interswitch News of 02/26/20
Nigeria Is Becoming Africa’S Unofficial Tech Capital
Africa has one of the world’s fastest growing tech markets and Nigeria is becoming its unofficial capital. While the West African nation is commonly associated with negative cliches around corruption and terrorism — which persist as serious ...
Trump To Halt Immigration From Africa’S Top Tech Hub, Nigeria
The Trump administration announced Friday it would halt immigration from Nigeria, Africa’s most populous nation with the continent’s largest economy and leading tech hub. The restrictions would stop short of placing a full travel ban on ...
2019 Africa Roundup: Jumia IPOs, China Goes Digital, Nigeria Becomes Fintech Capital
2019 brought more global attention to Africa’s tech scene than perhaps any previous year. A high profile IPO, visits by both Jacks (Ma and Dorsey), and big Chinese startup investment energized that. The last 12 months served as a grande ...
Africa Roundup: Nigerian Fintech Gets $360m, Mints Unicorn, Draws Chinese VC
November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian focused payment ventures. That is equivalent to roughly ...
Opera’S Africa Fintech Startup OPay Gains $120m From Chinese Investors
Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera , OPay will use the funds to scale in Nigeria and expand its payments ...
Nigeria’S Interswitch Confirms $1b Valuation After Visa Investment
Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech businesses ...
Africa: More Gazelles At Home Than Unicorn IPOs Abroad
At the recent TechCrunch Disrupt SF, Senegalese VC investor Marieme Diop suggested that Silicon Valley’s unicorn IPO model might not be right for African startups. The is largely because the continent’s startups face a vastly different ...
Africa Roundup: Goldman Backs kobo360, Rwanda Commits To EVs, Interswitch IPO Update
Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers ...