Fintech

Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. technewss first got a whiff of the layoff news on LinkedIn, where Jessica Chervin, a former Andela executive who joined Wave as an expansion lead in March, wrote t

The remittance inflows to sub-Saharan Africa over the past decade have been on an upward trajectory since 2020; last year, it increased by more than 6% to $45 billion. However, the steady rise of remittance inflows to the region hasn't made this activity cheaper. According to the World Bank, su

Quiltt is wrapping its warm low-code fintech infrastructure blanket around startups and small businesses that want to create financial services for their customers, but don't have the budget resources for a big engineering team. Ruben Izmailyan and Mark Bechhofer came up with the idea for Dalla

Flutterwave has come out to deny the fraud and money laundering claims leveled against it by Kenya's Asset Recovery Agency, which investigates and recovers proceeds of crime. This is after a total of $52.5 million in 62 accounts linked to Flutterwave and six other companies that are recipients

YuLife originally made a name for itself in its home market of the U.K. for its new approach to the provisioning of life insurance: Yes, sell a policy that provides financial security to your people in the event of your death, but do so with a focus on improving the policyholder’s current lif

Loft, a Brazilian proptech unicorn, has laid off about 380 employees, or 12% of its workforce, the company announced today. The layoff marks the company's second round of cuts this year so far. In April, Bloomberg Linea reported that Loft had cut 159 jobs. That would mean that Loft has let go

In a sign of the times, Swedish buy now, pay later giant Klarna is reportedly close to inking a new round of funding that would slash its valuation to $6.5 billion — about 1/7 of what the company was valued in June of 2021. The Wall Street Journal reported today, citing anonymous sources, tha

The recent collapse of UST has once again demonstrated that many of the so-called stablecoins in the web3 world today are tied to high-risk and often unsustainable assets. As decentralized finance attempts to expand its reach, it appears to be in dire need to find alternative sources of yields. Dur

"speakable-summary" dir="ltr">Most Americans dread doing their taxes. Surveys show as much. But as many as 40% rely on money from tax refunds to satisfy some financial obligation. Ben Borodach, a former Deloitte fintech strategist and the CEO of tax service provider April, believes this points to th

After a 12-year run, Pinterest co-founder Ben Silbermann is stepping down from his perch as CEO of the popular image and link-sharing service. Following word of Silbermann’s departure, Pinterest’s stock price rose by more than 8% in after-hours trading. That initial pop may have been a

The House Committee on Financial Services released a report late last week offering a harrowing glimpse inside Robinhood during the frenzy around Gamestop stock early last year. The stock trading and investing app was blindsided by the surge in interest from the first big “meme stock” a

Over the last decade, one tech sector that affects everyone's quality of life — from where we live to what we put in our homes — has come a long way. Proptech has made our lives easier with innovations like smart homes, Airbnb, and the ability to shop for and secure a mortgage from our phon

Payments giants and fintech startups in India on Saturday requested the central bank to treat widely used prepaid payment instruments on par with bank accounts for customers who have undertaken certain verifications, days after the monetary authority signalled industry-wide crackdown. The Payments

Brex's announcement last week that it would stop serving small-to-medium-sized businesses shocked — and upset — many in its suddenness and delivery. The fintech decacorn, which started its life as a provider of cards to startups and SMBs, began notifying customers last week that they would