The 15M Series Venture is an initiative from APIS Sub Saharan Africa to fund 15 projects that will improve the lives of people in South Africa and the sub Saharan region. These projects range from small water pumps and solar lights to new schools and health centers. Each project will be overseen by a team of experts who have extensive experience working in Africa.
Pngme
Pngme is a San Francisco-based fintech startup that provides a data infrastructure for financial institutions. Its APIs allow digital banks to collect and aggregate financial data on an automated basis. They also have a client management platform that enables financial institutions to interact directly with customers.
The company specializes in creating a holistic picture of a person’s financial behaviors, while providing actionable data for financial institutions. Pngme says it can provide mission-critical data infrastructure to financial institutions, digital financial platforms and credit agencies.
Pngme has already begun to gain traction with several key stakeholders. These include tier-one African banks, credit bureaus, and fintech startups. Currently, Pngme is looking to add new members to its engineering and sales teams. In addition, it plans to expand its third-party data connections and increase its Insight Library.
This latest funding round will support Pngme’s ongoing efforts to grow its staff strength and expand its customer base. It will also be used to strengthen the executive simasvip team.
Pezesha
Pezesha, a Nairobi based fintech, has snagged the award for the largest fintech unicorn of the year with a jaw dropping $15 million. MooveBeta, a fintech startup whose products include fintech, analytics, and mobile payment solutions, rounded out the triumvirate. Other notable participants include Bamba, a fintech startup that offers mobile and mPOS solutions to small and medium sized enterprises (SMEs) in Kenya, and Xelix, a fintech startup with a no frills model and a higher ed approach to customer service. To snag one of the coveted slots, applicants were vying for a ticket to the aforementioned FMO Ventures Program. The winners, including Xelix, have been selected to compete in a three-city tour. After a rigorous screening process, the lucky few will take home the grand prize and a chance at life in the big apple.
Stitch
Stitch is a South African-based API fintech company. It is developing a “financial graph” for Africa that will allow businesses to scale faster and more efficiently. It also will lpllive help connect bank accounts and wallets across continents.
Stitch’s data infrastructure enables seamless transactions. In addition, it slashes the time and effort it takes to implement applications and provide developer tools. The company also plans to launch new product offerings in the near future.
Stitch’s API provides an easy way for developers to connect to financial accounts and perform fraud checks. It streamlines identity checks and streamlines bank-to-bank transfers.
Stitch offers financial management solutions for e-commerce companies and fast-growing businesses. It facilitates online payments and e-commerce checkouts. Currently, it serves a handful of clients.
Stitch’s API also allows developers to link their apps with financial accounts, verify identities, and initiate payments. It also aims to help acquire merchants and applications.
Stitch has raised $27 million to date. This will be used to build out its team and infrastructure. They aim to start operations in South Africa, Nigeria, and other countries in the future.
OPay
The second African unicorn has emerged in the form of fintech firm OPay. The company has been growing rapidly over the past year. They started with e-commerce services, but have expanded into mobility and logistics services. OPay has also acquired an international money transfer license. As of last December, they processed over $2 billion in transaction volumes.
OPay is an independent payments processor in Sub-Saharan Africa, which provides digital solutions to everyday life. Their product is used by both underbanked and unbanked users in Nigeria to send and receive money. This has allowed them to process over 80% of mobile money transfers in the country. It is also one of the few tech firms in the region that have an exclusive presence in Nigeria. With the new funding, they are looking to expand their customer base and to add staff strength.
Another fintech firm, Pngme, recently raised $15 million in Series A financing. Pngme is based in San Francisco and is an Africa-focused fintech firm. While they offer a wide range of financial products, their primary focus is on supplying affordable working capital to small and medium-sized enterprises in Sub-Saharan Africa.
