Startup Rise Africa News’ Post

🚀 #FundingAlert — dopay, a fintech startup providing a digital payroll and payments platform for unbanked and underbanked workers in emerging markets, has closed a strategic $13.5 million Series A extension round. This funding milestone tops up a previous $18 million Series A funding round. Led by Argentem Creek Partners with participation from existing investors, this funding will accelerate Dopay's expansion in Egypt and support the launch of new financial services. Founded by Frans van Eersel (CEO), Dopay is part of Hub71, Abu Dhabi’s global tech ecosystem. Dopay digitizes cash payments, transforming cash-based economies. For more information, check out the news: 🔗 https://lnkd.in/gqB2NHyD ━━━━━━━━━━━━━━━━ #FundingNews #FinTech #Payroll #SeriesAFunding #TechInnovation #InvestmentNews #Dopay #Egypt #FinancialInclusion #Hub71 #ArgentemCreekPartners #FransVanEersel #DigitalPayments #EmergingMarkets #AbuDhabi #UAE #MENA

#Fintech players continue to evolve and improve the financial services scene. Now that #digitalbanks have entered the arena, it'll be interesting to see how the industry changes. Indeed these are some of the top names to look out for in this space.

OPay Pakistan, a leading unicorn in the fintech industry backed by world-class investors, firmly denies all allegations made by Finja. The acquisition of Finja by OPay is governed by a legally binding agreement, and OPay encourages Finja to fulfill its obligations under this agreement. OPay asserts it will not be coerced into making payments beyond what is legally agreed upon. As a responsible multinational fintech, OPay remains steadfast in meeting all its financial commitments. Pakistan remains a crucial market for OPay, and the company is dedicated to shaping the future of fintech in the country, appreciating the support of regulatory authorities. #Opay #Finja #Pakistan

Pakistan's leading fintech PostEx set for Saudi expansion with $7.3mn raise: Pakistan's leading fintech PostEx set for Saudi expansion with $7.3mn raise. New investment to strengthen market position in Pakistan and ...

dopay Secures $13.5 Million Series A Extension to Fuel Expansion in Emerging Markets Dopay, a pioneering fintech startup, has secured a $13.5 million Series A extension to expand its innovative payroll and financial services across emerging markets. The funding round, led by Force Over Mass Capital and FMO, marks a significant milestone in Dopay's mission to enhance financial inclusion for unbanked and underserved employees. Dopay's platform addresses the financial needs of employees by providing digital wallets and tools that enable instant access to their salaries. This development is expected to drive economic growth and improve financial stability in regions where traditional banking services are limited. Key Points: » $13.5 million Series A extension led by Force Over Mass Capital and FMO. » Expansion focus on emerging markets. » Empowerment of unbanked employees with digital financial solutions. » Promotion of financial inclusion and economic growth. Dopay's commitment to transforming financial services in emerging markets sets a new standard in the fintech industry. #Fintech #EmergingMarkets #FinancialInclusion #Innovation #StartupSuccess #Rasmal

Swypex Raises $4M to Transform B2B Financial Workflow in Egypt. Egyptian fintech startup Swypex has successfully raised $4 million in a seed investment round led by Accel, with contributions from Foundation Ventures and The Raba Partnership. Licensed by the Central Bank of Egypt, Swypex provides a comprehensive financial platform that integrates payments, invoice management, and smart corporate cards. This platform is designed to simplify financial operations for businesses, enhancing financial visibility and control while reducing inefficiencies. Swypex aims to address the challenges faced by businesses due to fragmented financial processes and the high costs of employee fraud, which averages a 5% revenue loss annually. The company's founders, Ahmad Mokhtar (CEO), Tarek Mokhtar (CPO), and Sasan Hezarkhani (CTO), bring technical expertise from their previous roles at major tech companies, positioning Swypex to potentially become a leading fintech solution in the Middle East. #fintech #startup #Egypt #funding #seedfunding #investment #Swypex

Turkish fintech Colendi secures $65M Turkish fintech Colendi has raised a $65M Series B round following its valuation at $700M. The round was led by Citi Ventures, the venture capital arm of Citigroup, with Migros Ticaret A.Ş., Sepil Ventures, Re-Pie Asset Management, Finberg, and Hedef Holding participating. Existing investors also supported. Founded by Bulent Tekmen, Colendi offers services such as fraud protection, ‘financial passports’ and credit scoring without retaining users’ personal data. Colendi launched a new financing round in March and aims to raise more than $150 million by the end of this year. Once the round is completed, Tekmen hopes the company will achieve unicorn status with a $1B valuation. He commented on the raise: "With the Series B round, which was in extreme demand, the necessary investment for the establishment of Colendi Bank was collected." Colendi has 17 million users in Turkey and aims to expand to populous emerging markets, including Pakistan and Indonesia. The company aims to become a major digital banking entity in Europe, the Middle East, and Africa (EMEA), and the Gulf Cooperation Council (GCC). Source Tech EU #fintech #payments #funding

OPay, a leading unicorn in the fintech industry backed by world-class investors, firmly denies all allegations made by Finja. The acquisition of Finja by OPay is governed by a legally binding agreement, and OPay encourages Finja to fulfil its obligations under this agreement. OPay asserts it will not be coerced into making payments beyond what is legally agreed upon. As a responsible multinational fintech, OPay remains steadfast in meeting all its financial commitments. Pakistan remains a crucial market for OPay, and the company is dedicated to shaping the future of fintech in the country, appreciating the support of regulatory authorities. Read more: https://lnkd.in/dd3merUC

Jack Ma and the Zobel de Ayala family celebrate a major milestone with Mynt’s $5 billion valuation for GCash, the leading e-wallet service in the Philippines! - 🌟 GCash reaches over 90 million users, covering about 75% of the Philippine population. - 🚀 Mynt, founded in 2015, continues its impressive growth trajectory. - 💼 Ant Group, backed by Jack Ma, and the Zobel de Ayala family's firms are the driving forces behind Mynt. - 💰 Ant Group's stake in Mynt is now valued at $1.2 billion. #fintech #businessgrowth #ecommerce - 📊 Mynt's valuation highlights the growing importance of digital financial services. - 🌐 GCash plays a crucial role in financial inclusion in the Philippines. - 📅 Founded less than a decade ago, Mynt's rapid growth exemplifies the potential of fintech. - 🏆 The collaboration between international and local companies drives innovation in the region. - 🌟 Mynt's success story inspires other startups in Southeast Asia. https://lnkd.in/gX4MZF7Z

🚀 #FundingAlert — Egypt-based fintech Paymob has secured a $22 million Series B extension round, bringing its total Series B funding to $72 million. The round was led by EBRD Venture Capital with participation from Endeavor Catalyst, reaffirming support from existing investors including PayPal Ventures, BII, FMO Investment Management, A15, Nclude, and Helios Digital Ventures. Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob has rapidly expanded its market presence across MENA, offering a comprehensive payments solution suite with over 50 payment methods. The company continues to strengthen its leadership position in Egypt while scaling operations in the GCC. Paymob’s latest funding will help accelerate its growth and roll out new services in key markets such as Saudi Arabia, the UAE, and Oman. For more information, check out the news: 🔗 https://lnkd.in/gq-cfKm3 ━━━━━━━━━━━━━━━━ #FundingNews #Fintech #MENA #GCC #TechInnovation #InvestmentNews #Paymob #EBRDVentureCapital #EndeavorCatalyst #DigitalEconomy #FintechGrowth #SMEGrowth #Payments #Cairo #Egypt