Chikodi Ukaiwe

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.

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Nigerian Fintech, BillBoxx, Raises $1.6 Million in Pre-Seed Funding Round After Facilitating $4 Million via its #MVP " We invested in the company due to the large market size of the opportunity, impressive early traction gained from strong early partnerships with notable large corporates and startups, as well as the solid #tech product the team has developed." - CEO, 54 Collective Learn more here: https://lnkd.in/dUqcnrjq 

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Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round to scale its operations, refine its offerings, and expand its team. The funding, a mix of debt and equity, was secured from prominent #investors, including Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. #funding #seedfunding #investment #businessverge Read the full article here: https://lnkd.in/dcVDuzk5

Nigerian fintech innovator Grey (YC W22) has forged a strategic alliance with dLocal, a prominent player in the cross-border payment sector, to facilitate its growth into new and emerging markets. Founded in 2021 by visionaries Idorenyin O. 0bong and Joseph Femi Aghedo, Grey has quickly become a go-to service for international money transfers, offering its users the ability to swiftly send and receive payments across borders without limitations. The company’s offerings include the provision of foreign bank accounts, instant currency exchange services, and seamless international money transfers. Having secured a US$2 million investment in 2022 with the support of Y Combinator, Grey is on an aggressive expansion path, with Kenya serving as its gateway to the East African market. dLocal specializes in enabling local payment transactions in fast-growing economies, bridging the gap between global merchants and consumers across continents including Africa, Asia, and Latin America. The collaboration with dLocal will empower Grey to extend cross-border payment services to wallets and bank accounts in new territories such as Brazil, Indonesia, Mexico, the Philippines, and South Africa. Click the link to read more: https://lnkd.in/dnUYEduH   #innovationvillage #grey #dlocal #fintech #partnership #ycombinator #techtrends #technews #innovation #emergingmarkets #africabusiness

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South African NASDAQ-listed fintech company Lesaka Technologies Inc. is set to acquire adumo, a South African payment platform, for $85 million (R1.59 billion) in cash and equity. The deal is expected to be done by Q3 2024 and will extend Lesaka’s reach in Southern Africa to five countries. “Founded in 2019, Cape Town-based Adumo provides card-acquiring POS devices, integrated payments and reconciliations services to merchants and consumers. The company claims to process over R24 billion ($1.3 billion) annually and has 23,000 merchants and 240,000 consumers using its services respectively. “According to Lesaka, the acquisition will give the company a footprint of 1.7 million active consumers and 119,000 merchants across South Africa, Namibia, Botswana, Zambia, and Kenya. ‘The acquisition reinforces Lesaka’s position as a natural consolidator of Southern African Fintech and will enhance our strengths in both the consumer and merchant markets,’ the company said in a statement.” Via TechCabal. https://lnkd.in/d4SjKvEC #fintech #financialservices #africa #payments #acquisition #expansion #growth

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Announcement: Launch of J-Pay Africa App by Jellyport Tech Africa Ltd Dear Esteemed Customers and Partners, We are excited to unveil the imminent launch of the J-Pay Africa App by Jellyport Tech Africa Ltd—a revolutionary fintech application poised to transform the financial landscape of Africa. Developed on the robust Flutter framework, J-Pay Africa represents the pinnacle of innovation, offering a comprehensive suite of financial services to empower individuals and businesses across the continent. Key Features: - E-Wallet: The cornerstone of J-Pay Africa, our E-Wallet is primed for testing and use, providing users with a secure and efficient means to manage their finances seamlessly. - Cryptocurrency Wallet: Embracing the future of finance, J-Pay Africa includes a Cryptocurrency Wallet, enabling users to engage in digital asset management with confidence and ease. - Mobisave Wallet/Platform: With Mobisave, users can effortlessly save and invest their money, harnessing the power of financial technology to achieve their goals. - Mobisurance Wallet/Platform: J-Pay Africa extends its reach to insurance services through Mobisurance, offering peace of mind and financial security to our valued users. - NFT Wallet: As the NFT market continues to burgeon, J-Pay Africa ensures users can securely store and trade their digital assets with our NFT Wallet functionality. J-Pay Africa is more than just an app—it's a beacon of financial empowerment. As a flagship product and subsidiary of Jellyport Tech Africa Ltd, we are committed to redefining financial inclusivity by providing accessible, secure, and innovative financial tools to individuals and businesses alike. While the app is still undergoing development, we invite you to be part of this transformative journey. Your feedback and support are invaluable as we strive to perfect the J-Pay Africa experience for our esteemed users. Stay tuned for updates on the official launch date and how you can be among the first to experience the future of finance in Africa with J-Pay Africa. Thank you for your unwavering support. Warm regards, Mr Ernest Kimathi, Chief Executive Officer & Founder Jellyport Tech Africa Ltd

