Visa-backed African unicorn Moniepoint tackles remittances, but is it late to the game?
When Visa invested in Nigerian fintech Moniepoint earlier this year, it didn't just validate the newly minted unicorn — it signaled a bold new direction.
As part of that deal, the Nigerian fintech best known for building one of Africa's largest business banking platforms, hinted at plan
AI insurtech Ominimo bags its first investment at a $220M valuation
How do you get talented engineers to work for a startup in a mundane field at a time when more exciting companies are paying well and hiring aggressively? Here's an answer from one insurance startup out of Poland called Ominimo: make pay competitive, but more importantly, give those engineers t
Solid, which claimed to be the 'AWS of fintech,' files for bankruptcy after raising nearly $81M in funding
Banking-as-a-service startup Solid (formerly called Wise) has filed for Chapter 11 bankruptcy protection, according to documents filed in the United States Bankruptcy Court for the District of Delaware on April 7.
Founded in 2018, the fintech company had raised a total of nearly $81 million in fun
Turkey’s Sipay raises $78M to expand its Stripe-like services into emerging markets
Billing itself as “Stripe for emerging markets,” Turkish fintech Sipay has raised a $78 million Series B funding round, claiming a valuation of $875 million in the process.
This round is significant, as Sipay plans to expand into markets outside of Turkey, offering additional services
Fuse raises $6.6M to fix a payment problem for companies expanding to MENA
Expanding into the Middle East and North Africa (MENA) remains a costly and complex challenge for global businesses, thanks to fragmented regulations and banking systems. Dubai-based fintech Fuse aims to simplify that with a cross-border payments API and has raised $6.6 million in seed funding to m
Fintech Plaid raises $575M at a $6.1B valuation, says it will not go public in 2025
Plaid, which connects bank accounts to financial applications, has sold about $575 million worth of common stock at a $6.1 billion post-money valuation, the fintech company confirmed to technewss.
The valuation is about less than half of the $13.4 billion that San Francisco-based Plaid was valued
Y Combinator neobank Djamo raises $17M with 1M users across Francophone Africa
Djamo is one of several digital banking startups targeting Africa's underbanked. But unlike many that focus on large markets like Nigeria, Egypt, or South Africa, Djamo has carved out a niche in Francophone West Africa, specifically the Ivory Coast and, more recently, Senegal. It now serves ove
Zelle is shutting down its app, but you probably don’t need to worry
Zelle is shutting down its stand-alone app on Tuesday, according to a company blog post.
This news might be alarming if you’re one of the over 150 million customers in the U.S. who use Zelle for person-to-person payments. But only about 2% of transactions take place via Zelle’s app, wh
IPO-bound Chime hopes to boost growth by offering higher interest rates
As it gears up to go public, Chime is going all in on new features in an effort to attract more customers.
The digital bank is offering customers who agree to have their paychecks directly deposited into a Chime savings or checking account an APY of 3.75%, it tells technewss exclusively. For thos
YC alum Mendel, a 'Ramp for LatAm enterprises,' raises $35M Series B
Mexico City-based Mendel has raised $35 million in a Series B round of funding, it tells technewss exclusively.
Corporate spend management platform Mendel last raised in December 2021 — a $15 million Series A round and $20 million in debt — after participating in Y Combinator's Wi
Times Internet spinout Abound raises $14M to let more Indian Americans send money home
Abound, a remittance app that was spun off by Times Internet in 2023, has raised $14 million in its first external funding round as it aims to reach more Indian expats in the U.S.
Remittance flows to India are rising as the Indian diaspora spreads worldwide. In 2024, the South Asian country recor
Ex-Network International execs raise $6.75M for Enza, an African fintech serving banks
Over the past decade, Dubai-based Network International has become one of the dominant payment processors across the Middle East and Africa, thanks in part to a pair of acquisitions.
However, many large incumbents can fall prey to slower innovation, opening the door for smaller, faster-moving star
Klarna nabs Walmart away from Affirm and boosts its IPO prospects
On the heels of its IPO filing, Swedish fintech giant Klarna announced on Monday that it will exclusively provide buy now, pay later loans for Walmart. The partnership with Walmart is one that rival Affirm had previously owned.
Klarna will provide the loans to Walmart customers through OnePay, a f
BaaS startup Synctera raises $15M, signs Bolt as a customer
The banking-as-a-service space took a hit last year when Synapse collapsed. But that hasn't stopped BaaS startup Synctera from raising another $15 million in funding, it tells technewss exclusively.
Synctera works to provide companies “of all shapes and sizes with everything they need to la