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Binance-backed Xend Finance launches DeFi platform for credit unions in Africa

TechCrunch

Nigerian startup Xend Finance uses decentralized finance (DeFi) to address currency devaluation. Aronu Ugochukwu and Abafor Chima founded the startup in 2019, and Ugochukwu is quite familiar with currency devaluation. . This gave birth to Xend Finance.” Image Credits: Xend Finance. It has since secured $2.2

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Southeast Asian open finance startup Brankas gets $20M Series B led by Insignia Ventures

TechCrunch

For more about Brankas’ start, see TechCrunch’s 2019 profile of the company , the same year it raised its Series A. Since its Series A in 2019, Subramanian said Brankas has witnesses more regulator support for open finance, because they see it as an enabler to financial inclusion and greater customer choice.

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Uganda’s Tugende closes $3.6M Series A extension to meet the demand for its asset finance products

TechCrunch

Ugandan technology-enabled asset finance company Tugende today announced that it has closed $3.6 This brings Tugende’s total Series A financing to $9.9 This brings Tugende’s total Series A financing to $9.9 The company is also currently piloting financing for e-mobility assets. . Image Credits: Tugende.

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Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019

TechCrunch

When Chijioke Dozie, the CEO, spoke to TechCrunch in 2019, he cited recruitment purposes and clientele trust as reasons why the company made its financials public — an exercise it has done every second quarter for two years. It’s a tradition Dozie hopes the company will keep this year. . Image Credits: Carbon.

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Moove raises $105M to scale its vehicle financing product across Asia, Europe and MENA

TechCrunch

Moove , an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $105 million in new Series A2 financing. Africa is home to more than a billion people, where a majority have limited or no access to vehicle financing. that same year.

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Arc wants to build the de facto finance solution for SaaS startups

TechCrunch

Coming out of stealth today with $150 million in debt financing and $11 million in seed funding, Arc is building what it describes as “a community of premium software companies” that gives SaaS startups a way to borrow, save and spend “all on a single tech platform.” Image Credits: Arc.

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Nigeria’s Kippa gets $3.2M pre-seed for its small business finance management app

TechCrunch

All these inefficiencies, asides from being time-consuming, lead to errors and affects cash flow and finance, which is why almost nine out of 10 small businesses in the country fizzle out in the first five years. The startup’s new financing round was led by Berlin-based VC Target Global. million in pre-seed funding.

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