Nigeria

Nigerian B2B Payments Startup Duplo Raises $1.3M
Nigerian B2B Payments Startup Duplo Raises $1.3M
February 15, 2022  |  Investments

Duplo, a Nigeria B2B payment digitization startup, has raised $1.3 million in pre-seed funding, and announced it will take part in accelerator Y Combinator’s winter...

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Transtura Acquires FinTech Startup WazoMoney
Transtura Acquires FinTech Startup WazoMoney
February 07, 2022  |  Acquisitions

Nigerian ride-hailing and shared mobility startup Transtura on Monday (Feb. 7) finalized the acquisition of FinTech payments startup WazoMoney as part of a plan to...

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One Payment Gets Central Bank of Nigeria License
One Payment Gets Central Bank of Nigeria License
February 04, 2022  |  Digital Payments

The Central Bank of Nigeria on Friday (Feb. 4) granted digital payments platform One Payment Limited a license that will allow the company to offer certain...

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Nigerian FinTech Brokerage App Bamboo Notches $15M Series A
Nigerian FinTech Brokerage App Bamboo Notches $15M Series A
January 31, 2022  |  Investments

Brokerage app Bamboo raised $15 million in a Series A funding round that the Nigerian startup will use to escalate its growth while entering new...

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Nigerian Mobility Tech Startup Metro Africa Xpress Nets $31M for Expansion
Nigerian Mobility Tech Startup Metro Africa Xpress Nets $31M for Expansion
December 22, 2021  |  Investments

Metro Africa Express (MAX), a Nigerian mobility tech startup, has raised $31 million in a Series B funding round and is looking to enter more...

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Cash Still King in Nigeria Despite Digital Drive
Cash Still King in Nigeria Despite Digital Drive
December 06, 2021  |  Cash

Despite the drive for digital payments in Nigeria, cash is still king, with circulation hitting record numbers in October against a backdrop of officials pushing...

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Central Bank Gives Nod to Mobile Money Licenses; Airtel Fast-Tracks Plans to IPO Mobile Money Unit
Central Bank Gives Nod to Mobile Money Licenses; Airtel Fast-Tracks Plans to IPO Mobile Money...
November 30, 2021  |  Mobile Wallets

The long-anticipated wait is over. Until November, Nigeria did not operate a telecommunications (telco) company-led mobile money model, opting instead for a bank-led model that...

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Payments App KurePay to Suspend Services in Nigeria Next Year Amid Crypto Crackdown
Payments App KurePay to Suspend Services in Nigeria Next Year Amid Crypto Crackdown
November 24, 2021  |  Cryptocurrency

KurePay, the Nigerian payments app, is reported to be suspending its services in the country over crypto exchange crackdowns, a report says. KurePay, according to...

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Nigeria’s Digital Currency Rollout Highlights Security, Privacy Concerns
Nigeria’s Digital Currency Rollout Highlights Security, Privacy Concerns
November 07, 2021  |  CBDC

Trust is paramount to any payments mechanism, be it hard currency, stablecoin or a central bank digital currency (CBDC). Ecosystems can take shape only when...

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