Neobanks Startups in Africa
Overview Powered by AI
Neobanks in West Africa are gaining traction but face challenges. Fido, Fintech Farm, Nexta have strong offerings but limited reach. Local business leaders are cautiously optimistic, seeing potential but also concerns over regulation and sustainability.
Cummulative Funding
$110.1M+
Total # of Companies
5
Total Deal Count
13
Total M&A Count
0
Total # of Investors
14
List of Neobanks startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Fido is an Africa-focused credit first neobank for the unbanked | Series B | $ 94,000,000 | 2014 | |
Fintech Farm is a newly launched fintech startup based in the U.K, with a branch in Nigeria, that creates digital banks in emerging markets. | Seed | $ 7,400,000 | 2021 | |
Nexta is an Egypt-based fintech and next-generation banking platform | Seed | $ 5,200,000 | 2021 | |
Aladdin is a Nigerian open digital bank that provides financial services for underserved Africans. | Debt Financing | $ 3,500,000 | 2020 | |
Banking made simple for everyone with Aku | Funding Round | Undisclosed | 2019 |
Founded
2014
Overview
Fido is an Africa-focused credit first neobank for the unbanked
Last round
Series B
Total raised
$ 94,000,000
Employee
51-200
Founded
2021
Overview
Fintech Farm is a newly launched fintech startup based in the U.K, with a branch in Nigeria, that creates digital banks in emerging markets.
Last round
Seed
Total raised
$ 7,400,000
Employee
51-200
Founded
2021
Overview
Nexta is an Egypt-based fintech and next-generation banking platform
Last round
Seed
Total raised
$ 5,200,000
Employee
11-50
Founded
2020
Overview
Aladdin is a Nigerian open digital bank that provides financial services for underserved Africans.
Last round
Debt Financing
Total raised
$ 3,500,000
Employee
51-200
Founded
2019
Overview
Banking made simple for everyone with Aku
Last round
Funding Round
Total raised
$ 0
Employee
11-50