Mobile Banking Startups in Africa

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Mobile banking adoption is growing rapidly in Southern Africa, driven by factors such as low smartphone penetration and financial inclusion. Djamo and other players have made significant inroads, offering services ranging from mobile money transfer to micro-loans. Local business leaders are optimistic about the potential for mobile banking to transform the financial landscape, but challenges like network connectivity and regulation need to be addressed for sustained growth.

Cummulative Funding

$14.1M+

Total # of Companies

3

Total Deal Count

4

Total M&A Count

0

Total # of Investors

9

List of Mobile Banking startups in Africa

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StartupOverviewLast roundTotal raisedFounded
1.

Djamo is a challenger bank for consumers in French-speaking Africa.

Venture

$ 14,125,000

2019

2.

Finplus Group is a technology company building a new credit & commerce infrastructure for emerging markets.

Non-equity Assistance

Undisclosed

2017

3.

VERICASH is One Platform to drive Digital Transformation and Financial Inclusion in emerging markets

Undisclosed

Undisclosed

2011

Djamo

Founded

2019

Overview

Djamo is a challenger bank for consumers in French-speaking Africa.

Last round

Venture

Total raised

$ 14,125,000

Employee

11-50

Finplus

Founded

2017

Overview

Finplus Group is a technology company building a new credit & commerce infrastructure for emerging markets.

Last round

Non-equity Assistance

Total raised

$ 0

Employee

2-10

Founded

2011

Overview

VERICASH is One Platform to drive Digital Transformation and Financial Inclusion in emerging markets

Last round

Undisclosed

Total raised

$ 0

Employee

201-500

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