Decode Fintech Logo
Issue 183
Oct 23 - Nov 05, 2023

Hi there,

I furiously binged Mike Flanagan’s The Fall of House of Usher on Netflix recently, and I’m happy to report that I really enjoyed it. It’s a modern horror masterpiece that doubles as a thrilling meditation on guilt, grief, and greed.

Interestingly, it reminded me of the ritual/cult genre of old Nollywood films I grew up watching. Just like Fall of Usher, these films tried to portray greed with blood, and guilt with ghosts, sometimes quite literally.

This is Mike Flanagan’s last project for Netflix, and I’m excited to see what new horrors he makes as he moves over to Amazon Prime Video.

This newsletter was written to New West’s Based on a True Story.

Have a great week!

Tochukwu Ironsi
Market Intelligence Specialist
Paystack has announced a private beta in Côte d’Ivoire, Egypt, and Rwanda! 🚀

Paystack has obtained the relevant authorizations and partnerships to expand into Côte d'Ivoire, Egypt, and Rwanda!

We're currently running a private beta in these countries, so if you'd like to sign up, learn more on the Paystack blog.

NigeriaInterswitch reports $40 million loss in chargeback fraud. Interswitch, a Nigerian payments provider, has disclosed a loss of ₦30 billion (~$40 million). According to the company, this was due to a system glitch that allowed bad actors to file chargebacks and receive refunds. TechCabal
NigeriaHow do Nigerians save and spend their money? PiggyVest, a leading digital savings platform in Nigeria, surveyed 1000 users and shared insights on how they spend, save, and manage their money.  PiggyVest

While the report is based on a survey of a small subset of PiggyVest users, the insights shared are still quite compelling and relevant. As Stephen Deng of DFS Lab notes, the consumer trends highlighted in the report cover similar target demographics for digital consumer apps in Nigeria. 
South AfricaInclusivity Solutions raises $1.5 million Series A extension round. South Africa’s Inclusivity Solutions, an insurtech solutions provider, has extended its Series A funding by $1.5 million, bringing its total Series A funding to $4.5 million. The extension round was led by existing investor, Goodwell Investments, and will be used to drive market expansion and product development. Disrupt Africa
TunisiaMy Easy Transfer secures $450K in funding. My Easy Transfer, a Tunisian cross-border payments startup, has raised $450K from VC firm 216 Capital. The funding will be used to improve its current solutions and develop new products.  Disrupt Africa
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