A Nigerian remittance and payments firm that has provided significant returns for investors, highlighting the fintech sector's potential.
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.
Are African innovators doomed to sell airtime?
LemFi announced the launch of multicurrency accounts for users in Nigeria. The startup aims to support freelancers and digital entrepreneurs needing to receive international payments.
