Industry: fintech
Sentiment: Positive
Total Articles: 6
Last Article: 2025-08-29 15:04:10+00:00
RightCard Payment Service Limited (LemFi) has received approval from the State Bank of Pakistan to operate remittance services into Pakistan. This partnership with strategic partners like United Bank Limited will allow LemFi to provide enhanced, secure, and low-cost money transfer services for Pakistanis living abroad.
Munify, a cross-border neobank founded by Khalid Ashmawy, aims to provide faster and cheaper money transfers for Egyptians abroad. The Y Combinator-backed startup has raised $3 million in seed funding and offers both consumer and business services for remittances and US banking access.
Borderless, a UK-based startup founded by Joe Kinvi, enables African diaspora communities to collectively invest in startups and real estate in their home countries. The platform has processed over $500,000 in transactions since its beta launch last year, providing infrastructure for cross-border payments and secure capital deployment.
Nigerian fintech Moniepoint is expanding into diaspora-focused financial services with the launch of MonieWorld, starting with UK-Nigeria remittances. The company aims to build a comprehensive immigrant banking platform, going beyond just remittances to offer services like credit building.
African startups raised $460m in Q1 2025, a 5% decrease from Q1 2024. The Big Four countries (Kenya, Nigeria, South Africa, and Egypt) received 83% of the funding, with fintech dominating at 46% of total investments.
Lagos-based fintech Raenest has raised $11 million in Series A funding to expand its cross-border payment solutions across Africa. The company offers virtual USD, GBP, and EUR accounts for freelancers and businesses to receive international payments and manage multi-currency wallets.