E-Banking Startups in Africa

Overview Powered by AI

E-banking's gaining steam. Umba's success has sparked interest, but it's a crowded market with intense competition from incumbents. The challenge is scaling beyond early adopters to reach the mass market. Local business leaders see it as a potential game-changer but emphasize the need for robust infrastructure, financial literacy, and reliable internet access for widespread adoption.

Cummulative Funding

$22.3M+

Total # of Companies

2

Total Deal Count

7

Total M&A Count

0

Total # of Investors

21

List of E-Banking startups in Africa

Add Startup

Filter List

Example: Flutterwave, Paystack, etc

Startup	Overview	Last round	Total raised	Founded
1. Umba Nigeria Umba is an Africa-focused digital bank, offering free bank accounts and financial services to customers. Umba Nigeria	Umba is an Africa-focused digital bank, offering free bank accounts and financial services to customers.	Debt Financing	$ 22,300,000	2018
2. Aibanc Nigeria Aibanc offers AI-powered banking for High Earners Not Rich Yet (HENRY). Aibanc Nigeria	Aibanc offers AI-powered banking for High Earners Not Rich Yet (HENRY).	Undisclosed	Undisclosed	2021

Umba

Founded

2018

Overview

Umba is an Africa-focused digital bank, offering free bank accounts and financial services to customers.

Last round

Debt Financing

Total raised

$ 22,300,000

Employee

11-50

Aibanc