Fintech Farm nabs $7.4M to launch neobanks in Nigeria and other emerging markets

Fintech Farm, a newly launched fintech startup based in the U.K. that creates digital banks in emerging markets, confirmed to TechCrunch today that it has raised $7.4 million in seed funding. The company said it plans to use the investment to launch neobanks in eight countries over the next 24 months. Flyer One Ventures and […]

Ant is changing how consumers borrow money from its app

In December 2020, Beijing laid out a guideline for Ant Group to “rectify” its business after calling off its IPO, which could have been the largest initial public offering in history. In the plan, regulators asked Ant to revamp its credit business, among other changes that would make it subject to the same set of […]

South African payments gateway Ozow raises $48M Series B led by Tencent

According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of them make more than three transactions monthly. Unlike other African countries, South Africa also has a functioning credit system with the prevalent use of credit cards. However, expensive value-added services like credit cards do not […]

Credit-focused company Upgrade raises $280 million at $6 billion valuation

Fintech company Upgrade has raised a Series F round just four months after raising its previous round. Today, the company is announcing $280 million in new funding at a $6 billion pre-money valuation. In August, the company announced its Series E round — $105 million at a $3.325 billion valuation. In other words, the company […]

Aplazo takes in $27M to increase adoption of BNPL in Mexico

Four months after securing a $5.25 million seed round, Mexican buy now, pay later startup Aplazo is back with an even bigger round to expand adoption of the payment plan approach across that country. Angel Peña and Alex Wieland co-founded the company in 2020. Prior to Aplazo, Peña lived in New York and worked at […]

Flexbase unveils construction industry’s first credit card

Flexbase is turning construction financing on its head with a new credit card — the industry’s first, according to the founders — that offers up to 60 days interest-free financing. The company, which develops automated payments tools for contractors and the construction industry, was started by Zaid Rahman and Hadi Solh to target small- and […]

Balancing risk: Modern architecture’s role in the BNPL playbook

Matt Bivons Contributor Share on Twitter Matt Bivons is CEO and co-founder of Canopy Servicing, an API-first platform for personalized and transparent lending. He previously served as VP and GM at GreenSky, and head of growth at Earnest and VaycayHero. Buy now, pay later (BNPL) is an old form of payment that is new again […]