Float founder and CEO Alex Forsyth-Thompson South African fintech start-up Float has raised US$2.6-million (R46-million) in new funding for local expansion, to enhance its proprietary technology and to prepare for international growth. The four-year-old card-linked instalment platform currently serves about 2 000 retail stores and processes thousands of high-value transactions monthly, with average order values…
TLDR The Meltwater Entrepreneurial School of Technology (MEST) has launched applications for the seventh edition of the MEST Africa Challenge, this year focused on fintech MEST runs a pan-African software training programme, seed fund, and incubator that supports early-stage technology ventures Its annual challenge, now in its seventh year, awards winners $50,000 in equity funding…
Nedbank has acquired Durban-based payments fintech iKhokha in an all-cash deal valued at R1.65 billion. This acquisition is a significant move for Nedbank, as it looks to strengthen its support for small and medium-sized enterprises (SMEs) in South Africa. Read: Bandwidth Blog & Smile 90.4FM Tech Tuesday: iPad Pro and VR? “The acquisition is a…
Visa has selected 22 startups for the fourth cohort of its Africa Fintech Accelerator, a 12-week virtual programme aimed at scaling fintech solutions The programme is part of Visa’s $1 billion commitment to Africa’s digital and financial inclusion, pledged through 2027 Launched in 2023, the accelerator has supported 64 startups to date and facilitated nearly…
Artificial intelligence is increasingly being used in the financial services industry. As artificial intelligence (AI) takes on a growing role in financial services, from granting loans, to automating small-business bookkeeping, banks grapple with how to use it responsibly and authorities seek to put rules in place. Ciko Thomas, group managing executive of personal and private…
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., at the Institute of International Finance (IIF) during the annual meetings of the IMF and World Bank in Washington, DC, US, on Thursday, Oct. 24, 2024. Kent Nishimura | Bloomberg | Getty Images JPMorgan Chase says fintech middlemen — the companies that have helped a…
Stitch has announced that it has acquired Efficacy Payments, enabling it to offer card acquiring services directly to merchants as a designated clearing system participant (DCSP) and provide more seamless and cost-effective transactions. Image supplied “We’re excited to welcome the Efficacy team into the Stitch Group and offer this critical solution to the merchants we…
Jon Jacobson, co-founder and group CEO of Omnisient, and Lee Naik, regional president and CEO of TransUnion Africa, signing the deal. Credit bureau TransUnion has made a minority investment and broader strategic partnership with Omnisient, a South African-founded fintech firm operating internationally that offers a privacy-preserving data collaboration and advanced analytics platform. In a statement,…
Pali Lehohla, former statistician-general; Thabang Mkhuma, technical advisor at 4IR MICT; Nobesuthu Ndlovu, director of SME at Old Mutual Corporate; Lincoln Mali, CEO of Lesaka Technologies; and Talifhani Banks, CEO of Analytics X and Spaza Eats. Old Mutual SMEgo yesterday launched its second edition of the SMEGo Pitchathon, for businesses in ICT and financial services,…
