Kredete, a Nigerian fintech platform, has raised $2.25 million in seed funding, enhancing its ability to serve African immigrants in the U.S. The funding round, led by Blockchain Founders Fund (BFF), also included investors like Techstars, Tezos Foundation, Polymorphic Capital, among others. Kredete’s mission is to help African immigrants build credit while simplifying remittances, transforming how they send money home. Addressing Financial Barriers for African Immigrants Kredete’s innovative approach has attracted a user base of over 300,000 and processed transactions exceeding $100 million. The platform allows immigrants to send money
WealthMore, the fintech startup founded by Mical Jeanlys-White, has secured over $1 million in pre-seed funding according to Forbes. The company aims to make financial advice more accessible and affordable, particularly for individuals who have been historically underserved by traditional wealth management firms. Bridging the Wealth Gap with Hybrid Financial Solutions Wealthmore is a premium wealth advisor-ed, tech-enabled investing and planning service and community, launched in August 2023. The companys approach to wealth management combines the efficiency of fintech with the personal touch of traditional financial advisors. This hybrid model
Waza, a Y Combinator-backed fintech startup, has officially launched from stealth mode, securing $8 million in seed funding to transform how African businesses manage cross-border trade. The funding round was led by major investors including Byld Ventures, Norrsken Africa, and Timon Capital, with the aim of empowering enterprises across the continent to navigate global markets more effectively. Solving Africa’s Trade Imbalance The African continent faces a significant trade imbalance, driven by a persistent demand for the dollar—a currency essential for international trade. This demand often surpasses supply, resulting in higher costs
London-based fintech startup Jarvis has secured £1.8 million ($2.3 million) in funding to transform retirement planning. The funding round was led by Ascension VC and Cornerstone VC, with additional participation from Tokio Marine Future Fund. This capital injection will support Jarvis’s growth and product development as it integrates with the broader ecosystem of pension-related services. Addressing The Retirement Planning Gap In today’s workforce, financial autonomy is on the rise, with the global shift towards self-employment and gig economy work has made traditional workplace benefits like pensions increasingly inaccessible. Projections indicate
Mexican fintech company OCN, which offers car rental models for gig workers in Mexico and the US, has successfully raised $86 million in equity and debt. The Series A funding round was led by Brazil’s Caravela Capital, with additional contributions from Collide Capital and Great North Ventures on the equity side, and New York-based i80 Group leading the debt portion. Innovative Solutions For Gig Workers Launched in 2022, OCN provides gig workers with new car rentals on a weekly fee basis, inclusive of maintenance and insurance. Users also have the
Caliza has secured $8.5 million funding. Founded in 2021 by Ezra Kebrab, the Brazil-based startup transforms cross-border transactions in Latin America through the use of crypto stablecoins. The company recently secured funding led by Initialized Capital, enabling them to expand their innovative payment solutions that leverage Circle’s USDC (USD Coin), according to TechCrunch. “Caliza is building global financial infrastructure that removes borders from commerce,” Kebrab wrote on LinkedIn. “I’m excited to unveil the latest including our recent $8.5M round.” Bringing Speed and Stability to Cross-Border Payments Unlike traditional transfers made
South Africa’s leading digital bank, TymeBank, has successfully raised $77.8 million in a pre-Series C funding round. The round was co-led by African growth-stage investor Norrsken22 and global impact investment firm Blue Earth Capital. This increase of capital brings TymeBank’s total raised funds to over $260 million, marking a milestone in the bank’s growth and expansion plans. Existing investor Tencent, which spearheaded TymeBank’s $180 million Series B round in December 2021, also participated in this round, further increasing its stake to become the third-largest shareholder. Strategic Investments and Growth Launched
Minka, a Colombian cloud-based fintech startup, has embarked on an expansion plan to bring its innovative financial solutions to Africa. This move aims to replicate its success in Latin America by addressing the continent’s financial inclusion challenges and leveraging the growing digital payments market. Launching in Eastern and Southern Africa On July 2, 2024, Minka officially launched its operations in East Africa, marking its first expansion phase. The fintech company began its journey in Kenya, Tanzania, Uganda, and Ethiopia and plans to expand to Southern African markets such as Mozambique,
Cadana has raised $7.1 million in seed funding this year. Launched in 2021, the startup allows global workforces to integrate payments and payroll management into their systems. Cadana According to the company, the world’s largest payroll platforms and talent marketplaces use Cadana’s APIs to build compliant hiring products in Africa, Asia, and Latin America. Founders Albert Owusu-Asare and Ameer Shujjah, who are originally from Ghana and Pakistan, gained years of experience working at Amazon, Esusu, and Goldman Sachs before founding the company. Although the pair appreciated their version of the
Prósperos has successfully raised $3 million in seed funding to advance its mission of empowering Latine communities through innovative financial solutions. This funding round saw investments from FEBE Ventures, BAT VC, Tekton Ventures, and Courtyard Ventures, among others. Revolutionizing Financial Services For Latine Communities Founded in 2023 by Vinay Pai and Salvador Chavez, Prósperos aims to transform the financial landscape for Latine communities in the USA and Latin America. The Prósperos platform provides two bank accounts and cards: one for the account holder in the USA and another for their
