Nigerian online-only bank startup Kuda raises $1.6M – gpgmail

Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding. The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving it a distinction compared to other fintech startups. “Kuda is […]

DHL expands Africa eShop online retail app to 34 countries – gpgmail

DHL  has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company’s e-commerce platform to 34 African countries. DHL  href=”https://Gpgmail.com/2019/04/11/dhl-launches-africa-eshop-app-for-global-retailers-to-sell-into-africa/”>went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers. Africa […]

SF based African fintech startup Chipper Cash expands to Nigeria – gpgmail

The African no-fee, cross-border payment startup Chipper Cash has expanded to Nigeria. The San Francisco based startup, with offices in Ghana and Kenya, will offer its P2P payment service and app in Africa’s most populous nation in partnership with PayStack—the payment gateway company. Paystack CEO Shola Akinlade confirmed the collaboration. Chipper Cash will establishe a company […]

Accion Venture Lab launches $23M inclusive fintech startup fund – gpgmail

Accion Venture Lab—the seed-stage investment arm of non-profit Accion—has raised $23 million for a new inclusive fintech startup fund. The Accion Venture Lab Limited Partnership, as its called, will make seed-stage investments in inclusive fintech startups, defined as ventures that “that leverage technology to increase the reach, quality, and affordability of financial services for the […]

Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update – gpgmail

Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current […]

Update on Nigerian fintech firm Interswitch and its speculative IPO – gpgmail

Nigerian fintech firm Interswitch has been circulating in business news around a possible IPO on the London Stock Exchange. Last month Bloomberg News ran a story—based on unnamed sources—reporting the financial services firm had hired investment banks to go public on the LSE later in 2019. The piece spurred additional aggregated press. That Interswitch—which provides […]

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs – gpgmail

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand […]

Africa’s ride-hail markets are hot spots for startups and VC – gpgmail

When it comes to VC, vehicles, and startups, Africa’s ride-hail markets are becoming a multi-wheeled and global affair. The big players such as Uber and Bolt are competing in Kampala and Nairobi—where in addition to car-service—they offer rickshaw taxis. On-demand motorcycle startups are multiplying and piloting EVs with funds from international partners. And many ride-hail companies in Africa […]