Hi Fintech friends 👋,

Here are the highlights of what happened in African Fintech this week;

• India based Baas Fintech expanded in Africa with $100 Million funding round   
• A Fintech Investment platform secured a $50K prize from the Ecobank Fintech challenge. 
• A $100 Million debt fund was launched to fund African tech startups.
• African Unicorn expanded its Remittance service to 49 US states.
• Nigeria based Wealth tech platform stopped its virtual card service over fluctuating exchange rate and provider issues.

The long wait is almost over

💸Fundraise and Exits

• Daba Finance secured US$50K from Ecobank Fintech Challenge with its one-stop investment platform for trading stocks, bonds, and other financial products.

💰 Venture Funds

• Amplify Growth Partnership launched  a $100 million growth debt fund, which aims to provide debt capital to tech-focused companies across the MENA.

🚀 Partnerships & Product Launches

• Rise stopped virtual card service over fluctuating exchange rate and provider issues.

• Send App by Flutterwave extended remittance reach to 49 U.S. States with MainStreet Bank partnership.

• Mastercard and KaiOS partnered to bring affordable Payment Devices to SMBs in Africa.
• EA Capital secured Regulatory License in South Africa, bridging traditional finance and Blockchain.

👔 Leadership Lineup

• Binance Executive, Tigran Gambaryan’s Delayed Justice.

📰 News of the Week

• M2P Fintech expanded to Africa with a $100 Million Funding round.

Africa-focused private investment firm Helios Investment Partners led a $100 million Series D funding round for India based M2P Fintech which offers next generation financial services technology to 200+ banks,300+ lenders, and 800+ fintech engagements serving over 50+ million end users.

Madhusudanan R, co-founder and CEO of M2P Fintech said: “this capital infusion will not only reinforce our leadership in India – where we've established a robust, comprehensive ecosystem – but also accelerate our ambitious global expansion efforts. Africa, with its rapidly growing digital economy and pressing need for financial inclusion, presents immense potential for fintech innovation. We're thrilled to partner with Helios, whose deep understanding of the African market, coupled with our powerful platform capabilities, will position us well to deliver on our mission of fostering financial inclusion and innovation”

👀 Eye Openers

• State of payment industry in Africa 

9. First problem being solved: POS and online checkout for merchants: Companies like Paystack, Flutterwave, and more recently Paymob are exploding.

📑 Read of the week

• Stablecoins and cross-border payments.(Frontier Fintech)

📖 Other News, Reads, and Media

• The Central Bank Of Nigeria planned to penalize banks failing to load ATMs with cash.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• AMA with Iyin Aboyeji, Co-founder of two African Unicorns; Flutterwave and Andela.

🦉 Tweet of the Week

🎯 Fintech Opportunities

People will be talking about this event for weeks after it happens.

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