Hi Fintech friends 👋,
Here are the highlights of what happened in African Fintech this week;
Kenya’s $416 Million revenue Fintech became profitable.
Africa’s most funded startup country planned to force large companies to back startups.
Nigeria's latest Unicorn bet 7.39 Million on its London expansion in a UK remittance push.
Kenyan Fintech founder joined Africa’s new wave of founder-investors.
Africa’s most valued Fintech reported £2.27 Million loss in 2024 despite revenue growth.
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💸Fundraise and Exits
💰 Venture Funds
Kenya planned to force large companies to back startups with their CSR funds.
🚀 Partnerships & Product Launches
👔 Leadership Lineup
Pezesha founder joined Africa’s new wave of founder-investors.
📰 News of the Week
M-Kopa became profitable.
The company reported its first-ever profit of $9.2 Million in 2024 as revenue surged 66% to $416 Million. Founded in 2011, the company has raised over $250 Million in funding and built a strong advantage by underwriting small consumer loans, such as smartphones, using alternative data like mobile usage and repayment patterns.
👀 Eye Openers
In March 2025, Verto’s former VP of Growth left to launch Yyenza, a “send now, pay later” remittance startup. Fast-forward seven months, and last week Lemfi, one of Africa’s biggest remittance fintechs, rolled out the same feature to its users. Could “Send Now, Pay Later” (SNPL) be the next big move changing how Africans send money, making remittances faster and more flexible with built-in credit? Share your thoughts, we will publish them in the next newsletter
📑 Read of the week
If you can win in Africa, Watu Credit thinks you can in Latin America. (Techcabal)
📖 Other News, Reads, and Media
Flutterwave UK reported £2.27 Million loss in 2024 despite revenue growth.
🪙 Stablecoin Watch
News;
Raenest entered the US market with new stablecoin and stock investing products.
Insights & Resources;
How it started in 2022
How it is going in 2025
🎥 VIDEO INTERVIEWS/DISCUSSIONS
Interview with Yele Bademosi, Founder and CEO of Onboard. He revealed the untold truth behind losing $3.9 Million overnight in the FTX collapse and how that moment transformed his relationship with money, purpose, and freedom.
🦉 Tweet of the Week
M-KOPA's growth and profitability is impressive and you've gotta give the team their flowers.
But make no mistake, this was built on millions and millions in equity and debt earmarked for climate / PAYGO solar. They've raised ~$600m in funding (debt/equity/grants).
Those…— Stephen Deng (@mrstephendeng) October 8, 2025
Made in Tanzania 🇹🇿 with 💚
