Industry: fintech
Sentiment: Positive
Total Articles: 3
Last Article: 2025-06-05 08:52:35+00:00
PalmPay, an African digital bank fintech, is negotiating a Series B round of $50-100 million. The company, now profitable, plans to use the funds to expand in Nigeria, scale its business offering, and enter new markets in Africa and Asia.
The African startup ecosystem experienced mixed results in 2024, with funding returning to pre-pandemic levels but facing challenges due to global VC tightening. While some well-funded startups closed down, others pivoted or thrived, highlighting the dual realities of challenges and resilient adaptations in the post-boom tech landscape.
Gozem, a super app offering ride-hailing, commerce, vehicle financing, and digital banking in West Africa, has raised $30 million in Series B funding. The company plans to use the funds to bolster its vehicle financing service and expand into new markets across Francophone Africa.