TechCrunch Fintech (formerly The Interchange) welcomes you! This edition covers some of the hottest fintech startups in Africa, the success of Copilot following Mint’s closure, and the increased investment in a specific expense management startup by VCs.
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The main story
Venture funding in Africa’s fintech ecosystem has seen positive developments despite a recent global decline. From Uber’s $100 million investment in Moove to Zone raising $8.5 million for payment infrastructure, and Nala’s pivot leading to a B2B payment platform, Africa’s fintech space is thriving.
Analysis of the week
Mint’s closure opened doors for startups like Copilot, which secured a $6 million Series A funding after significant growth. The shift in the market dynamics post-Mint’s exit has created opportunities for emerging players like Copilot and Monarch Money.
Financial highlights
Coast, with its focus on expense management for real-world businesses, secured $25 million in equity funding amidst 550% revenue growth. Onyx Private pivoted to B2B, nsave raised $4 million in seed funding, and other notable funding rounds took place in the industry.
Other noteworthy headlines
From Bolt and Checkout.com partnering for frictionless commerce to Fetch raising $50 million, Wealthfront delaying IPO plans, and various fintech acquisitions and investments, the industry is buzzing with activity.
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