Hakuna Matata Media 🐢🐢🐢’s Post

We snuck in at #42 !! If you are not already one of over 200,000 businesses taking advantage of our business rewards card and expense management platform, why not? More and more company directors are turning "it's what we have always done" into "why did we not do this sooner" Get in touch if you want to stop missing out! Or just go right ahead and apply here 👇 https://lnkd.in/dqE78FzU #fintech #business #cashback

💸 The Fintech Top 50 UK 💸 🦄 Fintech is one of the UK’s strongest startup sectors, with more than 1,500 high-growth fintech companies currently active, including three challenger bank unicorns. Collectively, UK fintech companies have raised £26.8b in equity funding so far, with a staggering £6.48b of that secured in 2022 alone. 📈 As they continue to grow, these fintech startups and scaleup companies are successfully disrupting the traditional banking and financial services industry, and catalysing innovation amongst incumbents. 🏆 Beauhurst have ranked the UK’s top 50 fintech companies by the total amount of equity investment received to date, including; 💸 Checkout.com 💸 Revolut 💸 Monzo Bank 💸 SumUp 💸 Atom bank 💸 Capital on Tap 💸 Thought Machine 💸 Wise 💸 Tide Check out the full list of 50 on Beauhurst.com👉 https://lnkd.in/eejuuiR #TechNews #Fintech #UKTech #ChallengerBank #DigitalBanking

This week saw $557.5M raised across 16 fintech deals globally, marking a slower week for the sector. Notable deals included Canadian WealthTech KOHO securing $190M and UK marketplace lender Carmoola raising $131M in debt from NatWest. Despite the low number of deals, the fintech landscape remains diverse with WealthTech and CyberTech sectors leading the charge. For more details on these trends and sector insights, read the latest report on FinTech Global. https://lnkd.in/e_cqSgnQ #Fintech #FintechNews

Nigerian fintech Moniepoint Group raises a staggering $110 million Series C #Moniepoint, a Nigerian #fintech powerhouse founded by Tosin Eniolorunda, has raised $110 million in a Series C funding round to expand its services across Africa. The investment was led by Development Partners International (DPI)’s African Development Partners (ADP) III fund, with participation from new investors like Google’s Africa Investment Fund and Verod Capital. Existing investor Lightrock also joined the round. Founded in 2015, Moniepoint initially provided infrastructure and payments technology for banks and financial institutions. It has since evolved into Nigeria's leading business banking provider, processing over 800 million transactions monthly, with a total value exceeding $17 billion. The company is Nigeria’s largest merchant acquirer, powering most of the country’s Point of Sale (POS) transactions. Last year, Moniepoint entered the personal banking market through its subsidiary, Moniepoint Microfinance Bank, experiencing a remarkable 2,000% growth in personal finance customers. This latest funding round is expected to push Moniepoint over the $1 billion unicorn valuation mark. The capital raised will be used to build an all-in-one, integrated platform for African businesses, offering services such as digital payments, banking, foreign exchange (FX), credit, and business management tools. Tosin Eniolorunda, the founder and group CEO, stated: "The proceeds from this raise will speed up our efforts to drive financial inclusion and support Africa’s entrepreneurial potential." The article on Finextra in the first comment.

Mega congratulations to portfolio company MNT-Halan for securing $157.5 million in funding to fuel expansion beyond Egypt! Amazing job Mounir Nakhla and Ahmed Mohsen! 🚀 MNT-Halan, a standout in Egypt’s FinTech landscape and the country’s first unicorn, has recently completed a significant funding round, securing a total of $157.5m. This latest capital injection featured contributions of $40m from the IFC - International Finance Corporation, with the remaining funds supplied by Development Partners International (DPI), Lorax Capital Partners, funds managed by Apis Partners, Lunate and GB Corp. This round follows previous raises totaling $520m over the last two years, underscoring MNT-Halan’s robust position for regional expansion. Mounir Nakhla, founder and CEO of MNT-Halan, emphasized the strategic direction of the company, stating, “While Egypt remains our primary market, we are committed to revolutionizing access to financial services through technology beyond Egypt’s borders. Our M&A strategy capitalizes on our technology and industry expertise while leveraging our partners’ local knowledge, management capabilities, and licenses. We are happy to have the IFC on board and to see the continued confidence from our current shareholders through their participation in this round.” Since its inception, MNT-Halan has witnessed substantial growth, expanding its customer base over 20-fold to serve more than seven million users. Its digital platform, the Halan app, continues to evolve, now offering a wide array of services including various types of loans, pre-paid cards, e-wallets, e-commerce, gold, and money market fund investments, with plans to introduce additional features soon. The transaction’s legal aspects were handled by Maatouk Bassiouny & Hennawy and Van Campen Liem for MNT-Halan, while Hogan Lovells, Freshfields, and Gibson Dunn advised the subscribers. Arqaam Capital provided financial advice to GB Corp. Founded in 2018, MNT-Halan has quickly become a pivotal force in transforming financial services through technology in Egypt. With more than 2.2 million quarterly active users, the company has disbursed over $4.4bn in loans. #fintech #egypt #fundraise #unicorn https://lnkd.in/eVRG5_di

