Author: Insider Editor

South African fintech Stitch has acquired ExiPay in a strategic move to enter the in-person payments space. Known for its expertise in digital payments and financial infrastructure, Stitch is now broadening its reach to include physical transactions, strengthening its position in the evolving fintech landscape. With this acquisition, Stitch aims to provide seamless payment solutions across both online and offline channels, catering to a wider range of merchants and consumers. This move signals the company’s commitment to building a more integrated and versatile payment ecosystem in South Africa and beyond. South African fintech Stitch is making a bold move into…

Lemfi, a financial services platform catering to immigrants in 22 countries, has officially acquired Irish currency exchange Bureau Buttercrane, a move that strengthens its regulatory position and accelerates its European expansion. With approval from the Central Bank of Ireland, Lemfi can now operate across the European Economic Area (EEA) using passporting rights, unlocking new growth avenues. This acquisition is a strategic response to post-Brexit regulatory hurdles. While Lemfi already secured a UK license in 2021 through its acquisition of RightCard, it couldn’t process European transactions directly—until now. “Rather than focusing on Buttercrane’s tech stack or profitability, the acquisition was driven…

Africa Tech Summit Nairobi is excited to announce that Raenest, the innovative Nigerian fintech platform, will return as the headline sponsor for the second consecutive year. This partnership reaffirms Raenest’s commitment to supporting the growth and collaboration within Africa’s dynamic tech ecosystem. The seventh edition of the Africa Tech Summit Nairobi, powered by Raenest, is scheduled for February 12th and 13th, 2025, at the Sarit Expo Centre. As the largest pan-African tech event in the region, the summit will bring together over 2,000 industry leaders, corporates, investors, and international delegations. The event will feature a dynamic mix of B2B networking,…

GITEX Global, one of the world’s largest technology events, is set to host the 2025 edition of AI Everything in February. The event will bring together global leaders, innovators, and industry experts to explore cutting-edge advancements and applications in artificial intelligence. As a premier platform for showcasing AI-driven solutions, AI Everything 2025 will highlight transformative technologies across industries such as healthcare, finance, education, and manufacturing. It will also feature keynote speeches, panel discussions, and live demonstrations, fostering collaboration and insights into the future of AI. With the rapid evolution of AI technologies, the event promises to be a focal point…

Bolt, the mobility and delivery giant, has made a bold move into grocery delivery, even as many other players are retreating from the space. While competitors scale back due to the challenges of profitability and operational complexity, Bolt sees an opportunity to carve out a niche in the fast-growing on-demand grocery sector. This strategic pivot highlights Bolt’s ambition to diversify its services beyond ride-hailing and food delivery, leveraging its existing logistics network to meet the rising demand for convenience. By entering a market that others are abandoning, Bolt is betting on its ability to streamline operations and deliver value to…

Global payments leader Visa has made a strategic investment in Moniepoint, Nigeria’s leading fintech unicorn. This milestone comes just three months after Moniepoint’s $110 million Series C funding round, which propelled its valuation past the billion-dollar mark. The investment signals growing global interest in Moniepoint, widely regarded as a transformative force in African financial services. Moniepoint, founded in 2015, provides critical banking and payment solutions tailored for small and medium-sized businesses (SMEs). With over 300,000 agent banking locations and a record-breaking 5.2 billion transactions processed in 2023, the company has cemented its position as a leader in Nigeria’s financial sector.…

Kenya has announced that it will mandate social media companies to establish physical offices in the country, according to a statement from the Ministry of Interior and National Administration following a meeting with stakeholders from the telecommunications and social media sectors on Thursday. This move signals the government’s intention to implement stricter social media regulations. The Ministry highlighted that the decision was made to address the misuse of technology and social media, including issues such as harassment, hate speech, and incitement to violence, while also promoting the physical presence of key operators. This call for greater regulation of social media…

Piggyvest, a nine-year-old Nigerian savings platform, paid ₦835 billion to customers in 2024, surpassing 5 million users. Since launching in 2016, customers have withdrawn over ₦2 trillion, a portion of the total deposits held by the platform. “2024 was our most profitable year, marked by significant growth and focus as a company,” said Somto Ifezue, CEO and co-founder of Piggytech Global Limited, Piggyvest’s parent company. Piggytech also owns PocketApp, a payments app that reached ₦1 trillion in transaction volume in 2024. Piggytech, the parent company of Piggyvest, Piggyvest Business, and PocketApp, processed over ₦2 trillion in transactions in 2024. CEO…

Waza a YCombinator-backed B2B payments platform, has introduced Lync, a banking solution designed to help businesses manage multi-currency accounts and process international payments. This launch follows Mercury’s July 2024 decision to restrict account access for startups in 13 African countries due to compliance adjustments. With demand for alternatives on the rise, Waza aims to compete with other players like Raenest, Leatherback, and Vesti in this evolving market. Maxwell Obi, Waza’s co-founder and CEO, highlighted Lync’s advanced banking infrastructure, which includes ACH, Fedwire, SWIFT, and local payment rails like the UK’s Faster Payments. These features allow businesses with global operations to…

SeamlessHR, a Nigerian HR tech company, has successfully secured a $9 million Series-A extension, according to sources familiar with the matter. The funding round saw participation from the Gates Foundation and Helios Digital Ventures. Previously, the company raised $10 million in its Series A round in 2022. Since its inception in 2018, SeamlessHR has steadily grown to become a key player in Africa’s HR tech sector. Its cloud-based HR software offers a range of tools, including core HR functions, payroll, performance management, and recruitment. In 2024, the company expanded its portfolio with an e-procurement platform. SeamlessHR’s clientele includes prominent organizations…