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FairMoney, a digital bank based in Lagos and headquartered in Paris, is in discussions to acquire Umba, a credit-led digital bank providing payroll and financial services to customers in Nigeria and Kenya, in a $20 million all-stock deal, sources tell TechCrunch. But it also underscores the challenges facing fintechs in Africa amid a challenging market for startups globally: a $20 million all-share deal would be roughly equivalent to the amount Umba raised from outside investors. ....
Nigerian digital bank FairMoney set to acquire Umba in a $20 million all-stock deal techmoran.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techmoran.com Daily Mail and Mail on Sunday newspapers.
BharatPe Group appoints Rohan Khara as chief product officer. Khara will lead product development and innovation, design merchant and consumer products, and head user research teams. He was previously managing director at FairMoney India. Khara has experience building financial services products across fintech startups in India, Indonesia, and Nigeria. ....
In the past 7 years, a good number of lending platforms have sprung up in Nigeria. Rightly so, as access to financial inclusion is still a major bane for many Nigerians. Access to credit to cover personal and business costs still remains a huge equaliser in the growth and development of the economy. ....