MAX Extends Its Series B3 to $29 Million as US Climate Fintech Nithio Joins
Nithio's investment takes the MAX Series B3 round to $29 million. The Nigerian EV financing firm says it is now profitable in its largest market, Nigeria.
Funding
Kenyan Space Startup Satlyt Raises $8M to Run AI on Satellites
Satlyt, led by founder and CEO Rama Afullo, raised an $8M seed round led by non sibi ventures to run AI apps on satellite computers already in orbit.
Kenya’s fintech reforms promise clarity but could delay investment
Proposed amendments to Kenya's payment system regulations seek to give the Central Bank direct oversight over significant equity investments in payment firms. While the reforms aim to enhance market stability and compliance, required regulatory approvals could lengthen fundraising cycles for growing startups.
Moniepoint UK made $36,284 after taking on MonieWorld customers
Moniepoint UK Limited generated $36,284 in revenue for 2025 following the migration of customers from its diaspora remittance product, MonieWorld. The figure reflects one month of activity as the group reassesses its UK market footprint amidst rising competition and operational expenses.
Cascador and Sterling launch $200m fund to back SME loans
Cascador and Sterling Bank's new $200m credit backstop fund covers part of lenders' losses, so Nigerian SMEs can borrow up to $1m with less collateral.
Airtel Money starts full trading in London at a £5.3bn valuation
Airtel Money priced its London IPO at 196p a share, valuing the African mobile money business at about £5.3bn ($7bn). Full trading opens today after a soft start in conditional dealings.
Five months after running out of capital, Chimoney gets a new owner
Financial technology startup Chimoney has been acquired by CapitalSage Vantage Limited, five months after announcing its closure due to capital depletion. The acquisition revives the cross-border payment platform, settles outstanding obligations, and secures a regulated pathway for international expansion.
Nigerian startup funding fell 97% in September. Here's why
Nigerian startups raised $364 million in August and just $11.3 million in September. One mega-deal explains most of the swing, and the underlying picture is weaker than either month suggests.
Did African startups raise $1.4bn or $2.2bn this year? It depends who is counting
Two credible trackers put Africa's nine-month startup funding $800 million apart. The gap comes down to what each one counts, and both agree on the trend that matters: equity is back, debt is cooling.
👨🏿🚀TechCabal Daily – Moove-ing on
Six years after launching vehicle financing for ride-hailing drivers in Lagos, mobility fintech Moove is exiting the Nigerian market. The company is handing over eligible vehicles valued at ₦35 billion to current operators, ending vehicle payment obligations as it shifts focus toward international markets and autonomous robotaxi fleets.
The Nigerian founders who turned travel frustrations into a fintech
Oluwatomi Ayorinde and Chizaram Ucheaga launched Timon to solve the payment barriers faced by African travellers. By offering multi-currency travel cards, the startup has processed over $47 million across 16 African markets.
Infinite Partners raises $169.3 million to back South African growth businesses
South African private equity firm Infinite Partners has secured R2.8 billion ($169.3 million) for its Core Equity Fund II, exceeding its initial fundraising target. Backed entirely by domestic institutional investors, the fund provides capital to established mid-market enterprises across digital infrastructure, software, and financial services sectors.