An African startup that helps connect consumers’ bank accounts to financial applications has raised a $15 million Series A round. Tiger Global led Mono’s round. The firm also had participation from new investors Target Global, General Catalyst, and SBI Investment. New investors were joined by existing ones, including Entree Capital, Lateral Capital, Golden Palm Investments, Acuity VC, and Ingressive Capital, bringing Mono’s total raise to a little over $17.5 million since launching last year, reported TechCrunch. Launched in August 2020, the company streamlines various financial data in a single API for companies
A fintech startup helping the Black community get financial freedom has reportedly reached its latest milestone of paying over $20 million in consumer debt. Qoins is currently attacking the $1.3 trillion worth of student loan debt and $951 Billion of credit card debt in the US. Users download the app from the iOS App Store or Google Play. You add your name, phone number, and email, then the accounts that you want Qoins to take change from and add to. The app monitors your checking, or “funding” account, for regular charges and rounds
Nigeria and San Francisco-based start-up, Klasha, has just announced its partnership with OpenCart, an all-in-one e-commerce builder that provides businesses with the tools to create and launch an online store. Klasha, first launched in 2018 by Jess Anuna and Kemi Oritsejafor, specializes in helping merchants worldwide sell online to Africa and receive payments in local currency. The new partnership means that OpenCart merchants can now sell more and accept payments online from customers across the continent while enjoying “superfast last-mile delivery to customers across the continent within 10 days.” Merchants who
Infibranches Technologies Limited has secured $2million in funding from ‘All On,’ an investment company backed by oil and gas giant Shell. The Nigerian firm, founded in 2019 by Olusola Owoyemi, aims to provide digital financial services for service providers in the energy sector. Through its flagship products – OmniBranches and Green Energy Plug – Infibranches helps companies with extensive distribution networks. With the support of The Nigerian Off-Grid Market Acceleration Programme, it has also developed a payment system that helps to facilitate payment collection for providers of solar home systems and mini-grid developers through
Nigeria’s Prospa has just closed a $3.8 million pre-seed round that will allow the fintech startup to offer small businesses banking and software services. The West-African-based firm caters to freelancers and entrepreneurs acting as the “operating system” for their businesses by providing bank accounts, tax support, advice on creating a unique name, and more. The start-up, launched by trio Frederik Obasi, Chioma Ugo, and Rodney Jackson-Cole, has already had some success over the last few months – in March, it was one of the 10 African startups participating in Y Combinator’s (YC)
