Payday (Techstars ’21), one of Africa’s leading Pan-African neobank, has raised $3 million in seed funding to drive the future of work for the continent.
The funding round was led by led by TeamApt Inc. (now Moniepoint Inc) Inc, with participation from HoaQ, DFS Lab’s Stellar Africa Fund, Ingressive Capital Fund II and angel investors – Dare Okoudjou, Founder and CEO of MFS Africa and ‘Tola Onayemi of Norabase. The investment brings Payday’s total investment to $5.1m, following a $2m+ pre-seed round in 2021. Founded in 2021, Payday is a fintech startup helping Africans send and receive money globally.
TerraPay, a digital payments platform focused on Africa, has announced a $95 million debt financing round to accelerate low-cost remittance transactions across the continent.
Waza, a Nigerian fintech startup specializing in B2B payments and liquidity solutions for emerging markets, has raised $8 million in a combination of equity and debt financing.
OBM Education, an Egyptian educational technology startup, has announced a substantial six-figure funding round to expand its presence in Saudi Arabia.
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