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Transform your payment experience with JamboPay! Download the JamboPay App and enjoy seamless transactions at your fingertips. 🙌💰 #Fintech #SeamlessTransactions

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Nigerian 🇳🇬 fintech Billboxx has raised $1.6M in pre-seed funding to enhance its cash flow and invoicing solutions for SMEs. Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, the platform helps SMEs tackle delayed payments through invoice financing. Backed by investors like Norrsken VC Accelerator and Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures, the funding will support Billboxx's growth and expansion 📈. 🚀 Billboxx processes ₦1 billion monthly with no defaults, specializing in SME-focused invoice financing and operational tools. It charges up to 5% for financing and 1.5% for transactions. By partnering with larger enterprises, Billboxx supports SMEs and serves clients like Monument Distillers Nigeria Limited and International Institute of Tropical Agriculture (IITA). 🎯 Looking forward, Billboxx plans to expand across Africa and introduce a new feature that will connect SMEs to market opportunities within corporate ecosystems. While specific details remain under wraps, Obaoye highlighted the company’s vision of fostering growth and providing impactful solutions for Africa's SMEs. Read more: https://lnkd.in/dvcfRd3T TechCabal ✨Stay in the know! For the latest African news and insights, follow our WhatsApp channel - https://lnkd.in/ddAsW5S4  and never miss an update! 🌍📲 #Africa #Nigeria #FinTech #Funding #Growth 

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𝐍𝐢𝐠𝐞𝐫𝐢𝐚𝐧 𝐒𝐭𝐚𝐫𝐭𝐮𝐩 𝐉𝐮𝐢𝐜𝐲𝐰𝐚𝐲 𝐑𝐚𝐢𝐬𝐞𝐬 $𝟑𝐌 𝐏𝐫𝐞-𝐒𝐞𝐞𝐝 Juicyway, a Nigerian cross-border payments startup, has secured $3 million in pre-seed funding led by P1 Ventures, with participation from notable investors including Ventures Platform Fund, Future Africa, MAGIC Fund, and Microtraction, along with Angel Investors Network. The company founded in 2021, by Ife Johnson and Justin Ziegler has processed $1.3 billion in total payment volume for over 4,000 customers since its first $9 transaction in November 2021, operating as a marketplace that facilitates currency conversion between local and foreign currencies. Juicy platform distinguishes itself through a hybrid approach combining decentralized finance (DeFi) and traditional finance (TradFi), allowing businesses to make cross-border payments using stablecoins like Tether and USDC. Juicyway's marketplace model matches customers exchanging currencies without acting as a counterparty, enabling market-influenced pricing that can result in favorable foreign exchange deals for businesses while generating revenue through transaction fees and spreads. The new funding will be allocated to expanding marketing and business development teams, improving technology infrastructure, and scaling operations across its current markets. With plans for another funding round in the next 18-24 months, Juicyway aims to address the persistent challenge of foreign exchange access for Nigerian businesses engaged in international transactions. #FintechInnovation #Juicyway #Stablecoins #DeFi #TradFi #NigerianStartups #FintechAfrica

