Strandling Exponential Performance with Stringent conformance – the Fintech Dilema
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South African Startup Scale Raises $700K to Expand Across Africa
South African fintech startup Scale has secured $700,000 in pre-seed funding to accelerate its expansion into Kenya, Zambia, and Côte d’Ivoire. The funding round was led by 54 Collective and First Circle Capital, with participation from Sunny Side Venture Partners and angel investors.
Founded in 2022, the startup aims to transform Africa’s payments industry by providing infrastructure to simplify the card issuance process for businesses. It positions itself as an issuer orchestration platform, offering Infrastructure-as-a-Service (IaaS) to address critical payment use cases across the continent.
Read more: https://dabafinance.com/en/news/south-african-startup-scale-raises-700k-to-expand-across-africa
Remita Champions Inclusive Growth at Nigeria Fintech Week 2024
As Nigeria’s financial technology sector continues its transformative journey, Remita, a pioneering payment company, continues to play a key role in shaping the future of the Nigerian and African fintech ecosystems.
Known for its commitment to innovation, inclusivity, and reliability, Remita is a major sponsor of the Nigeria Fintech Week (NFW) 2024 where it will be joining other notable local and international fintech brands to champion national inclusive growth.
Read more: https://techeconomy.ng/remita-champions-inclusive-growth-at-nigeria-fintech-week-2024/
Uber-backed Nigerian startup Moove expands to U.S. after raising $100 million
Moove, the African fintech company that finances vehicles for ride-hailing companies, is expanding its operations into the U.S. As per Tech Cabal, the company has listed vacancies for roles in Los Angeles and California since August. Also, the move is part of the company’s effort to improve its profitability.
The company currently operates in six markets—Nigeria, South Africa, Ghana, the U.K., India, and the UAE—and plans to expand to six additional countries by 2025.
Three years ago, Moove announced that it was Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa, with Moove-financed cars having completed more than 850,000 Uber trips covering over 13 million kilometers across the continent.
India launches RuPay card in Maldives; announces consulate in Addu City
New Delhi: In an attempt to foster digital and financial cooperation between the two countries, India on Monday launched the RuPay cards in Maldives to enhance the ease of payments for Indian tourists visiting the island nation as well as for Maldivian nationals visiting India.
Both nations have also agreed to work towards establishing a Maldivian Consulate in Bengaluru and an Indian Consulate in Addu City, the joint statement released by India and Maldives stated.
Following the comprehensive bilateral talks between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu, India has agreed to share its expertise in the implementation of digital and financial services and to work in the development of the Digital Public Infrastructure (DPI) through the launch of India’s Unified Payments Interface (UPI), Unique Digital Identity, Gati Shakti Scheme and other digital services to enhance e-governance and delivery of services through the digital domain for the people of the Maldives.
GoCardless and Moneybox extend partnership
Moneybox launched in 2016 with GoCardless as its preferred payment method, enabling customers to transfer money into its wide range of savings and investment products. Today, more than 92% of Moneybox’s payment transaction volumes go through GoCardless.
The renewal will see Moneybox continue to rely on GoCardless for Direct Debit in addition to adding Same Day Settlement, a feature will shorten the time it takes for their customers to get funds onto the platform, helping them save, invest, and earn more quickly.
Kaley Addo, Head of Investment Operations at Moneybox, said: “Moneybox has experienced a period of exponential growth in recent years with Assets Under Administration rocketing to more than £7bn and GoCardless has been a valued partner throughout.
Read more: https://www.finextra.com/pressarticle/102619/gocardless-and-moneybox-extend-partnership
