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Fintech

Uber Technologies Inc. is set to invest in Nigerian startup Moove in a funding round that could reach up to $100 million, Bloomberg reports. Moove Founded in Lagos in 2020 by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove has expanded its reach beyond its origins. The duo’s aim is to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs. With its headquarters in Amsterdam, the company now operates across Africa, the UK, the UAE, and India.  Moove’s innovative business model revolves around a unique credit-scoring system,

Brennan Nevada Inc., reportedly New York’s only Black woman-owned PR and media agency for tech companies, has partnered with SoLo, the US’s largest Black-owned personal finance company.  Building Brennan Nevada Inc Founded by Brennan Nevada Johnson in 2021, the agency has quickly established itself as a formidable force in the industry.  Johnson, a descendant of Carter G. Woodson, the founder of Black History Month, channels her heritage into her work, emphasizing the promotion of Black and BIPOC stories in the tech world. Johnson’s background in journalism and experience in a

Mastercard has purchased a minority stake in mobile operator MTN Group’s fintech business. MTN is Africa’s largest mobile network operator, sharing the benefits of a modern connected life with 272 million customers in 19 markets across Africa and the Middle East. Established in 1994 in South Africa, the company provides voice, data, fintech, digital, enterprise, wholesale, and API services. Mastercard’s Minority Stake In MTN Last year, in 2023, Mastercard announced it would purchase a minority stake in the MTN, and now, six months later, they have. In a statement, MTN said it had

Nigerian fintech startup Cleva has raised $1.5 million in pre-seed funding in a round led by San Francisco-based 1984 Ventures. Founded by Tolu Alabi and Phillip Abel, alumni of Stripe and Amazon Web Services (AWS), Cleva’s product provides a way for Africans to navigate hyperinflation challenges. Africans face persistent challenges in receiving international payments for their skills and products. According to the startup, it is estimated that the market for facilitating payments for remote workers and freelancers in Africa will be an $18 billion opportunity. Nigerian Startup Cleva Cleva is a USD banking platform for emerging

ORO Impact, a social impact fintech company, has recently launched a down payment assistance (DPA) platform to transform homeownership throughout the US. ORO Impact The company addresses two national challenges, the first being down payment affordability has put homeownership outreach for many Americans. Secondly, employee tenure is at record lows as employers struggle to attract and retain employees. Homeownership currently reflects racial inequity, with rates for African American and Latino households lagging the national median by 22% and 15%, according to Black News. In many parts of the country, African American

Many of us have kickstarted 2024 with goals for the new year. These goals range from learning more about our finances and getting fit to prioritizing our wellbeing or simply reading more. We have compiled a list of some Black-owned apps that may help you on your way! Prioritize Your Wellbeing – Exhale Black founder Katara McCarty launched her app, Exhale, in 2020 after struggling to find an app suited to Black women’s wellbeing. Exhale is the first emotional wellbeing app for Black, Indigenous, and Women of Color (BIWOC). The app coaches users through

London-based fintech startup Jenesys AI has secured $1.1 million in a pre-seed funding round. Founded in late 2022 by Nicolai Thomson and Dr Tosin Dairo, Jenesys elevates the role of bookkeepers and accountants with a conversational AI named “Jack”. The investment round was led by Twin Path Ventures, with contributions from Fuel Ventures, Antler, Hatcher+ in Singapore, and seasoned angel investors from the US and UK. Meet Jack: The conversational AI Jenesys AI’s flagship product is “Jack,” a conversational AI designed to support finance teams. Integrated with platforms like Slack

New York-based fintech startup Comun is redefining the bank experience for Latine immigrant communities in the US and reimaging local banking for the digital world. Founded in 2021 by Andres Santos, CEO, and Abiel Gutierrez, CTO, both of whom experienced financial exclusion upon migrating to the US, Comun has secured $9 million in funding to date. Banking Disparities in the Latine Community The Latine population contributes a staggering $3.2 trillion to the US GDP. This makes it the world’s fifth-largest economy, more than the GDPs of India, the UK, and

Black-owned fintech startup Conduiit has raised $1 million in pre-seed funding to save entertainment companies time and money by centralizing their production finance operations. Disrupting the production finance space Conduiit is the brainchild of former Amazon and Netflix employees Shawn Hamilton, CEO, and Jason Thurman. The New York and New Jersey-based tech company provides users with digital workflows, SaaS, and DaaS solutions. It also offers budgeting, scheduling, cost tracking, and cash flow management guidance at project and corporate levels. Hamilton worked as a production accountant at Amazon from 2015 to 2017 when

CB Insights released its latest list of the world’s most promising startups, including a number of companies founded by people of color. CB Insights collected the company’s investors, headcount growth, and commercial relationships to identify 345 of the most promising private startups from their database of 1 million companies. The industries include fintech, AI, insurtech, generative AI, and retail tech. We have compiled a list of some people of color-owned startups featured. Airbase – Thejo Kote Thejo Kote founded Airbase in 2017 and has been its CEO since then.  Airbase develops a modern

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