Decode Fintech

Issue 165

Mar 13 - Mar 19, 2023

Hi there,

Are you a startup looking to apply to Y Combinator? We’re inviting you to our live webinar next week, where we’ll discuss the process of applying to YC as an African startup. During this one-hour event, four YC founders (two of whom are Paystack alumni) will share what their application process was like, what you should optimize for, pitfalls you should avoid, and more!

Date: Thursday, March 30

Time: 3 pm to 4 pm (WAT)

In addition, if you’re currently applying for the YC Summer 2023 batch, our friends at Stripe would be happy to help you review your application before you submit.

Click here to share your application with the Stripe team.

⏰ Deadline: Friday, March 31

Stay safe and have a great week.

Tochukwu Ironsi

Market Intelligence Specialist

Payments

Nigeria

FairMoney acquires PayForce. FairMoney, a credit-led neobank based in Nigeria has acquired PayForce, the merchant payment and business subsidiary of CrowdForce. The acquisition, reportedly valued between $15-20 million, will enable FairMoney to expedite the growth of its emerging merchant-focused business. TechCrunch

Regulation

Rwanda

Flutterwave secures two new licenses in Rwanda. The pan-African payments company has acquired Electronic Money Issuer (EMI) and Remittance licenses from the Rwandan central bank. These new licenses will enable Flutterwave to offer payment services to businesses and cross-border solutions to customers in Rwanda. PYMNTS

Fundraising

Global

Monnai raises $6.5 million in Series A funding. Tiger Global led the investment into the fraud detection and analytics startup which primarily serves financial institutions. The round will be used to improve its AI-powered decision solutions. Venturebeat

Nigeria

One Pipe secures a $4.8 million credit line from TLG Capital. The deal was completed by the TLG Africa Growth Impact Fund (AGIF) and will be used to fund OnePipe's inventory finance solutions for small businesses. TechCabal

Morocco

Konta raises $1.15 million in funding. Led by the Azur Innovation Fund, this investment in the Moroccan spend management startup will be used to accelerate product development. WeeTracker

Share a tip

Do you have an announcement, event, or job posting you'd like to share, or have you come across an interesting bit of African fintech news recently? Hit reply and let me know! I might be able to include it in next week's newsletter.