WeeTracker’s Post

scale a Fintech 📲Card-Issuing Platform, Raises $700,000 to Expand in Africa 🌍 South African fintech startup, scale which focuses on card-issuing enablement for fintechs, has raised a 💰US$700,000 pre-seed funding round to drive its expansion into Kenya, Ivory Coast, and Zambia. Key Takeouts from their Growth 📈💰📊 Journey: - Expert-Led Innovation: Founded by Miranda Perumal in 2023, Scale has built an impressive tech stack that accelerates the go-to-market and revenue strategies of fintech companies by simplifying card issuance and onboarding.    - Strategic Funding: The pre-seed round is led by prominent early-stage investors like 54 Collective (formerly Founders Factory Africa) and First Circle Capital, with additional backing from Sunny Side Venture Partners and industry expert angels. - Market Expansion: Scale is set to enter Kenya, Ivory Coast, and Zambia with its robust infrastructure, having already secured banking and network partners, solidifying its position as a key enabler of card issuance and payment solutions across Africa. Read more about Scale’s journey and future plans here (https://lnkd.in/dtygYftf).

What’s happening within the region? Egypt - Fintech startup MNZL raises $3.5M seed round to enhance its technology and scale operations in Egypt Egypt - Fintech startup Swypex launches following a $4M seed round for platform designed to solve financial inefficiencies Senegal - B2B eCommerce startup Maad raises $3.2M seed funding round to bolster its local growth and explore expansion into other West African countries. South Africa - Fintech startup @Adumo acquired by Lesaka for $85.9M to enhance its proprietary banking and payment technology Jack Dorsey's TBD partners with Chipper Cash for Pan-African expansion on cross border payments. Accion Launches $152.5M Fund, Source: Africa Fintech Summit

Are you an early-stage fintech startup with an idea, a working prototype, or showing early traction? Are you based in Lagos and available for the pitch prep and pitch session? Check out the First Bank of Nigeria Ltd. Fintech Innovators Pitch Programme. First Bank of Nigeria Ltd. is hosting its 6th annual Fintech Summit with the theme “Banking on Partnerships”. It is scheduled to take place on the 13th & 14th of November 2024. It will feature a series of engaging sessions, keynote speeches, and networking opportunities. As part of this event, FirstBank is launching the Fintech Innovators Pitch Programme to support early-stage fintech startups and foster innovation in the financial services ecosystem. The programme will provide selected startups with intensive training and mentorship, all in preparation for the opportunity to pitch their solutions to FirstBank, investors, and industry leaders. Selected winners will receive support from FirstBank to bring their products to market, including strategic assistance, resources, and network access. You also stand a chance to engage potential early-stage investors, gain national exposure and additional benefits. Applications close on October 27, 2024, Sis. Apply here: https://lnkd.in/dGsJHhfF #SisterlyHQ #Fintech #Innovators #Pitch #Startups #Funding #Opportunties #Program

FinTech and Thailand I. 7 Fast-Growing Fintech Startups in Thailand ( link: https://lnkd.in/dmAVKDBG) II. Thailand’s Digital Banking License Race Heats Up with Bids from Top Conglomerates (link : https://lnkd.in/dJcF9Dmh) #fintech #thailand #asean #fintechtowatch #startups

Flutterwave, a Nigerian fintech startup, achieved a remarkable 300% growth in transaction volume in 2020, processing over $9 billion. This impressive growth is a testament to the company's innovative payment solutions, which have attracted over 290,000 businesses globally. Founded in 2016, Flutterwave has rapidly expanded its footprint across Africa, becoming a key player in the fintech industry. With a mission to simplify payments for endless possibilities, Flutterwave offers various services, including payment processing, gateway solutions, and remittance services. The company's success is driven by its commitment to providing seamless and secure payment experiences, catering to various sectors such as e-commerce, travel, and hospitality. In addition to its impressive transaction volume, Flutterwave has raised over $235 million in funding, attracting investments from prominent firms like Tiger Global, Greycroft, and Y Combinator. This funding has fueled the company's expansion into over 33 African countries, enabling it to support diverse payment methods and currencies. Flutterwave's impact goes beyond financial growth. The startup has created thousands of jobs, contributing to economic development and financial inclusion across the continent. By empowering small and medium-sized enterprises (SMEs) with robust payment solutions, Flutterwave is playing a crucial role in driving digital transformation in Africa. This success story underscores the immense potential of African fintech startups in addressing the continent's unique challenges and opportunities. Flutterwave's journey from a fledgling startup to a fintech powerhouse is an inspiring example of innovation, resilience, and strategic vision in the rapidly evolving financial landscape. #CaseStudy #Fintech #AfricanStartups #Innovation #DigitalTransformation #EconomicDevelopment #SMEs #Investment #Growth

