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Tag: Fintech

Moniepoint gets nod to acquire Kenyan Kopo Kopo
News

Moniepoint enters remittance market with new app, Monieworld

Nigeria’s newest tech unicorn, Moniepoint, is setting its sights on the country’s lucrative remittance market with the launch of Monieworld, a new money transfer app designed for the UK-Nigeria corridor. Unveiled this week, Monieworld allows UK residents to send money directly to any Nigerian bank account. Transfers can be made either from a Monieworld account […]

Nigerian lender Sycamore expands, gets SEC fund manager license
News

Nigerian lender Sycamore expands, gets SEC fund manager license

Nigerian digital lender Sycamore has secured a fund manager license from the Securities and Exchange Commission, marking a significant expansion beyond its core lending business. With ₦10 billion in assets under management, the company is now set to offer diversified investment portfolios targeting both retail and institutional investors. The new license enables Sycamore to operate […]

Fintech Stripe hits $91.5bn valuation
News

Fintech Stripe hits $91.5bn valuation

Stripe announced on Thursday a tender offer for employees and shareholders that values the fintech company at $91.5 billion — a 41% increase from its $65 billion valuation last year — potentially pushing back its plans for an initial public offering. The deal highlights a rebound in the global venture capital landscape, fueled by central […]

Kuda sued over gender discrimination, wrongful termination in UK
News

Kuda sued over gender discrimination, wrongful termination in UK

A former executive of Kuda Technologies Limited has filed a lawsuit in the United Kingdom, alleging gender discrimination, a toxic work culture, and wrongful termination. Rosemary Hewat, who previously served as the fintech company’s Group Chief People Officer, claims in court documents that Kuda and its CEO, Babatunde Ogundeyi, fostered a workplace environment that marginalized […]

Raenest secures $11m in Series A funding to expand cross-border payment
News

Raenest secures $11m in Series A funding to expand cross-border payment

Nigeria-based fintech focused on cross-border remittances and multi-currency accounts for businesses and freelancers, Raenest, has secured $11 million in a Series A funding round, bringing its total funding to $14.3 million. The funding round was led by QED Investors, with additional participation from Norrsken22 and follow-on investments from Ventures Platform, P1 Ventures, and Seedstars. This […]

Bento lays off entire tech team amid salary dispute
News

Bento lays off entire tech team amid salary dispute

Payroll management company Bento abruptly dismissed its 10-person tech team on Friday following a protest over delayed salaries, TechCabal reported. The layoffs came just one week after the company was accused of failing to remit millions of naira in taxes and pensions and allegedly forging tax receipts for Lagos State customers. Founder and CEO Ebun […]

Fintech PiggyVest pays out ₦835bn to users in 2024
News

Fintech PiggyVest pays out ₦835bn to users in 2024

PiggyVest, renowned for its savings and investment tools, disbursed a record ₦835 billion to customers — a testament to its reliability and growing popularity. By the end of the year, PiggyVest had amassed over 5 million users, cementing its status as a trusted financial partner for millions of Nigerians. In addition, the company’s rebranded social […]

Nigerian fintech Moove partners Alphabet's Waymo, enters US
News

Nigerian fintech Moove partners Alphabet’s Waymo, enters US

Nigerian-born fintech startup, Moove has announced a strategic partnership with Waymo, Alphabet’s self-driving vehicle division, to manage fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida. The collaboration highlights Moove’s innovative revenue-based vehicle financing model and underscores its aggressive global expansion strategy. The partnership comes on the heels of Moove’s impressive fundraising efforts, including […]

Wise faces regulatory action over anti-money laundering controls
News

Wise faces regulatory action over anti-money laundering controls

British money transfer firm Wise has been placed under a formal remediation plan by European regulators due to issues with its anti-money laundering controls, the Financial Times reported on Friday. A review conducted by the Belgian National Bank, which oversees Wise’s operations in Europe, found that the company lacked proof of address for hundreds of […]

PalmPay names ex-Opay exec Femi Hanson as Marketing head
News

PalmPay names ex-Opay exec Femi Hanson as Marketing head

Pan-African fintech firm PalmPay has appointed Femi Hanson as the new head of marketing and public relations for its Nigerian subsidiary. With a wealth of experience in the fintech sector, Hanson previously led the marketing teams at Nigerian fintechs OPay and Moni, bringing five years of industry expertise to his new role. Hanson will spearhead […]

UK regulator investigates MoneyGram's data breach
News

UK regulator investigates MoneyGram’s data breach

The UK’s data protection authority is investigating MoneyGram following a report of a data breach from the U.S.-based money transfer company. The Information Commissioner’s Office confirmed to TechCrunch on Friday that it had received a breach report from MoneyGram, which is required to notify authorities of data incidents within 72 hours of discovery. “We have […]