Nigerian remittance startup LemFi acquires UK card issuer pillar to launch credit cards for immigrants
LemFi has acquired Pillar, a London-based credit card issuer, to integrate remittances and credit services. The acquisition allows LemFi to leverage Pillar's FCA license to bypass lengthy regulatory processes.
Egyptian Swypex secures $4 million seed to expand its corporate card platform
Swypex raises $4 million in seed funding to expand its platform's capabilities. Card adoption for personal use has increased in Egypt, but corporate card adoption is declining.
Accel leads $4M investment in Egyptian corporate cards platform Swypex
Over 30 million cards, including prepaid cards, are in circulation in Egypt, with a 14% increase in card usage in the last four years. Swypex, a fintech startup, raised $4 million to expand its business and technical capabilities in offering corporate cards and management tools for businesses.
