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…

Alpaca nabs $6M for stocks API so anyone can build a Robinhood

Alpaca nabs $6M for stocks API so anyone can build a Robinhood

Stock trading app Robinhood is valued at $7.6 billion, but it only operates in the US. Freshly-funded fintech startup Alpaca does the dirty work so developers worldwide can launch their own competitors to that investing unicorn. Like the Stripe of stocks, Alpaca’s API handles the banking, security, and regulatory complexity, Read more…

walmart money card

Walmart and Green Dot to jointly establish a new fintech accelerator, Tailfin Labs

Walmart announced today an expansion of its existing relationship with financial services provider Green Dot, which will continue to serve as the issuing bank and program manager for the Walmart MoneyCard program for another seven years. The two companies also agreed to partner on the creation of a new fintech Read more…

Bnext raises $25 million for its mobile banking alternative

Bnext raises $25 million for its mobile banking alternative

Fintech startup Bnext has raised a $25 million funding round. The Spanish company is building a banking product and has managed to attract 300,000 active users. DN Capital, Redalpine and Speedinvest are leading today’s funding round. Existing investors Founders Future and Cometa are also participating. Other investors include Enern, USM Read more…

Summer ForgivenessFinder

Summer wants to vanquish student loans for borrowers, and now has $10M to do it

$1.5 trillion. That’s the amount of outstanding student loan debt held by American citizens according to the New York Fed. It is an astronomical sum, and has led to much hand-wringing about whether there is a coming bubble in U.S. higher education. What’s even worse than the scale of the Read more…

paymongo founders

Manila-based payments processing startup PayMongo raises $2.7 million in seed funding

Manila-based financial tech startup PayMongo has raised $2.7 million in seed funding to give merchants in the Philippines and other Southeast Asian markets simple ways to set up online payments. Investors included Founders Fund, Peter Thiel and Stripe, with participation from Y Combinator (PayMongo is the first Philippine fintech company Read more…

FairMoney raises $11 million for its challenger bank for emerging markets

FairMoney raises $11 million for its challenger bank for emerging markets

Fintech startup FairMoney is building a challenger bank in Nigeria. The company first started offering microcredit and now plans to expand to current accounts and savings. FairMoney just raised an $11 million Series A round (€10 million) led by Flourish, DST Global partners and existing partners Newfund, Speedinvest and Le Read more…