game-Changing $2.25M Investment: Helping African Immigrants Build Credit and Manage Transfers.

Kredete, a groundbreaking financial software platform, has just secured $2.25 million in seed funding to bridge a major gap in financial services for African immigrants. This funding round, led by BFF and supported by investors like Techstars and the Tezos Foundation, underscores Kredete’s commitment to transforming how African immigrants manage their finances. Empowering Financial Futures […]

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Business Finance

Verve to launch the OPay Instant Debit Card.

In line with simplifying financial transactions and deepening financial inclusion across the country, Nigeria’s leading financial service platform OPay has partnered with Africa’s leading payment cards and digital tokens brand; Verve to launch the OPay Instant Debit Card. With over 500,000 agents pan-Nigeria, OPay will leverage its agent network for the issuance and distribution of […]

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Business Economy Finance

Yellow Card gets $40 million dollars Series B funding

Pan-African cryptocurrency exchange Yellow Card has announced the close of its $40M Series B funding led by Polychain Capital. Other investors participating in the round include Valar Ventures, Third Prime, Sozo Ventures, Castle Island Ventures, Fabric Ventures, DG Daiwa Ventures, The Raba Partnership, and others. According to a statement, the company will use the funding to drive business […]

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Business Finance

Kuda in trouble? Nigerian Neobank incurs over N6 Billion loss in 2021

The last two years have seen losses for Kuda MFB, a neobank with a Nigerian microfinance bank license. According to the company’s financial report, reviewed by Business Verge, it lost $6,092,554,866 ($14,214,681) by the conclusion of the 2021 fiscal year, an increase of 602% over the $2,025,295 loss it suffered in 2020. The company’s sales […]

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Finance Technology

E-payments in Nigeria hit monthly all-time high of N33.2 trillion in August 2022

Data from the Nigeria Inter-Bank Settlement Systems (NIBSS) has shown that in August alone, Nigerians made around N33.2 trillion in electronic transactions using the NIBSS Instant Payment platform (NIP). The figure marked an all-time high for the platform since its launch in 2011, and brought the total value of electronic transactions in the last 8 […]

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Business Finance

Google provides $4 million in equity-free funding to 60 African companies.

At the Transcorp Hilton Hotel in Abuja, Google announced that 60 African startups have been selected for the second cohort of its Google for Startups Black Founders Fund.  Each of the selected startups will receive support in the form of a 6-month training programme that includes tailored workshops, community-building sessions and access to a network […]

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Finance Startups Technology Venture Capital

Nigerian B2B fintech, Duplo, raises $4.3 million in seed round

Duplo, a Nigerian B2B payments startup, has raised $4.3 million in seed funding. This comes only seven months after the company announced a $1.3 million pre-seed investment, bringing its total funds raised to $5.6 million. According to the company, the funds will be used to launch new products and expand into new business areas in […]

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Finance Technology

Eyowo Launches Better Card, a Digital First Mastercard

This week, Eyowo unveiled its Digital First payment offering, The Better Card, which is Mastercard-certified. As one of the first partners in Nigeria to join Mastercard’s Digital First Card Program, Eyowo provides its customers with a best-in-class digital banking experience. This includes digital access to card information, unparalleled payment security, and access to a wide […]

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