Neo Banking Startups in Africa

Overview Powered by AI

Neo Banking in West Africa is gaining traction. Players like Cleva and Kyshi simplifying account opening and offering tailored solutions for small businesses. However, local business leaders are cautious due to low financial literacy, trust issues, and concerns about data privacy. Mobile penetration and improved connectivity are key drivers, but lack of regulation and infrastructure challenges remain obstacles.

Cummulative Funding

$1.7M+

Total # of Companies

2

Total Deal Count

4

Total M&A Count

0

Total # of Investors

15

List of Neo Banking startups in Africa

Add Startup
StartupOverviewLast roundTotal raisedFounded
1.

Cleva is a Nigerian USD banking platform for emerging markets, starting with Africa.

Pre-seed

$ 1,500,000

2023

2.

A UK-based Neo-bank for Africans globally. Kyshi is the new way to send and receive money to and from Africa.

Grant

$ 220,000

2020

Cleva

Founded

2023

Overview

Cleva is a Nigerian USD banking platform for emerging markets, starting with Africa.

Last round

Pre-seed

Total raised

$ 1,500,000

Employee

11-50

Kyshi

Founded

2020

Overview

A UK-based Neo-bank for Africans globally. Kyshi is the new way to send and receive money to and from Africa.

Last round

Grant

Total raised

$ 220,000

Employee

11-50

Browse Neo Banking industry stats