Low-cost artificial ‘muscles’ developed for safer, softer robots

Stand aside Arnold Schwarzenegger, a new kid is in town ready to flex his muscles. Engineers have developed a low-cost artificial actuator that moves by expanding and contracting just like a human muscle. The breakthrough from a team at Northwestern University means that low-cost, simplified soft actuators enable worm-like crawling and bicep-like lifting. The researchers … Read more

BaaS on the rise

A new study projects a substantial rise in global revenue generated by Banking-as-a-Service(BaaS) platforms. The report, from Juniper Research, anticipates a 158% growth in revenue stemming from account/card issuing and transaction fees, catapulting figures from $36.4 billion in the current year to an estimated $94 billion by 2028. This surge is primarily attributed to the … Read more

FM61 boosts Morocco’s startup ecosystem

In a move to boost Morocco’s startup ecosystem, the Mohammed VI Investment Fund (FM6I) has unveiled plans to establish dedicated “startup funds” in collaboration with key governmental and financial institutions. Announced in Rabat, it signals a pivotal moment in the nation’s efforts to foster a vibrant startup culture with global impact. Teaming up with the … Read more

Global fintech funding almost halves

The total capital invested into fintech globally has almost halved. It reached $51.2bn in 2023, a decrease of 48% compared to 2022, when total investment amounted to $99 billion. The 2023 spend was spread across 3,973 deals compared to 6,397 deals in 2022. The US received the most investment in 2023, bringing in over $24bn … Read more

SmartProf raises seed

Online tutoring marketplace for school-aged students SmartProf has raised USD110,000 in a seed-round backed by Plug and Play, UM6P Ventures and some angel investors.

WafR raises dosh

Moroccan retail-tech startup WafR has raised USD120,000 from First Circle Capital, a previous investor. This latest round comes on top of an earlier seed round which raised USD1.075m. It is now valued at USD10.12m. WafR will use the new money to expand its network of grocers. Founded in 2021, it helps retail brands to deliver … Read more

African Development Bank backs First City Monument Bank

The African Development Bank has backed First City Monument Bank (FCMB) to the tune of $50m. The line of credit has been created support access to finance for small and medium-sized and women-owned businesses. FCMB will use the credit to expand lending activities to boost the country’s post-pandemic economic recovery and drive more inclusive and … Read more

Boost Mobile boosts underbanked

US Boost Mobile is launching a new money service aimed at underbanked customers. The prepaid mobile service provider’s OmniMoney product means users can secure payments, make withdrawals, transfer money and send remittances. VISA is the scheme provider, offering a virtual and physical card. Store cash deposits are available at various locations. “We’re looking to provide … Read more

Microfinance boost for Indian women

Private sector lender Induslnd has expanded its microfinance lending to women borrowers in the rural Indian communities of Jharkhand, Uttar, Pradesh and Bihar following a US$150m from the United States International Development Finance Corporation.

New app for Philippines underbanked

A new app has been launched by the Agribusiness Rural Bank to serve the underbanked communities of Philippines. The app was developed by digital banking software provider Geniusto. The app means Agribusiness can publish new services and products in real time.

GafaPay teams up with SaveChain

👉 GafaPay and SaveChain have teamed up to help millions of Africans access to a US bank account, international money transfers and mobile payments. 👉 GafaPay provides a mobile wallet with over 300,000 users in Sub-Saharan Africa. 👉 SaveChain is a global neobank for unbanked people which allows anyone to open a US bank account. 👉 … Read more

US Dexy launch

Hybrid banking app Dexy is about to launch in the US. It aims to help underbanked customers in emerging markets. It provides access to US dollars and cryptocurrencies. And it will enables SWIFT transfers to over 150 countries and the storage of stablecoin USDC and cryptocurrencies Bitcoin and Ethereum.

Israel comes out on top

Israel comes first in the 2022 Digital Quality of Life Index. This study focusses on the quality of digital wellbeing across 117 countries (92% of the global population). The study indexes each country according to five pillars that impact a population’s overall digital quality of life. Top ten are: Israel Demark Germany France Sweden The … Read more