Casap has raised $25 million in new funding to help banks tackle credit and debit card disputes. The new capital brings its total funding to $33.5 million, according to a press release. The funding round was led by Emergence with participation from Lightspeed, Primary Ventures, SoFi, and others. The startup aims to change the way financial institutions handle disputes and reduce fraud cases. Its intelligent automation accelerates resolutions, cuts fraud by more than half, and eliminates friction for consumers. This capital will allow the company to expand its first-party fraud
Pan-African payment orchestration platform, HoneyCoin, has raised $4.9 million in a seed round led by Flourish Ventures. Other investors included Visa and TLcom, Stellar Development Foundation, Lava, and more, according to a press release shared with POCIT. The Nairobi-based startup tackles inefficiencies in global financial infrastructure, particularly for businesses in pre-emerging markets. It gives businesses a unified, stablecoin-compatible platform for collections, treasury management, settlements, and FX management. By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin gives businesses instant or same-day settlements, compared to the traditional four to seven-business-day timeframe. David Nandwa
Senegalese mobile money platform Wave has secured $137 million in debt financing, led by Rand Merchant Bank, with support from British International Investment (BII), Finnfund, and Norfund, according to TechCabal. The funding will enable the company to expand its operations, allowing it to continue serving underserved communities across Africa. What does Wave do? Founded in 2018 by Drew Durbin and Lincoln Quirk, Wave serves over 20 million monthly active users through a network of more than 150,000 agents and a team of 3,000 employees across eight markets in West Africa.
Ankor AI, a startup founded by Kyle Rowley, has just raised $1.3 million in a pre-seed funding round led by Upfin, according to Tech Funding News. Juni, Pleo, Moss, and Klarna also participated in the funding round. Former basketball player Rowley founded the Swedish fintech company after spending four years working with different finance teams. During this time, he observed the challenges of accessing financial data, particularly for e-commerce brands seeking credit or a precise cash flow. “I met smart operators who knew exactly what needed to be done, but
LemFi, a Nigerian-founded fintech company based in California, has acquired Pillar, a London-based startup focused on providing credit access to immigrants. Speaking to Semafor, LemFi CEO Ridwan Olalere confirmed that the deal was finalized in May. He said the acquisition will pave the way for LemFi to launch a credit card feature within its app. The financial terms of the deal were not disclosed by either company. LemFi acquires Pillar Ashutosh Bhatt and Adam Lewis founded Pillar in 2021, after both working at Revoult. It raised £13 million less than
Nigerian fintech startup, Carrot Credit, has raised $4.2 million in seed funding to expand its credit platform across Africa. The startup offers users loans backed by digital investment assets, including stocks, exchange-traded funds (ETFs), and cryptocurrencies. The funding round was led by US-based MaC Venture Capital, with participation from Authentic Ventures, as reported by TechCabal. What does Carrot Credit do? Carrot Credit is a digital lending platform that enables individuals to borrow money without selling their investment portfolios, including ETFs, bonds, or cryptocurrencies. It was founded by Bolu Aiki-Raji in
Entrepreneur Nina Mohanty raised $2 million for Bloom Money, an app designed to help immigrant communities save money. The app, which was founded in 2021, allows immigrants based in the UK to save money collectively, a practice also known as “money circles.” Helping immigrants save money Mohanty worked with banks like Starling Bank, Klarna, and Mastercard and realized they don’t really understand how immigrant communities manage their money. “At a certain point, I just realized I got very frustrated wondering who was building for immigrant communities because I was building
Filed, an AI tax preparer, secured $17 million in pre-seed and seed funding rounds backed by Northzone and Day One Ventures. The fund will help US tax firms increase their capacity through AI. Other investors included J Ventures, Neo, Raine, and Greens Ventures, as reported by Sifted. Being an accountant is not for the faint-hearted, but AI can speed up the tax filing process. Data by Accountancy Age shows that 99% of accountants have leveraged AI as it enhances efficiency and boosts client outcomes. Leroy Kerry, Field’s co-founder and CEO, teamed
Djamo, a Francophone digital banking startup, raised $17 million in an equity funding round led by Janngo Capital. The fintech company currently serves one million customers, specifically in Ivory Coast and, more recently, Senegal, according to TechCrunch. The funding will help Djamo expand its product suite for its customers and the thousands of small businesses it has acquired over the past two years. Who are the founders of Djamo? CEO Hassan Bourgi founded the company in 2020 alongside Chief Product and Technical Officer Régis Bamba. Djamo is committed to lessening the financial
Nigerian fintech startup Moniepoint announced the launch of MonieWorld, a platform that offers immigrants various financial services, starting with remittances to Nigeria. The new financial product allows users to return money to Nigeria, beginning with the UK. “With MonieWorld, Nigerians in the UK can send money home in seconds directly into any Nigerian bank account. With remittances to Nigeria crossing $20B in 2023, we see this as an opportunity to support economic growth in Nigeria, while bringing families closer,” the company said in a blog post. Customers will be able
