New Investments
San Francisco Fintech Elevate Secures $5 Million to Expand Into Africa
“This fresh capital injection allows us to meet the growing needs of a global remote workforce seeking secure and cost-effective banking solutions,” said Elevate CEO Khalid Keenan.
Formerly known as Bloom, Elevate offers FDIC-insured US bank accounts through a partnership with sponsor bank Bangor Savings Bank.
Elevate initially explored local USD accounts but ultimately opted for US-based insured accounts due to the absence of payment receipt fees and enhanced security benefits.
“We prioritize the safety and affordability of our services,” explained Keenan. “Remote workers can choose between an FDIC-insured account for dollar savings or a riskier e-wallet option. We differentiate ourselves from services like Payoneer by eliminating high FX rates and offering FDIC insurance.”
Elevate aims to provide competitive exchange rates similar to Wise and negotiate better terms for remote workers.
Related Articles
Register Now
Empower Africa Times Newsletter
Share :
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
You may also like...
FMO to Back Solarcentury Africa with $80 Million for Southern Africa Solar Expansion
The Dutch Entrepreneurial Development Bank (FMO) is preparing to provide up to $80 million in financing to Solarcentury Africa Limited to expand solar energy projects across Zambia, Namibia, and Botswana, in a move expected to strengthen electricity supply and accelerate the region’s clean energy transition.
Lingawa Secures $1.1M to Revolutionize African Language Learning with Tech-Driven Approach
Lingawa, a Techstars-backed edtech startup, has announced a strategic pivot from academic tutoring to African language learning, reflecting its mission to preserve and promote native languages.
Sanari Capital Invests $4.4 Million in EduLife Group to Fuel Education Expansion Across South Africa
Sanari Capital, a private equity firm focused on African growth companies, announced an R80 million (approximately $4.4 million) follow-on investment in EduLife Group, a network of independent schools in South Africa.