New York-based fintech startup StoreCash has raised $3.7 million in a seed funding round led by Black Operator Ventures, with participation from notable investors like MaC Venture Capital, 43North, Alumni Ventures, and others. This brings StoreCash’s total funding to $6.4 million since its founding in 2019. Instant Cash Back Rewards Founded by Daricus Releford, StoreCash is a mobile app that helps users earn immediate cash-back rewards when shopping at brands such as Gap, H&M, and AMC Theatres, offering users an average of $900 annually. The app integrates its API with
Visa has announced investments in four African fintech startups that recently graduated from its Africa Fintech Accelerator program. While Visa did not disclose specific investment amounts, the initiative reflects its ongoing efforts to drive financial inclusion and support digital innovation in Africa. Supporting Fintech Innovation Across Africa The four startups—Oze, Workpay, OkHi, and ORDA—each offer digital solutions tailored to address key financial and logistical challenges in African markets. By backing these companies, Visa is betting on a diverse range of technologies to enhance access to financial services for small businesses,
Moniepoint, a Nigeria-based fintech company, has successfully raised $110 million in a Series C funding round. This raise gives the company a valuation of at least $1 billion for the first time, according to the Financial Times. The financing was led by Development Partners International’s African Development Partners III (ADP III) fund, with participation from investors such as Google’s Africa Investment Fund, Verod Capital, and Lightrock. Strategic Focus on Business Banking and Financial Access Founded in 2015 by Tosin Eniolorunda and Felix Ike, Moniepoint originally launched as TeamApt. The company
Klasha, the fintech company changing cross-border B2B payments between Africa and Asia, has raised an additional $2 million in funding. This latest investment round, backed by existing investors such as Expert Dojo, Alumni Ventures, and Breega, brings Klasha’s total funding to $6.5 million. The new capital will be used to accelerate its expansion into the Asian market, including opening an office in Hangzhou, China, the hub of e-commerce giants like Alibaba. Scaling Payment Solutions for Emerging Markets With a focus on enabling seamless cross-border payments between merchants in Africa and
CapWay, the fintech startup aimed at tackling financial inequity, has officially shut down. Founder Sheena Allen announced the closure, expressing pride in CapWay’s mission while also sharing disappointment that the journey ended prematurely. Allen’s LinkedIn post marked the end of CapWay, a company that strived to serve underbanked communities often described as “banking deserts.” “Although it has been a while, I am finally making the announcement that CapWay is no longer an active business,” Allen wrote on LinkedIn. Challenges in Fintech Funding and Regulation Founded in 2016, CapWay sought to
London-based fintech unicorn Zepz, formerly known as WorldRemit, has raised $267 million from new and existing investors to expand its global cross-border payments platform. Zepz’s fundraising round was led by Accel, with participation from Leapfrog, TCV, and Coller Capital, as first reported by Bloomberg. The International Financial Corporation, a member of the World Bank Group, has also committed to invest up to $20 million. Zepz not disclose its valuation in this round but was valued at $5 billion after its $292 million Series E round in 2021. Simplifying Money Transfers
Propelle, a new investment platform tailored specifically for women, launched on September 25 with an ambitious aim: to close the UK’s gender wealth gap. The platform, founded by 40-year-old Ayesha Ofori, a former Goldman Sachs Executive Director, empowers women to invest confidently and build wealth. Closing The Gender Investment Gap During her six years at Goldman Sachs, Ofori managed over £500 million ($663 million) in client assets and saw firsthand how the investment world primarily benefited the wealthy—and predominantly men. With the UK’s gender investment gap currently standing at £1.65
Hispanic Heritage Month, celebrated annually from September 15 to October 15, honors the history, culture, and contributions of Hispanic and Latine communities in the US. It began as a week-long event in 1968 under President Lyndon B. Johnson and was extended to a month by President Ronald Reagan in 1988. The dates are significant because they coincide with the independence anniversaries of several Latin American countries, including Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, Mexico, and Chile. In keeping with this year’s theme, “Inspiring Innovation and Empowering Communities,” here are
This article is sponsored by Morgan Stanley Inclusive Ventures Lab The Morgan Stanley Inclusive Ventures Lab (MSIVL) is proving that inclusion really does fuel innovation. Since 2017, Morgan Stanley’s in-house startup accelerator has helped over 100 companies raise over $200 million and reach a collective valuation of more than $1 billion. MSIVL provides early-stage technology and technology-enabled startups with $250,000, handpicked mentors, custom curriculums in finance, sales, and marketing, and a coveted opportunity to pitch to investors following their five-month accelerator participation on a Demo Day, setting founders up for
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
