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Lupiya, Zambia’s Leading Neobank, Secures $8.25m in Series A Funding

New Investments

Lupiya, Zambia's Leading Neobank, Secures $8.25m in Series A Funding

Zambian fintech Lupiya has raised $8.25 million in a Series A funding round led by Alitheia IDF Fund, with participation from INOKS Capital SA and the German Investment Bank KfW DEG.
 
The company plans to use the funds to enhance its technological infrastructure, expand its range of financial products, and scale its operations to reach more customers.

Lupiya was founded in 2016 with the mission to close the financial inclusion gap in Zambia by providing simple, technology-driven financial solutions to the unbanked and underbanked.
 
The company offers a range of products and services, including mobile banking, online loans, and bill payments.

Lupiya has seen rapid growth in recent years. In 2022, the company processed over $200 million in transactions and grew its customer base by 200%.
 
The company is now one of the leading neobanks in Zambia, with over 1 million customers.

The Series A funding round is a significant milestone for Lupiya and validates its business model.
 
The company’s growth is being driven by the increasing demand for digital financial services in Zambia.
 
According to the World Bank, over 60% of Zambians are still unbanked or underbanked.

The Series A funding round will help Lupiya capitalize on these opportunities and further its mission to close the financial inclusion gap in Zambia.

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Thndr: The Egyptian Fintech Startup Making Investing Accessible and Affordable for Everyone

StartUp Spotlight

Thndr: The Egyptian Fintech Startup Making Investing Accessible and Affordable for Everyone

Technology is transforming the way people invest in Africa.

In the past, investing was often seen as only accessible to the wealthy or sophisticated investor.

However, the rise of tech startups is making it easier and more affordable for Africans to invest in their future.

Tech startups are helping Africans invest in a number of ways.

For example, they are developing mobile apps that make it easy for people to open investment accounts and start investing with just a few taps.

They are also offering low-cost investment products and services tailored to African investors’ needs. 

One such startup is Thndr.

Who is Thndr?

Thndr is an Egyptian fintech startup that was founded in 2020 by a group of visionary entrepreneurs who recognized the immense potential for disruption in Egypt’s financial services industry.

The company’s founders, Ahmad Hammouda and Seif Amr, embarked on a mission to leverage technology and innovation to bridge the gap between traditional banking and the unmet financial needs of millions of Egyptians.

With a mission to democratize access to financial services and redefine the financial landscape, Thndr has rapidly emerged as a trailblazer in the Egyptian fintech ecosystem.

What Does Thndr Do?

Thndr operates as a digital investment platform, providing users easy access to a wide range of financial products and services.

Their comprehensive offering includes:

  • Investment Opportunities: Thndr offers a diverse portfolio of investment options, allowing users to invest in stocks, bonds, mutual funds, and other financial instruments. Their user-friendly interface simplifies the investment process, making it accessible to novice and experienced investors.
  • Savings and Wealth Management: Thndr’s platform empowers users to save and grow their wealth with customizable savings plans and investment strategies. They provide tools and insights to help users make informed financial decisions.
  • Financial Education: Recognizing the importance of financial literacy, Thndr is committed to educating its users. They offer a wealth of resources, including articles, videos, and webinars, to help individuals enhance their financial knowledge.
  • Accessibility: Thndr is designed to be accessible to all Egyptians. They have made significant strides in ensuring their platform is user-friendly, even for those with limited financial experience or access to traditional banking services.

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