Browsing: South Africa’s fintech industry

Amid Africa’s digital transformation, several sectors have pioneered and dominated this move. The continent’s digital money adoption has become one of its most highlighted features since 2002. From Mpesa to Luno and Flutterwave, the era of new payment services has overhauled the continent’s progress. In recent developments, Stitch fintech, a South African payment service, secures $25 million Series A extension funding led by Ribbit Capital.…

• The South African payment platform has raised $5.2 million in seed funding.
• Revio fintech has focused its efforts on providing real-time action via different channels like SMS, Email, or Social media.
• With the $5.2 million, Revio fintech intends to expand its services to over 25 African markets.

Africa’s fintech industry is among the fastest and youngest franchises that emerged in the past decade. Its lucrative market has attracted numerous investors and innovators, each trying to gain a piece of this trillion-dollar market. In the latest development, the South African Payment platform, Revio fintech, secured a $5.2 million seed funding from QED Investors and Partech Africa. With this funding, SA’s road to dominate Africa’s digital industry is shaping up quite nicely.

Africa’s fintech industry is one of the most recent economic activities, barely two decades old. Blockchain technology, one of the primary highlights of the 4IR, has redefined how we approach …