OneUnited Bank, one of the nation’s largest Black-owned banks, is partnering with the credit-building platform Esusu to change the path to homeownership for renters during Financial Literacy Month. Esusu uses data to help improve users’ credit scores, allowing people to make it easier to get onto the housing ladder. “This alliance is all about empowering renters with the financial tools they need to turn their homeownership dreams into reality,” Teri Williams, President & COO of OneUnited Bank, said in a press release. OneUnited Bank’s collaboration with Esusu By reporting on-time rental payments, this
Mukuru, a pan-African digital payments company, is preparing to expand its strategy across the continent as the rise of online transactions grows. The company currently serves 17 million users in Africa, Asia, and Europe, refining over $3.5 to $4 billion in payments annually across Africa, as stated by TechPoint. “Customers have become more comfortable using digital means, network, and infrastructure,” Chief Executive Officer Andy Jury told Bloomberg. What does Mukuru do? Mukuru Ltd. is a digital payments platform founded in 2004 by Zimbabwean entrepreneur Rob Burrell. It started as a
Cashflow management platform Lenkie has secured £49 million ($62 million) in Series A funding to transform how UK small businesses access capital. The funding round was led by a large US private credit fund focused on supporting lenders internationally. It also included a £4 million ($5 million) equity and a £45 million ($57 million) debt facility, according to a press release shared with POCIT. How does Lenkie support SMEs? Lenkie specializes in payables financing. Instead of waiting weeks or months for payments to process, Lenkie steps in to pay suppliers upfront, helping
MANSA, a global fintech innovator in trans-regional payments, announced its recent $10 million funding round. It raised $3 million in a pre-seed funding round led by Tether and co-headed by Polymorphic Capital with the help of other significant investors like Faculty Group, Octerra Capital, and Thrive Digital. They secured a further $7 million in liquidity funding from corporate investors, quantitative funds, and alternative investment firms. “This funding accelerates our global expansion, enabling us to empower payment companies with seamless, real-time settlement infrastructure and drive the future of payments,” Mouloukou Sanoh, CEO and
A Ghanaian fintech startup, Affinity Africa has raised $8 million in seed funding to expand its financial products nationwide. Affinity Africa is a digital banking platform committed to providing Ghanaians with affordable and accessible financial services. Individuals and micro-enterprises are both supported by the Ghanaian fintech. Customers can access free savings and current accounts with no transaction limits, and users gain credit scoring based on their transaction history. Who is the founder of Affinity Africa? Founder and CEOÂ Tarek Mouganie comes from a fourth-generation Ghanaian family of Lebanese descent. He gained
Moove, an Uber-backed mobility fintech company, has acquired Kovi, a Y Combinator-backed Brazilian urban mobility provider. “This transaction not only strengthens our footprint in Latin America and reinforces our position as a dominant player in global mobility, but it also underscores our commitment to contributing to the Brazilian economy,” Ladi Delano, Co-Founder and Co-CEO of Moove, said in a statement. Following the deal, Kovi will continue to operate under its existing brand with its executive and management teams remaining in place, Moove confirmed. Moove’s Growth and Expansion Founded in 2020 by Ladi Delano
Legendary hip-hop MC RAKIM is entering fintech with his new platform, Notes. The artist created a platform with the hope of helping artists capitalize on their creative projects and gain financial independence. Recognized by many as one of the greatest MCs of all time, RAKIM rose to fame as one-half of the rap duo Eric B. and Rakim. Now, he has launched an AI-powered platform as a one-stop shop for music, money, and knowledge for artists and creators. “Independent urban music artists and creators often struggle to gain financial stability
South Africa’s digital lender Tyme Group has raised $250 million in a Series D funding round, pushing its valuation to $1.5 billion and securing its place as Africa’s ninth unicorn. Nu Holdings Backs Tyme’s Global Ambitions The round was led by Nu Holdings, Latin America’s largest fintech company. Nu Holdings, the parent company of Nubank, invested $150 million for a 10% stake, marking its first major bet outside of Latin America. M&G Catalyst Fund contributed an additional $50 million, while existing investors, including Tencent and Gokongwei Group, also participated. Tyme’s
Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round, aiming to empower African small and medium-sized enterprises (SMEs) with cash flow management solutions. The funding, a combination of debt and equity, was led by Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. Addressing SME Cash Flow Issues Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx offers invoice financing and payment processing services to help SMEs combat cash flow challenges caused by delayed payments from enterprise clients. The platform facilitates upfront payments for
Latina-owned fintech platform Hello Alice has announced it has distributed more than $50 million in grants to small businesses across the US since 2020. Founded by Carolyn Rodz and Elizabeth Gore, the digital platform has become a cornerstone of support for entrepreneurs nationwide, providing funding, mentorship, and tools to help their businesses grow. Empowering Entrepreneurs Nationwide Hello Alice was born out of co-founder and CEO Carolyn Rodz’s struggles as an entrepreneur. A former JPMorgan investment banker from Bolivia, Rodz told American Banker she faced significant hurdles when raising capital for
