Pngme, a financial data platform, closes $3M seed to accelerate growth in Sub-Saharan Africa
Since M-Pesa’s mobile money infrastructure came into play in 2007, there has been a proliferation of fintech services ranging from wallets to savings and loans. With this mobile money ecosystem growing in double-digits year-on-year, a lot of data is being created in the process. But this has left some fragmentation, where one person’s information is diverse and can be accessed via multiple channels.
For banks and financial institutions, it becomes difficult to understand and provide insights from users’ data. Over the past three years, some platforms have looked to solve this problem. They aggregate users’ financial data and share it with these financial players through APIs driving more data-driven insights and value-added products. One such platform is Pngme.
Nigeria-based Mono gets backing from Y Combinator Wednesday 3 February 2021 13:28 CET | News Nigeria-based Mono, a startup that helps fintech companies to run onboarding processes through KYC in general, gets backing from Y Combinator.
It will join 39 other African startups already in the accelerator’s portfolio. Mono currently has a USD 500,000 pre-seed backing from VCs like Lateral Capital, Ventures Platform, Golden Palm Investments, Rally Cap, and some angel investors. By getting into Y Combinator, the startup will have access to USD 125,000 seed fund and other investment opportunities following graduation in March 2021.
Mono founders plan to use this opportunity to validate the product’s credibility while also positioning the startup for global recognition. This is important as the African market is still riddled with distrust especially when it comes to putting account details online.
Kountable Secures Funding in Series A-1 Led by Lateral Capital to Launch U.S. Membership and Scale COVID Response
Share Article
The global trade and technology platform expands to the U.S. and widens its pandemic response to further support SMEs
The bold, end to end technology solution offered by Kountable’s team across the US and Africa has the potential to unlock global trade between sophisticated customers large and small. We are fortunate to have the opportunity to support Chris and Kountable for the next chapter of their journey. SAN FRANCISCO (PRWEB) February 02, 2021
Kountable, the leading global trade and technology platform, today announced additional funding in Series A-1 led by Lateral Capital. Additional investors in this round include Bootstrap Labs, Kirk Bradley of Oracle, Position A Partners and Kountable s impact family office investors. The round also provided the initial capitalization of Kou
Mono, a startup that wants to build Plaid for Africa, gets backing from Y Combinator
Prakhar Singh and ex-Paystack employee Abdul Hassan have known each other for seven years, building different tech products individually and collectively along the way.
Before joining Paystack in 2018, Hassan co-founded payments startup OyaPay the year before. After leaving the Stripe-owned company in 2019, he launched a data startup called Voyance where Singh, who had already exited one of his products Transferpay.ng, an offline payments startup was a software engineer.
Last June, the duo started working on Mono, a project that would allow companies to access their customers’ financial accounts in Nigeria.
These are the top 10 rankings of the highest fundraisers for 2020.
Flutterwave
The startup provides digital payments infrastructure and services which enable global merchants, payment service providers, and pan-African banks to accept and process payments across various channels.
It raised a $35M Series-B round led by US venture capital firms Greycroft and eVentures in January 2020. The funding was invested in technology and business development to grow market share in the countries it operates in.
54gene
It raised $15M in a Series A funding
round in April 2020 led by Adjuvant Capital – a life sciences fund backed by the International Finance Corporation, Novartis, and the Bill & Melinda Gates Foundation.