MoneyFellows raises $13M to take its group savings model outside Egypt
While most African digital lenders depend on working capital to fuel growth, MoneyFellows has quietly done what few others have: lend billions of Egyptian pounds with almost no debt or balance sheet exposure.
Now, after raising $13 million in a pre-Series C round led by Casablanca-based Al Mada Ventures and DPI’s Nclude Fund, the Cairo-based fintech says it’s ready to shift from steady growth to regional expansion.
The round, which also drew participation from Partech Africa and CommerzVentures, brings the company’s total funding to just over $60 million.
Maxim launches cashless payment system for rides in South Africa
Maxim, a new ride-hailing and delivery service, has launched a cashless payment option for services. This is set to increase the speed and safety of transactions to driver-partners.
Simple: Now, users will be able to pay for rides and delivery after adding a bank card to their account only once. All they need to do is open the “Non-cash payment” tab in the app’s menu, tap “Bank cards” and add the details of their card. After that, the payments for future orders will be automatically deducted from the user and credited to the driver-partners’ accounts. This function renders cash unnecessary and ultimately facilitates the payment process.
Safe: Digital payment eliminates the risk of carrying cash, providing a safer option for both passengers and drivers. All transactions are processed by a partner bank, which acts as a failsafe against fraud and personal data theft.
PaySika Named Best Fintech Startup in Central Africa at VISA CEMAC Summit
PaySika has been awarded the title of “Best Fintech Startup in Central Africa” at the VISA CEMAC Client Summit 2025.
The recognition, presented by VISA, highlights the company’s efforts in transforming access to digital financial services across the Central African region.
PaySika described the award as a strong validation of its mission to make finance more accessible, simpler, and inclusive, affirming its belief that it is heading in the right direction.
PayPal launches contactless mobile wallet in Germany
In a global first, users in Germany will soon get access to a contactless feature through the latest version of the PayPal app.
This will enable shoppers to choose PayPal to pay with a simple tap of their phone at any location that accepts Mastercard contactless payments.
In a first for PayPal in Europe, the Pay Later online option will also roll out for use in physical stores in Germany. Users will be able to pay in three, six, 12 and 24-month instalments for in-store purchases with ‘Ratenzahlung To Go’.
Read more: https://www.finextra.com/newsarticle/45931/paypal-launches-contactless-mobile-wallet-in-germany
Qenta acquires Pipit Global to boost cross-border payments and inclusion
Qenta, a global payments and financial technology company, has acquired Pipit Global, a B2B cross-border payments platform operating in more than 45 countries. The move expands Qenta’s reach in emerging markets and enhances its infrastructure for digital and cash-based remittance services.
The acquisition gives Qenta access to over 1 million international pay-in points and establishes integrations with mobile money systems across Africa, Latin America, and Europe. This development aims to accelerate global access to compliant digital payments, mobile money, and cash solutions, particularly for underserved communities and migrant populations.
Ollie Walsh, Co-founder of Pipit Global, has been appointed President of Qenta, where he will lead the platform’s global expansion. Four additional team members from Pipit, including CTO and Co-founder Rory Ryan, will join Walsh at Qenta as the company looks to integrate Pipit’s capabilities into its broader financial ecosystem.
Mastercard, Tamkeen to launch new SME initiative in Bahrain
The Mastercard Center for Inclusive Growth and Bahrain’s Labour Fund (Tamkeen) has announced a landmark strategic partnership to explore projects that promote financial and digital readiness for Small and Medium Enterprises (SMEs) in Bahrain.
The partnership will bring the centre’s flagship small business programme, Mastercard Strive, to Bahrain so SMEs can operate more efficiently through financial and digital tools, said a statement.
A first of its kind, the partnership aims to create a scalable model of collaboration between the kingdom and the centre to drive inclusive economic growth in the country, empower local small businesses and entrepreneurs, and strengthen the Kingdom’s private sector as a key driver of national development.
