Non-sexy industries can appeal to investors too
Reading Time: 2 minutesThe big story
While venture funding in Africa (like everywhere else in the world) has dropped in recent times, this past week was a good one for the region’s fintech ecosystem. TC reporter Tage Kene-Okafor reported on how Uber led a $100 million investment into African mobility fintech Moove as the startup’s valuation hit $750 million. He also wrote about how Zone raised $8.5 million to scale its decentralized payment infrastructure. And Annie Njanja reported on how Tanzanian payments company Nala‘s successful pivot to offer remittance service in 2021 also led to it building a B2B payment platform.
Analysis of the week
Dollars and cents
Non-sexy industries can appeal to investors too. Expense management startup Coast is going after businesses with so-called real-world field personnel and fleets to manage. It claims to have seen 550% revenue growth last year and just attracted another $25 million in equity funding.
Digital bank Onyx Private is pivoting to B2B. The YC-backed startup raised $4.1 million last year with the goal of serving high-earning millennials and Gen Zers. But then last week, it told customers it was terminating bank operations and closing their accounts.
Swiss fintech nsave, which is making banking in Switzerland accessible to people in countries with unstable banking sectors or those facing high inflation, has raised $4 million seed funding.
What else we’re writing
In its wide-ranging antitrust complaint against Apple and its iPhone business, the U.S. Justice Department takes specific aim against Apple’s massive financial business.
Other high-interest headlines
An unexpected pairing: Bolt and Checkout.com team for frictionless commerce
Rewards startup Fetch taps private credit boom, raising $50 million from Morgan Stanley
Wealthfront puts off IPO plans
Affirm Holdings director Keith Rabois sells shares worth over $318K
Cloud banking tech provider nCino acquires DocFox
Marco raises $12 million to support LatAm trade finance
PayPal-Backed NX Technologies raises $24 million to streamline automotive payments
Prizepool receives cease & desist from FDIC for false and misleading statements
DLocal appoints Pedro Arnt as CEO As Sebastián Kanovich steps back
Ryan Zauk has joined OMERS Ventures as a fintech investor
ICYMI: Klarna takes aim at Visa, Mastercard with open banking push
Reference: https://techcrunch.com/2024/03/24/non-sexy-industries-can-appeal-to-investors-too/
Ref: techcrunch
MediaDownloader.net -> Free Online Video Downloader, Download Any Video From YouTube, VK, Vimeo, Twitter, Twitch, Tumblr, Tiktok, Telegram, TED, Streamable, Soundcloud, Snapchat, Share, Rumble, Reddit, PuhuTV, Pinterest, Periscope, Ok.ru, MxTakatak, Mixcloud, Mashable, LinkedIn, Likee, Kwai, Izlesene, Instagram, Imgur, IMDB, Ifunny, Gaana, Flickr, Febspot, Facebook, ESPN, Douyin, Dailymotion, Buzzfeed, BluTV, Blogger, Bitchute, Bilibili, Bandcamp, Akıllı, 9GAG