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Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney – TechCrunch

Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There are five distinct models, and the one adopted by Nubank, the $30 billion behemoth, is the credit-led model. Neobanks operating this model start by offering credit via cards or on an app and subsequently offer bank accounts as a gateway to other services. Nigerian fintech startup FairMoney operates this model. Today, it is announcing a $42 million Series B raise to diversify its offerings and expand to “become the financial hub for its users.” 

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The culture of empowerment at FairMoney leads to creation of right products for financial inclusion

The culture of empowerment at FairMoney leads to creation of right products for financial inclusion
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With over 1 3 million users, Nigerian-based fintech FairMoney wants to replicate growth in India – TechCrunch

There are more than 1.7 billion underbanked people globally, the majority of which are from emerging markets. For them, accessing loans can be difficult, which is a problem fintechs try to solve. One way they do this is by promoting financial inclusion by underwriting credit via a proprietary algorithm. One such company is FairMoney, which […]

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