Marshmallow, a British fintech startup aiming to make insurance cheaper, faster, and fairer, has raised $90 million in equity and debt funding. The funding round, led by Portage Capital, will support the company’s expansion into new markets and products amid a growing migrant population. “We think of migration as a huge opportunity. We need migration to put more people into work, and we want to help people move and integrate into the UK,” CEO Oliver Kent-Braham told TechCrunch. The raise nearly doubles Marshmallow’s valuation to $2 billion. New investors include
The Nigerian fintech Payhippo, which previously provided SME loans, has rebranded to RIVY and raised $4 million in a pre-Series A funding round to focus on increasing clean energy financing in the continent. The funding was split between $2 million equity and $2 million debt. The seed round was co-led by EchoVC, a Nigerian venture capital (VC) firm through its $2.5 million Eco fund, which focuses on climate, energy, agriculture, and mobility solutions, and Shell’s All On, a climate-focused impact investment organization. Local debt providers supplied the debt. “Renewable energy is
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
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
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
Gig Wage, Dallas-based payments platform for the gig economy, has relaunched with a $8.25 million Series A funding extension, bringing total funding to $20.2 million. The company is also rolling out new tools designed to streamline payroll and benefits for independent contractors. A Fresh Start After Challenges Gig Wage’s latest funding round includes new investors Discover, Motley Fool, and Chartline Capital Partners, with additional support from existing backers like Green Dot and Foundry Group. The funding comes after a challenging period for the company, which had to rebuild its platform
Sandbox Wealth, a modern banking platform tailored for non-bank financial institutions, has raised $1.25 million in pre-seed funding. The round was led by NextGen Venture Partners with additional backing from Northwestern Mutual Future Ventures, gener8tor, and RevTech Labs. Transforming Wealth Management Founded in 2023 by Ray Denis, Sandbox Wealth seeks to fill gaps in the wealth management sector by offering a platform that integrates deposits, lending, and advanced analytics. This innovation particularly benefits Registered Investment Advisors (RIAs) and Family Offices by providing tools that enhance client relationships and support business
9fin, a London-based debt market intelligence startup, has secured $50 million in Series B funding led by Highland Europe, a prominent growth capital investor. As first reported by The Financial Times, this latest funding is expected to drive 9fin’s expansion, particularly in the United States, where the company’s growth is accelerating. It also marks a milestone in 9fin’s journey, bringing total funding to nearly $90 million since its inception in 2016. Aiming for Billion-Dollar Revenues Co-founded by Huss El-Sheikh and Steven Hunter, 9fin began as a response to the lack
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
