Neem raises $2.5m in seed money to help Pakistan underbanked

Pakistan fintech Neem has raised $2.5m in seed funding round, furthering its mission of bringing financial wellness to the country’s underbanked communities – both individuals and businesses.  Neem’s ambition is to bring an embedded finance model to Pakistan with a market opportunity of $167bn. Investors include SparkLabs Fintech, leading investment house in Pakistan Arif Habib … Read more

Emirates launches API developer portal

Emirates NBD has launched a ready-to-use financial API developer portal, labelled Emirates NBD API Souq. It hopes to provide fintech, developer and corporate clients with an all-in-one ecosystem to rapidly develop innovative financial solutions. The portal grants developers access to API suit across six categories of account services, payments, collections, real-time notifications, trade services and … Read more

Cledara raises $20m

SaaS monitoring fintech Cledara – based in the UK, Spain and US – has just closed a $20m Series A round. Fintech specialists CommerzVentures led the round, with Carbide Ventures and Massive pitching in. Nauta Capital and Notion Capital, existing investors, also put their hands in their pockets. The money will be used to boost … Read more

Be Mobile targets South African unbanked and underbanked

Be Mobile, a Canadian based neobank, has launched in South Africa and will target its low fee products at the country’s unbanked and underbanked via its app. Like many companies operating on the African continent, Be Mobile is looking to boost financial inclusion via digital innovation. Nearly 25% of the South African population is unbanked … Read more

NowNow raises $13m now now

New Nigerian fintech NowNow has raises $13m in seed funding. It said the money would drive financial inclusion by providing financial services to the unbanked and underbanked in the continent.

Dubai’s DIFC grows

The Dubai International Financial Centre (DIFC), one of the leading global financial centres in the Middle East, Africa and South Asia (MEASA) region, has grown in the first half of 2022. A total of 537 new entities registered during the first half of this year, representing an 11 per cent year-to-date increase. The total number … Read more

Value of contactless payment transactions to jump

The value of contactless payment transactions will reach $10 trillion globally by 2027, up from $4.6 trillion in 2022. What’s more, the investment in the underlying contactless payments ecosystem, such as contactless‑enabled POS (Point-of-Sale) terminals and device-level support, will be the key driver of contactless transactions value growth over the next five years. So says … Read more

UM6P invests in animal free diary products

Moroccan fund UM6P has made an investment in South African outfit De Novo Diary which develops animal free diary products. It produces milk proteins gained from the precision fermentation of yeast strains. This has in the past been difficult to achieve. They can then be used in a number of products to boost human nutrition. … Read more

Morocco named as future fintech star growth area

A new report has named Morocco as one of the key African regions geared for fintech growth. It is amongst one of 11 key markets in Africa picked out by the report entitled Fintech in Africa: The end of the beginning by McKinsey. The others are Cameroon, Côte d’Ivoire, Egypt, Ghana, Kenya, Nigeria, Senegal, South … Read more

Indian public sector banks to help underbanked

Indian public sector banks are to help the underbanked with new branch openings. Gujarat gets 38 new branches, Maharashtra 33, Jharkhand 32 and Utter Pradesh 31. The programme of new branch openings is part of a financial inclusion drive.

Telda issues MC card for Egyptian underbanked

The Telda prepaid card is now available to underbanked Egyptians. The Mastercard scheme card is a collaboration between Egyptian fintech startup Telda and the county’s financial institution Banquet du Caire. The card allows Egyptians without a bank account to issue their own Telda card via the fintech’s app. Adam Jones, Country General Manager, MENA Central, … Read more

GXS launches underbanked product

Digital banking challenger GXS has launched in Singapore. It’s first product is a savings product targeted at the underbanked, particularly self-employed entrepreneurs and gig workers. GXS gained its banking licence some two years ago from the Monetary Authority of Singapore (MAS). Grab and Singtel back the company.

Atome Card allows users to control finances in Philippines

The buy now pay later (BNPL) Atome Card has been launched in the Philippines. The card, which allows users to have more control over their finances, is a product of the partnership between Asia United Bank (AUB) and Singapore firms MatchMove and Atome. The deal is being heralded as a first of its kind, bringing … Read more