San Diego-based Founders First Capital Partners gets $100 million for revenue-based fund

San Diego-based Founders First Capital Partners gets $100 million for revenue-based fund

Founders First Capital Partners, an accelerator and investment firm which provides revenue-based financing to businesses led by “underrepresented entrepreneurs” operating in underserved markets, has received a $100 million commitment to expand its operations. The San Diego-based investor raised the debt financing from Community Investment Management, a large debt-focused impact investment Read more…

Elavon to acquire Sage Pay, a gateway that competes with Stripe, PayPal and Adyen, for $300M

Elavon to acquire Sage Pay, a gateway that competes with Stripe, PayPal and Adyen, for $300M

E-commerce continues to gain momentum — a trend we’ll see played out in the next two months of holiday shopping — and with that comes more consolidation. Today, Elavon, the payments company that is a subsidiary of US Bancorp, announced that it will acquire Sage Pay, one of the bigger Read more…

Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to Kenya, Ghana and South Africa — Opera’s CFO Read more…

Google to offer checking accounts in partnership with banks starting next year

Google to offer checking accounts in partnership with banks starting next year

Google is the latest big tech company to make a move into banking and personal financial services: The company is gearing up to offer checking accounts to consumers, as first reported by the Wall Street Journal, starting as early as next year. Google is calling the projected “Cache,” and it’ll Read more…

PalmPay launches in Nigeria on $40M round led by China’s Transsion

PalmPay launches in Nigeria on $40M round led by China’s Transsion

Africa focused payment startup PalmPay has launched in Nigeria after raising a $40 million seed-round led by Chinese mobile-phone maker Transsion. The investment came via Transsion’s Tecno subsidiary, with participation from China’s NetEase and Taiwanese wireless comms hardware firm Mediatek — a Transsion spokesperson confirmed to TechCrunch. PalmPay had piloted Read more…

Chaka opens up global investing to Africa’s most populous nation

Chaka opens up global investing to Africa’s most populous nation

Fintech startup Chaka aims to open up online investingd to Africa’s most populous nation, Nigeria. The seed-stage company recently went live with its mobile-based platform that offers Nigerians stock trading in over 40 countries. Chaka positions itself as a passport to local and global investing. The startup has created an Read more…

Pan-African e-tailer Jumia grows 3Q revenue, e-payments, and losses

Pan-African e-tailer Jumia grows 3Q revenue, e-payments, and losses

Pan-African e-commerce startup Jumia released its third-quarter financial results today. The numbers and presentation reflected some of the same past trends, with a dash of new, and nary a mention of a declining share-price. The results Jumia — with online goods and service verticals in 14 countries — posted third-quarter Read more…

Nigeria’s Interswitch confirms $1B valuation after Visa investment

Nigeria’s Interswitch confirms $1B valuation after Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the most valuable African fintech businesses with a valuation of $1 billion,” Interswitch said in a release to TechCrunch. The Visa investment Read more…

Every startup is a bank–or wants to be

Every startup is a bank–or wants to be

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week we did something just a little bit new. Kate was in studio at TechCrunch’s SF HQ. Alex was in his dork cave in Providence. And we had a guest in the Read more…

Libra’s critics are missing the forest for the trees

Libra’s critics are missing the forest for the trees

But Facebook is probably not the right actor to spearhead this initiative Nik Milanovic Contributor Nik Milanovic is a fintech and financial inclusion enthusiast, with a decade of work across mobile payments, online lending, credit and microfinance. More posts by this contributor What money should be The Third Age of Read more…