Fintech

South African digital banking platform TymeBank has raised $77.8 million in a pre-Series C round led by African-focused growth-stage fund Norrsken22 and Swiss global impact investment firm Blue Earth Capital. TymeBank expects to close its Series C round later this year, it said in a statement. Tenc

Venmo announced today that it’s introducing teen accounts, allowing parents and legal guardians to open a Venmo account for their teenagers so they can send and receive money. The account, which has no monthly fees, also comes with a Venmo Teen Debit Card. Each Venmo Teen Account is connected

Sabi, a Lagos-based B2B e-commerce startup providing digital commerce infrastructure to Africa's informal economy, has raised $38 million in Series B funding at a valuation of $300 million, according to two people familiar with the matter, signaling revived investor interest in a B2B e-commerce

Step, the digital banking service geared toward teens and young adults, is now offering a 5% rate on its savings accounts. With just one in three Americans having adequate savings for emergencies, Step is among dozens of startups, like Current, Greenlight, Super.com and Hyve, focused on helping

In 2018, Nelson Chu founded Percent with the goal of bringing investors, borrowers and underwriters together to modernize private credit. Seeing an opportunity to tackle the lack of risk management in the market, Chu created a marketplace that enables investors — specifically accredited retai

Egyptian fintech Axis has launched its digital payments platform to the North African market after securing a license from the apex bank, Central Bank of Egypt (CBE), for its open-loop mobile wallet, axisPay, which offers a digital banking alternative for small businesses and their employees.  Thi

Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 million seed funding, and an additional $1 million commitment for on-chain liquidity, in a round led by early-stage backer TCG Crypto, with participation from a number of funds includi

After the recent failures of financial institutions like FTX and Silicon Valley Bank, regulators have been blamed for poor examination processes and enforcement regarding the regulations financial organizations in the U.S. must follow. However, our experience with the Security and Exchange Commissi

The business of platforms for purchasing goods and services — in other words, procurement — is alive and well. Case in point, Zip, a startup developing procurement software, yesterday announced its $100 million Series C funding led by Y Combinator with participation from CRV and Tiger G

M-KOPA, the asset financing platform that offers underbanked African customers access to “productive assets” and the ability to pay for them via digital micropayments, has secured more than $250 million in new funding.  The capital injection includes $55 million in equity and over $200 million

While rapidly rising interest rates in the United States have caused more than a few financial institutions to topple, a group of well-known fintech companies are posting signs of a comeback. Both Coinbase and Robinhood reported better-than-anticipated revenue in the first quarter. This is welcome

Better Tomorrow Ventures' Sheel Mohnot landed some of his biggest wins before he ever started a venture firm. The investor previously worked as a partner at 500, previously known as 500 Startups, where he raised and ran a dedicated fintech fund as well as helped build an accelerator. There he m

Creating your own payroll tool can be expensive and take years to accomplish. Salsa thinks it should be quick and easy for software companies to embed and launch payroll features. The company secured $10 million in funding to do just that: provide APIs for developers to add revenue-generating payro

Paytm, India’s leading mobile payments firm, reported a 13.2% surge in revenue to $285.7 million in the quarter ending March and pared its loss by 57% to $20.5 million in a sharp turnaround for the company that is increasingly trying to become profitable following a tremulous year and a half