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Africa’s fintech startups are reported to have raised $2 billion in the past year alone. This amount dwarfs the $231 million that was raised in the year 2020. Nigerian startups continue to account for the biggest share of funds raised by the continent’s fintechs in 2021. 2021 Has Highest Number of Reported Deals The capital … Read more
Fintech startup Flutterwave announced recently that it has raised $250 million from its Series D funding round. The funding round, which attracted international investors, saw the startup’s value rise to over $3 billion. Capital Raised to Fund Flutterwave’s Expansion Plans The Nigerian fintech startup Flutterwave recently announced it raised $250 million in a Series D … Read more
Chipper Cash, an African fintech firm that specializes in facilitating cross-border payments, recently closed a $100 million Series C funding round. Taking the lead in what is now Chipper Cash‘s third fundraising round in the past twelve months is the venture capital (VC) firm, SVB Capital. The VC firm is an investment arm of U.S. … Read more
The Central Bank of Nigeria (CBN) has recently suspended the provision of the bank validation number (BVN) service to all fintech and third-party partners. The decision means non-banks entities include crypto startups “have lost one of the most comprehensive means of identity verification in the country.” New Identification System Before the latest decision, the CBN … Read more
A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian police unit, the Special Anti-Robbery Squad (SARS). Before the blockade of the bank account, Feminist … Read more
For quite some time now, a number of libertarians, bitcoin evangelists, and blockchain entrepreneurs have been promoting the idea of charter cities and seasteading concepts. One such project, Pronomos Capital, has raised $9 million from heavyweight investors like venture capitalist Peter Thiel. Pronomos was incorporated in August by Patri Friedman, as the project is attempting … Read more