🔍 Let's Dive into Fintech Startups Challenges in Egypt Landscape with Mahmoud Bendary (Magdi); Senior Payment Project Manager at Halan 🔍 🌟💡 Thank you Mahmoud for sharing a deep understanding of the intricacies and hurdles faced by Fintech startups in Egypt. ⏳ Can't wait for the full newsletter? Stay tuned! We'll be sharing it with you shortly. #Fintech #Challenges

Venture investments in fintech have slowed amid the downturn, but African startups in the sector could be on track for another record year. Outsize valuations and choppy market conditions have caused investors to become more cautious when backing fintech startups. Several countries, including the US, have seen a significant drop in deal activity. But Africa’s burgeoning fintech market is bucking the trend. So far this year, the sector has seen $1.3 billion invested across 151 deals, according to PitchBook data. By comparison, $1.6 billion was invested across 190 deals in 2021. #fintech #africa #funding https://lnkd.in/dNY8VcqM

In 2023, Nigerian companies secured 42% of seed investments in African FinTech startups. Source: Fintech Global Research Nigeria is rapidly establishing itself as a FinTech hub in Africa. A testament to this growth is the staggering statistic that Nigerian companies captured a substantial 42% of all seed investments poured into African FinTech startups in 2023. This surge in investment underscores the immense potential and innovation within Nigeria's FinTech ecosystem. As the industry continues to mature, we anticipate even greater strides and opportunities for businesses to leverage FinTech solutions for growth and efficiency. Are you looking to tap into the burgeoning Nigerian FinTech market? Let's discuss how we can help you navigate this dynamic landscape and capitalize on the opportunities it presents. Click https://bit.ly/44Wsb9c to request a Demo and see how Udara360 can revolutionize your business! . . . #Fintellia #Udara360 #UdaraCoreBanking #CoreBankingSystem  #CoreBankingSystemForStartups #CoreBankingSystemForDigitalBanks #CoreBankingSystemInNigeria #CoreBankingSystemInAfrica #CoreBankingSystemForFintech #DigitalBanking #Udara360Banking #NextGenFintech #InnovationInFinance #FutureOfBanking #TechStartups #FinancialServices #BankingSolutions #FintechSolutions #FintechInfrastructure #StartupFinance #DigitalTransformation #UdaraForStartups #BankingInnovation #FinTech

🎥 Looking back at our very first event of 2024! Our FinTech panel featured a distinguished group of panellists who shared their insights on the industry's future: 🔹 Sam Yearsley, Head of Venture Building - Spring Studios, discussed the seamless integration between fintechs and banks, the ease of setting up in Bahrain, and the extensive support from the ecosystem. 🔹 Ali Ghuloom, Group Head of Technology & EA - National Bank of Bahrain, emphasized the critical role of fintech in the region, the collaboration between banks and accelerators, and the importance of education in driving innovation. 🔹 Mohamed Alaali, Chief Strategy & Sustainability Officer - Bahrain Islamic Bank - BisB, outlined the strategic partnership between banks and fintechs, highlighting Bahrain as the financial hub with the potential to create more unicorns in the region. Watch the video to catch all the highlights and insights! 🌟 #FinTech #Innovation #Bahrain #FinancialHub #Startups #Ecosystem HQ by Hope Ventures StartUp Bahrain