Author: Insider Editor

Kenyan fintech startup WapiPay has expanded into North America after securing a money services business (MSB) licence in Canada, a move that allows it to legally operate cross-border payment services in the country. The licence marks a major milestone for the company as it looks to scale its cross-border payment infrastructure beyond Africa, where it has built its core business facilitating transactions between African and Asian markets. With the approval, WapiPay will now be able to process remittances and cross-border payments involving Canada, opening up new corridors for businesses and individuals, particularly those with trade and payment links to Africa.…

Spiro, one of Africa’s largest electric motorcycle and battery-swapping companies, has secured an additional $55 million in equity funding from Chinese investor NewTrails Capital, pushing its recently announced funding round to $270 million. The latest investment comes just three weeks after the company revealed a record $215 million raise, one of the largest funding rounds ever announced in Africa’s electric mobility sector. With the new capital injection, Spiro’s total disclosed funding has now reached approximately $557 million, reinforcing its position as one of the continent’s best-funded clean mobility startups. The funding follows a key leadership change at the company. Earlier…

Nigerian cryptocurrency exchange, Roqqu, has partnered with US-based tokenised asset manager Ondo Finance to offer blockchain-based versions of US stocks and exchange-traded funds (ETFs) to retail investors. The product is expected to launch at the end of June, according to Roqqu. It will allow Nigerian retail investors to gain exposure to US stocks without going through traditional brokerage channels. “We have set the end of June as the launch date; we’re looking at June 29 to roll this product out so it can be available to all users,” said Emmanuel Peter, Roqqu’s head of trading and markets. “We’re in the…

Moroccan proptech startup Agenz has raised $5 million in fresh funding to accelerate product development and deepen its use of artificial intelligence across its real estate platform. The round attracted backing from Breega, Attijariwafa Ventures, and Saviu Ventures, marking continued investor confidence in the company’s push to modernise how property transactions are handled in Morocco. The new funding comes about three years after Agenz’s $1.3 million pre-Series A round, as Morocco’s property market continues to expand. According to World Bank data, residential land transactions exceeded 140,000 in 2023, underscoring growing demand for digital tools that can simplify buying, selling, and…

The Capital Markets Authority (CMA) approved the listing, which is scheduled for June 23. Unlike a traditional initial public offering (IPO), the move will allow existing shareholders to trade their shares on the NSE without the bank raising fresh capital. The listing comes months after Family Bank raised KES 8 billion ($61.8 million) through a private placement in 2025, surpassing its KES 6.09 billion ($47.1 million) target. The capital raise strengthened the bank’s balance sheet ahead of its market debut. The approval brings to a close a five-year effort by the lender to secure a place on the bourse. It…

Nigerian fintech startup Daya has teamed up with the Aptos Foundation and Dubai-based crypto exchange HashKey MENA to launch a pilot stablecoin settlement corridor designed to simplify cross-border payments between Africa and the Middle East. The initiative will enable businesses to convert local currencies into stablecoins, settle transactions on the Aptos blockchain, and receive funds in local currencies at the destination. By reducing reliance on traditional correspondent banking networks, the partners hope to make international payments faster, cheaper, and more efficient. The partnership also represents Aptos’ latest push into Africa, where demand for stablecoin-powered financial services continues to grow. Originally…

Egyptian fintech startup Blnk has secured $37.1 million in a mix of equity and debt financing as it looks to deepen access to credit for millions of Egyptians who remain excluded from the formal financial system. The funding package includes a $12.5 million Series A equity round led by Algebra Ventures, with participation from SANAD Fund for MSMEs, Endeavor Catalyst, and existing investor Emirates International Investment Company. The company also secured $24.6 million in local currency debt facilities from several banks and non-bank financial institutions, including National Bank of Egypt, Suez Canal Bank, and Bank Al Baraka Egypt. Blnk said…

A Nigerian business banking startup Brass, will cease operating as an independent company and migrate its customers into Paystack Microfinance Bank (Paystack MFB), marking the final chapter of a widely followed fintech turnaround in Nigeria. In a statement on Monday, the company said customer accounts will be transitioned into Paystack MFB before July 31, 2026, as Brass fully integrates its business banking operations into Paystack’s regulated banking infrastructure. “Brass will move its business banking into Paystack MFB,” the company said. “As part of this transition, Brass will no longer operate as an independent entity.” The closure brings an end to…

Nigerian payments fintech Flutterwave, secured a microfinance banking licence in April, has promoted more than 100 employees across its global workforce as it marks its tenth year of operations. The company said the promotions cover about 25% of its global staff, alongside a package of employee support measures including cost-of-living adjustments, tax support for staff in Nigeria, and a one-off global relief payment. Flutterwave did not disclose the job levels or departments of those promoted. The initiative highlights the company’s focus on retaining talent at a time when several Nigerian fintechs, including Branch, Kuda, and Quidax, have cut staff in…

MTN Nigeria is moving to restore its Xtratime airtime lending service following a regulatory pause triggered by changes in Nigeria’s consumer lending rules. The telecom giant is now preparing to reactivate the service after the Federal Competition and Consumer Protection Commission (FCCPC) temporarily suspended enforcement of its Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations (DEON 2025). The suspension effectively reopened the door for the service’s return. “The FCCPC has suspended the enforcement of DEON. To that extent, we will reinstate the service,” the source said. MTN’s latest position marks a shift from comments made during its May 4 earnings…