Nigerian fintech Moniepoint just closed $110 million in new financing, and it has landed Google’s Africa Investment Fund as a new investor. The Series C round was led by Development Partners International’s African Development Partners (ADP) III fund. Other investors, including African private equity firm Verod Capital and existing investor Lightrock also participated. Moniepoint, also backed by QED Investors, British International Investment (BII) and Endeavor Catalyst, has raised over $180 million since its launch in 2015. According to the Financial Times, the round makes Moniepoint a unicorn — a private company with a valuation of $1 billion or more. The African fintech was last valued slightly over $800 million in a QED-led round two years ago. Moniepoint initially focused on providing infrastructure and payment solutions for banks and financial institutions before pivoting to becoming a business banking provider, an area where it has found remarkable success. The African fintech caters to small and medium-sized businesses (SMBs) across Nigeria, offering working capital, business expansion loans, and business management tools such as expense management (business payment cards), accounting and bookkeeping solutions, and insurance. The fintech, which powers most of Nigeria’s point of sale (POS) transactions as the country’s largest merchant acquirer, claims it processes over 800 million transactions, with monthly total value exceeding $17 billion. #moniepoint #financialinclusion #mobilemoney #digitalbanking #poweringdreams #unicorn #fintech #nigeria #africa

FairMoney, a digital bank with its headquarters in Paris and operations in Lagos, is in talks to buy Umba, a credit-led #digitalbank that offers financial services and payroll to clients in Kenya and Nigeria, for $20 million in all-stock. This indicates that FairMoney wants to increase the number of people using its services by entering new markets, particularly Kenya. However, it also highlights the difficulties that African #fintechs face in an extremely competitive global startup market: $20 million all-share would be about the same as Umba's total amount of capital collected from foreign investors. The individuals, who asked to remain anonymous because the information is sensitive, said that #acquisition talks are still in their early phases. Prior to publication, inquiries for comment from FairMoney and Umba went unanswered. Founded in 2018 in San Francisco by Tiernan Kennedy and Barry O'Mahony, Umba began as a credit-led digital bank with an emphasis on #emerging nations. It offers clients in Kenya and Nigeria financial services such bill payment, current account, savings account, fixed deposit account, and loans. According to PitchBook statistics, the digital bank has raised about $20 million in fundraising thus far. ACT Ventures, Lux Capital, Palm Drive Capital, Banana Capital, Lachy Groom, co-founder of Monzo, Costanoa Ventures, and #Streamlined Ventures are among its investors. Meanwhile, FairMoney has received somewhat more than $57 million, according to PitchBook, with support from #organizations like Tiger Global, DST, Speedinvest, and others. It was previously appraised after a bridge round last year at a range of $400 million to $500 million. FairMoney, which is most recognized in Nigeria for its loan services, has been searching for more growth #opportunities. FairMoney took a bold move to enter India as its second market in 2020, but other than providing a momentum report in 2021, the company has not provided any more information regarding the state of that business since. FairMoney has been growing its product line as well. Six years ago, the startup's name-brand app debuted in Nigeria as a digital lender. Other financial services, including debit cards, transfers, and payments, have been offered since then. It claims to have more than six million retail #clients. One of FairMoney's prior acquisitions was PayForce, a Nigerian #merchant payment firm called CrowdForce sponsored by YC, which it acquired for $15–20 million in cash and shares. www.tycoonstory.com #FairMoney #Umba #Fintech #Acquisition #Africa #DigitalBanking #EmergingMarkets #Kenya #Nigeria #Growth #Investment #FintechChallenges FairMoney FairMoney Business Umba Madhav Goswami Prantick Saha Kunal Maurya Bhasker "Bosky" Kode

5 Major FinTech fundraises in Europe in April 2024 - IBS Intelligence: The rise of new FinTech start-ups and the new-to-bank population have paved the way for an upsurge in FinTech evolution.

A unified FinTech industry is a strong FinTech industry

Swedish Scayl scores €100 million investment to fuel fintech lending innovation Scayl, a recently unveiled debt financing platform, has secured a substantial €100 million investment. Founded in 2023 by Medjit Yalmaz, Patrik Blomdahl, and Jatin Goyal, Scayl offers European fintechs developing credit products a streamlined approach to funding, enabling them to finance their loan portfolios more efficiently and rapidly compared to traditional methods. The platform’s innovative technology allows for the real-time monitoring of vast amounts of data points and employs AI-driven risk modeling. With this funding, Scayl aims to expand its network of partner banks and credit institutions, providing financial support to fintechs across various asset classes and European jurisdictions, with future plans for global expansion. https://lnkd.in/dMKkW8-G #funding #nordicmade #sweden #startups #fintech #trending