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Modus, a venture platform operating in the Middle East and North Africa (MENA), has announced the launch of Modus Africa – a $75 million SDG-focused VC fund that will invest in Africa’s boldest startups powered by AI and blockchain technologies.
The new fund will close in Q1 2023 and will invest in

M-KOPA, a leading emerging market fintech, announced that it has surpassed 5 million customers across Kenya, Uganda, Nigeria, Ghana and South Africa.
Two million of these customers have come onboard in the past 15 months.
M-KOPA’s innovative model makes affordable smartphones embedded with

Zazuu, a London fintech focused on African remittance, has shut down after raising over $2 million due to insufficient funding, despite exploring all options.

TymeBank, a South African fintech, has expanded its customer base by 7%, reaching 10.7 million after a $250 million funding round valued at $1.5 billion. The bank's total deposits near R7 billion, and it plans to grow in Vietnam.

Egyptian fintech and a leading payment orchestration platform in Middle East and North Africa (MENA), MoneyHash, has secured $5.2 million in pre-A funding.
The round was led by Flourish Ventures – a global fintech investor behind industry leaders like Chime, Flutterwave, FairMoney, and Neon –

Klasha, a Nigerian fintech, has secured an additional $2 million in funding, raising its total to $6.5 million. This investment will enhance cross-border B2B payment services between Asia and Africa, enabling seamless transactions with new operations in China and a Money Service Business license for the U.S.

Nala, a pan-African remittances company, raised $40 million in a Series A funding round to enhance infrastructure and expand globally. This funding will support Nala's payment solutions and the launch of its B2B platform, Rafiki, aiming for reliable, low-cost payments.

La startup fintech marroquí PayTic obtuvo $4 millones en financiamiento de extensión de semilla para mejorar su plataforma de operaciones de pago y expandirse globalmente. Fundada en 2020, su objetivo es optimizar las operaciones bancarias para las instituciones financieras.