Listed here are the 5 African fintech firms listed among the many world’s High 100 Cross-Border Funds Corporations in 2022
Buyer focus: Shoppers, B2B Funds
Primarily based in San Francisco, US, Chipper Money builds software program to allow free and instantaneous peer-to-peer cross-border funds in Africa and Europe, in addition to options for companies and retailers to course of on-line and in-store funds. In November 2021, the corporate raised $150m in a Sequence C extension spherical and was given a $2bn valuation, taking it into unicorn territory.
Buyer focus: SMEs, Massive Enterprises, Fintechs
Flutterwave is a Nigerian fintech offering fee infrastructure for international retailers and fee service suppliers in Africa. In February, it noticed its valuation develop to $3bn in a Sequence D funding spherical – greater than triple its valuation twelve months earlier.
Buyer focus: Retailers, SMEs, Monetary Providers
MFS Africa is a pan-African firm working the most important digital funds gateway on the continent. In November 2021, the enterprise raised $100m by means of its fairness and debt financing spherical. It connects greater than 250 service provider prospects throughout 35+ African international locations and 700 corridors.
Buyer focus: Remittances
Mukuru affords money collections and financial institution and cell pockets top-up companies, permitting folks to ship cash to Africa from the remainder of the world. It lately partnered with WorldRemit to grow to be its remittances payout companion in territories the place it has a longtime community.
Buyer focus: Remittances
Based by Vodafone and Safaricom (a number one telecoms supplier in Kenya), M-PESA is a cell phone-based cash switch service. It allows cross-border funds for greater than 51 million prospects throughout seven international locations in Africa with safe worldwide transfers through their cellphones. Greater than $314bn in transactions is shipped yearly, with Kenya and Tanzania its two greatest markets.
