Paystack, the Nigerian fintech owned by Stripe, reorganized its businesses under a new holding company, The Stack Group, in Nigeria this week after reaching group profitability. The new structure places four businesses under TSG: Paystack’s core merchant payments business, the consumer payments app Zap, Paystack Microfinance Bank, and a venture studio known as TSG Labs. The shift reflects a strategic move to manage risk, regulation, and ownership across distinct financial products. A Holding Company Model to Contain Risk and Regulation By adopting a holding company structure, Paystack has separated payments,
PayPal is returning to Nigeria through a new partnership with fintech company Paga, allowing individuals and businesses to receive international payments, withdraw funds in naira, and access PayPal’s global network after nearly two decades of restricted service, TechCabal reports. For the first time, Nigerians can receive PayPal funds directly into a locally regulated wallet at scale, rather than relying on workarounds and business‑only routes. From bans to local partners PayPal blocked Nigerians from receiving payments in 2004, citing fraud concerns, and for years offered only limited functionality. Nigerians could often
Flutterwave, Africa’s largest payments technology company, has acquired Nigerian open banking startup Mono in an all-stock deal valued between $25 million and $40 million, TechCrunch reports. The acquisition brings one of Africa’s most prominent open banking companies under the Flutterwave umbrella, as the payments giant looks to expand its infrastructure beyond transactions into data and financial services. According to a press release, Mono will continue to operate independently under its existing leadership team. Mono: Africa’s Answer To Plaid Founded in 2020 and backed by investors like Y Combinator, Mono builds
Rent is often the largest monthly expense for American households, yet for decades it counted for little when it came to building credit. Esusu, a Black-owned fintech company, is working to change that. Founded in 2018, Esusu partners with large property owners to report renters’ on-time payments to credit bureaus. The approach allows millions of renters to build credit without taking on new debt, creating clearer pathways to homeownership and long-term financial stability. The company has now raised $50 million in a Series C funding round, bringing its total funding to more than
Barclays is hiring on POCIT. Oyindamola (Dammy) Lawal, Partnerships Execution Lead for Barclaycard Payments, plays a key role in shaping the strategic collaborations that power Barclays’ expanding payment technology. Working at the intersection of innovation and relationship-building, Lawal’s ultimate goal is to grow the bank’s payments partnerships across the UK and Europe. He spoke with POCIT about building a thriving career at Barclays that leaves the door open for others. Tenacity Meets Opportunity “My journey has been a mix of tenacity and good fortune,” Lawal tells POCIT. “My career with
Moniepoint has raised another $90 million in an extension of its Series C round, bringing its total to $200 million after its initial $110 million raise in 2024. The round included investors such as Visa, Development Partners International LLP, Leapfrog, and Alphabet Inc.’s Google Africa Investment Fund, Ross Strike, according to Bloomberg. “We will not rest on our laurels,” co-founder and CEO Tosin Eniolorunda said in a statement. “The proceeds from our landmark Series C will be deployed judiciously to generate even more momentum as we enter the next chapter of Moniepoint’s story – with
Kredete, a Nigerian fintech company that helps African immigrants build credit, has raised $22 million in a series A funding round led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE). This latest round, which also had participation from Polymorphic Capital and Partech, brings Kredete’s total funding to $24.75 million, according to a press release. The fund will help the company expand into Canada, the United Kingdom, and key European markets. About Kredete Serial entrepreneur Adeola Adedewe founded the company in 2023 with a mission
Bleyt is helping immigrants transfer their credit history across countries. The company has a built-in money app that uses AI to obtain pull financial data from local credit providers and bureaus. It also features a multi-currency account and card, allowing immigrants to minimize delays when accessing financial services in new countries. Immigrants struggling to access financial services When Bleyt’s founder, Wale Akanbi, moved to from Nigeria to the UK in 2021, his credit history did not transfer with him, making it difficult for him to access financial services. “I had
Casap has raised $25 million in new funding to help banks tackle credit and debit card disputes. The new capital brings its total funding to $33.5 million, according to a press release. The funding round was led by Emergence with participation from Lightspeed, Primary Ventures, SoFi, and others. The startup aims to change the way financial institutions handle disputes and reduce fraud cases. Its intelligent automation accelerates resolutions, cuts fraud by more than half, and eliminates friction for consumers. This capital will allow the company to expand its first-party fraud
Pan-African payment orchestration platform, HoneyCoin, has raised $4.9 million in a seed round led by Flourish Ventures. Other investors included Visa and TLcom, Stellar Development Foundation, Lava, and more, according to a press release shared with POCIT. The Nairobi-based startup tackles inefficiencies in global financial infrastructure, particularly for businesses in pre-emerging markets. It gives businesses a unified, stablecoin-compatible platform for collections, treasury management, settlements, and FX management. By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin gives businesses instant or same-day settlements, compared to the traditional four to seven-business-day timeframe. David Nandwa
