Africa’s Fintech Takes Centre Stage At Africa Tech Summit London, Here Are Startups To Know

Last year saw increased investment by local and
international investors in African Fintech ventures with a total of $284.6
million invested in 2018,
making Fintech the most invested sector.

Levelling the playing field for the unbanked and financially underserved
in Africa has created opportunities for new ventures to disrupt traditional
banks, through machine learning and mobile technology. Fintech innovation has
moved beyond just having a bank account, disruptive ventures now deliver;
mobile payments, credit, remittances, cryptocurrencies, insurance, and investments,
creating a new world of data.

Here we look at some of the leading fintech
services from across the continent who will be speaking at Africa Tech Summit London, on June 11^th
during London Tech Week.

Branch International leverages
machine learning and mobile technology to assess credit based on a range of
smartphone data including GPS data, call logs, contact lists and payments to
make personal loans. Branch recently raised $170 Million Series C funding
round, the largest ever raised by an African focused venture.

JUMO partners with banks, MNOs
and other e-commerce players to deliver financial services and has raised over
$90 Million dollars to date. The JUMO platform, enables a customer to access
savings and loan accounts, and configure the loan by amount, term and payment
method.

Flutterwave is focused on
helping banks and businesses provide seamless and secure payments and has
quickly become a leading player in online payments by processing 60 million
transactions worth over $2 billion.  Flutterwave
recently completed a Series A Extension round of financing, taking its total funding
raised to date to more than US$20 million to date.

Yoco is an African technology
company that builds tools and services to help small businesses get paid, run
their business better, and grow. Yoco simplifies commerce for SMBs by providing
access to card payment acceptance, point-of-sale software and capital and have
raised $23 million in funding to date.

BitPesa is a digital
foreign exchange and payment platform that leverages blockchain settlement to
significantly lower the cost and increase the speed of business payments to and
from frontier markets. BitPesa is a market-maker in every major African
currency and was the first blockchain company to be licensed by the UK’s
Financial Conduct Authority and has raised $15 million in funding.

OneFi is a Nigerian digital
financial services platform giving users access to credit, simple payments
solutions, high-yield investment opportunities and easy-to-use tools for
personal financial management. OneFi has raised $13.8 Million to date and their
Carbon app is the largest fully automated smartphone lender in West Africa with
over 1,000,000 apps downloaded and disbursing just under 2,000 loans per day in
Nigeria.

Lidya is a platform
for small & medium business lending in emerging markets, targeting
businesses who are looking for $500 USD to $50,000 in working capital. Lidya
uses close to 100 data points to evaluate businesses, build a credit score
unique to each business, and disburse loans in 24 hours or less and has raised
$8.2Million dollars.

“African tech takes centre stage in London,
and we are delighted to announce that invited African guests will join Africa Tech Summit London to launch trading at London
Stock Exchange on the morning of the London Summit” shared Andrew Fassnidge,
Founder of Africa Tech Summit.

Speaking at the
event this year, Manji Cheto, Business Development Manager, Africa – Primary
Markets, London Stock Exchange, comments: “We are delighted to support the
Africa Tech Summit in London next month. London is home to a fast-growing
community of tech firms from across the world choosing our markets to help
finance their future development and we are committed to helping companies
realise their potential. London Stock Exchange Group also has a long history of
supporting the development of African capital markets and international
investment in African companies. This includes Our Companies to Inspire Africa
report, which showcases inspirational and entrepreneurial businesses from a
wide variety of countries and industries, including technology, and celebrates
the success stories behind one of the world’s fastest growing markets.”

Africa Tech Summit London 2019 takes place on June 11th at the Leonard Hotel, St Pauls, during London Tech Week and will drive interaction and a future line of sight on Digital Trends: Fintech; Blockchain; Payments and Credit; Mobility; Investing; Mobile and start-ups.

Here’s a preview video to check out.

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