Insights from Happenings in the Fintech Landscape - 110621

Proshare

Tuesday, June 15, 2021 / 12:24 PM / By FintechNGR / Header Image Credit: IT News



Cryptocurrency
In recent times it has become more evident that cryptocurrency is not a sector to be overlooked and beyond retail trading, institutional investors and government are beginning to give it tangible attention, particularly as it relates to payment infrastructure, CBDCs and digital assets.


Nebraska Legislature has recently approved framework for Digital Asset Banks, that if signed by the Governor would create a state charter for crypto banks. Brazil's Central Bank, Banco Central do Brasil has recently released a general guideline for a Brazilian CBDC - which although still at its preliminary stage is intended to bring the discourse to the national level.

 

Riksbank, Sweden's Central Bank, has also announced its enlisting of Handelsbanken and software firm, TietoEvry, for the latest stage of its CBDC, e-krona, pilot. The e-krona project was started in the spring of 2017 as a result of dwindling cash usage in Sweden and this current stage of the project would evaluate the integration between participants' existing systems and the technical platform for the e-krona pilot.

 


Funding Rounds, Valuations & IPOs

On the West African plain, a Cameroon-based digital financial services provider, Maivance, has raised $3M from MFS Africa which would see the latter taking an undisclosed minority stake in the start-up. Maivance hopes to expand its flagship product, Smobilpay, which is connected to GIMAC, the interoperability switch of the Bank of Central African States (BEAC) - the central bank of the Central African region, to Gabon and the Republic of Congo.

 

Still on the African landscape, Chipper Cash, a start-up that facilitates cross-border payments has closed a $100 million Series C round led by SVB Capital - the investment arm of U.S. high-tech commercial bank Silicon Valley Bank, while in Kenya, Kibanda TopUp, a startup digitising the food supply chain for small and medium restaurants in Africa has closed a $460k pre-seed round targeted at increasing its customer base.

 

On the global scene, Lili, a banking app designed for freelancers and gig-economy workers, has raised $55 million in a Series B investment round led by Group 11, Australia-based commission-free brokerage platform, Stake, has scored $30M from Tiger Global and partners of DST Global to fuel its expansion into European market, and, Pine Labs, a start-up offering merchants payments terminals, invoicing tools and working capital, has also recently completed the first close of a $285 million funding which will see the start-up being valued at $3 billion.

 

 

Acquisitions, Partnerships & Expansion

A consortium of private equity groups, including Blackstone and Carlyle, has reached a deal to buy medical supply group Medline for about $34bn, including debt. Analysts have tagged it one of the largest-ever private equity deals, behind the $44bn buyout of US energy group TXU Corporation in 2007.


Credits: Coindesk, TechCabal, Techcrunch, makexpress, Tech Crunch, Finextra

 

Follow us on Social media or join our network to be a member of the ecosystem association firmly positioned as a catalyst for the development of the Nigerian fintech industry.


Kindly share and stay connected with us on our platforms HERE

You can also subscribe to our NEWSLETTER 

 

Proshare Nigeria Pvt. Ltd.

 

 

Proshare Nigeria Pvt. Ltd.

 

 

Related News

1.       FintechNGR's Intercontinental Webinar on CBDC and Cross Border Payment

2.      FintechNGR holds 4th Annual General Meeting, Dishes Out Significant Impacts

3.      Insights from Happenings in the Fintech Landscape - 040621

4.      New Data from EFInA Shows Growth in Financial Inclusion but Suggests More Action Needed

5.      Insights from Happenings in the Fintech Landscape - 280521

6.      How Artificial Intelligence (AI) Will Change Nigerian Banking in 2021

7.      Insights from Happenings in the Fintech Landscape - 210521

8.     Fintech Entrepreneurial Spirit Can Catalyse Economic Recovery and Growth

9.      Fintech Innovation - A look at SEC's Proposed Rules on Robo-Advisory Services

10.  The Effect of Nigeria's Data Protection Regime on Open Banking

11.   FintechNGR Launches Nigeria FinTech Census 2020 Report

12.  Does Fintech Need the Nigerian Financial Markets?

13.  State of Fintech in Emerging Markets - Insights on Trends, Innovations and Fintech Solutions

14.  Nigerian FinTechs Raised $439m in 2020

15.  FintechNGR Inducts 11 New Corporate Members at Social Meet 9.0

16.  Social Meet 9.0 Explores Opportunities for Growing Indigenous Nigerian Fintech Unicorns

17.   Binance Launches Zero-Commission, Tradable Stock Tokens

18.  Islamic Fintechs are Projected to Grow to $128bn by 2025 at 21% CAGR

19.  Nigerian Fintech Ecosystem Responds to Crypto Transaction Ban by the CBN

20. Six Operational and Time-Critical Takeaways from Nigeria's Open Banking Regulations

 


 Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP