Migo, the credit startup formerly known as Mines, has raised $20m in a Series B round which will now see it expand to Brazil. The company’s move into the south American country is motivated by similarities in market opportunity with Nigeria, says Adia Sowho, Migo’s vice president for Growth, in a call with TechCabal. Brazil’s […]
Jumia has shut down its e-commerce business in Tanzania. Users in the country will no longer be able to buy and sell goods from the retailer’s website, Jumia.tz. In a statement to TechCabal, Jumia said its Tanzanian exit is “part of ongoing portfolio optimization efforts.” “While Tanzania has strong potential and we’re proud of the […]
Digital banks talk a big game about solving problems with traditional banks. Why aren’t more people using them?
The Chinese backed startup OPay is continuing its move to become a super app with the launch of OCar, its ride-hailing service in Lagos, Owerri, Port Harcourt, Abuja and Benin. OCar is the company’s latest vertical in an ecosystem that already includes offerings for food (OFood), bike-hailing (ORide), classifieds (OList), three-wheelers (OTrike) and bus-hailing (OBus). […]
In the three months between July and September 2019, OKash provided approximately 5 million loans valued at $250 million in Kenya, India and Nigeria. During the same period, the quick loans platform tripled its revenue to $39.9 million.
The Nigeria-based fintech company OPay has raised $120 million Series B funding from a group of Chinese investors.