A Nigerian remittance and payments firm that has provided significant returns for investors, highlighting the fintech sector's potential.
African Startup Funding Remains Concentrated as Four Deals Account for Most of May 2026 Capital
Nala secured a $50 million credit facility in May 2026. LemFi raised $30 million through a Series B extension.
African Startups Raise $135 Million in May 2026 as Equity and Debt Funding Balance Out
37 companies in Africa raised around $135 million in funding in May, marking an increase from April's $110 million. The funding round featured an almost even split between equity ($65 million) and debt financing ($68 million).
The $11 Billion Shift: How Ghana’s Diaspora Is Pivoting To Fintech Apps To Send Money Home
Ghana recorded $6.65 billion in remittance inflows in 2024, with informal channels bringing the total to $11.5 billion. Fintech startups have reduced traditional remittance fees from 7-12% to as low as 1-3%.
Why early-stage VC Microtraction is worried about the African tech ecosystem
Microtraction raises concerns about the declining quality of talent in Nigeria's tech ecosystem. The firm has invested in over 70 startups, refining its criteria for selecting founders.
LemFi Secures $53M to Expand Fintech Services Beyond Africa
LemFi raised $53 million in Series B funding led by Highland Europe. The company processes $1 billion in monthly transactions, with a 30% growth rate in Asia.