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#Flutterwave's Ambitious Plans: New Hires and IPO Prospects #FintechLeadership Flutterwave, Africa's fintech powerhouse valued at $3 billion, is gearing up for its next growth phase. With the appointment of Mitesh Popat as CFO, the company is enhancing its leadership team, aiming to expand its footprint further across Africa and beyond. CEO Olugbenga Agboola envisions Flutterwave becoming the "Adyen of Africa," focusing on enterprise solutions and remittances. The company has also obtained new licenses in several African countries and expanded its reach to 49 U.S. states. Despite recent workforce reductions and the shutdown of its consumer app Barter, Flutterwave is doubling down on its core products to drive sustainable growth. How do you foresee Flutterwave's strategy influencing the fintech landscape in Africa and globally? #Flutterwave #Fintech #Africa #EnterpriseSolutions #IPO #Leadership #SaaSverse

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Fintech is rewriting Africa’s story, with companies like Moniepoint Group that just recently hit a billion-dollar valuation to Paystack and Flutterwave that have made it easier for thousands of businesses to scale vastly. In this week’s edition of Communiqué, we dive deep into how fintech is paving the way for a new era of opportunities for businesses and creators. We discuss everything. From payment infrastructure to railroads, and Big Brother Naija. As always, the link to read is in the comment section.

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𝐌𝐨𝐧𝐢𝐞𝐩𝐨𝐢𝐧𝐭 𝐫𝐚𝐢𝐬𝐞𝐬 $𝟏𝟏𝟎𝐦 𝐭𝐨 𝐛𝐞𝐜𝐨𝐦𝐞 𝐀𝐟𝐫𝐢𝐜𝐚’𝐬 𝐥𝐚𝐭𝐞𝐬𝐭 𝐮𝐧𝐢𝐜𝐨𝐫𝐧 Moniepoint Group has successfully raised $110 million in its latest Series C equity financing, propelling the Nigerian fintech to unicorn status with a valuation of $1 billion. Led by Development Partners International’s African Development Partners (ADP) III fund, the funding round also attracted investments from Google’s Africa Investment Fund, Verod Capital, and existing investor Lightrock. This substantial capital injection will accelerate Moniepoint’s expansion across Africa, enhancing its all-in-one platform designed for businesses of all sizes. The company currently processes over 800 million transactions monthly, valued at more than $17 billion, and has seen its annualized revenues grow to over $100 million despite challenges like naira devaluation. Recognized as the second-fastest-growing company in Africa by the Financial Times in 2023, Moniepoint continues to lead Nigeria’s agent banking space, demonstrating significant growth with a 205% increase in transaction value and processing over $150 billion in 2023 alone. This funding round, which follows a previous $55 million investment, included a secondary sale with a discounted valuation that attracted various investors. Moniepoint, recognized as one of Africa's fastest-growing companies by the Financial Times in 2023, has established itself as a market leader in Nigeria's agent banking space while providing retail banking services and catering to small and medium businesses.

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Flutterwave, a Nigerian fintech startup, achieved a remarkable 300% growth in transaction volume in 2020, processing over $9 billion. This impressive growth is a testament to the company's innovative payment solutions, which have attracted over 290,000 businesses globally. Founded in 2016, Flutterwave has rapidly expanded its footprint across Africa, becoming a key player in the fintech industry. With a mission to simplify payments for endless possibilities, Flutterwave offers various services, including payment processing, gateway solutions, and remittance services. The company's success is driven by its commitment to providing seamless and secure payment experiences, catering to various sectors such as e-commerce, travel, and hospitality. In addition to its impressive transaction volume, Flutterwave has raised over $235 million in funding, attracting investments from prominent firms like Tiger Global, Greycroft, and Y Combinator. This funding has fueled the company's expansion into over 33 African countries, enabling it to support diverse payment methods and currencies. Flutterwave's impact goes beyond financial growth. The startup has created thousands of jobs, contributing to economic development and financial inclusion across the continent. By empowering small and medium-sized enterprises (SMEs) with robust payment solutions, Flutterwave is playing a crucial role in driving digital transformation in Africa. This success story underscores the immense potential of African fintech startups in addressing the continent's unique challenges and opportunities. Flutterwave's journey from a fledgling startup to a fintech powerhouse is an inspiring example of innovation, resilience, and strategic vision in the rapidly evolving financial landscape. #CaseStudy #Fintech #AfricanStartups #Innovation #DigitalTransformation #EconomicDevelopment #SMEs #Investment #Growth

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