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ghtazi

African fintech startup Jumo raises $12.5M more to fund Asia expansion | TechCrunch - 0 views

techcrunch.com/...jumo-raises-12-5m

Tanzania Jumo Loans

shared by ghtazi on 13 Feb 21 - No Cached
  • African fintech startup Jumo has pulled in a fresh $12.5 million to add more fuel for its expansion into Asia Pacific.
  • Jumo specializes in social impact financial products, such as microloans, savings and insurance.
  • It started in Tanzania, and today claims to have originated more than $1 billion in loans.
    • ghtazi
      ghtazi on 13 Feb 21
       
      Jumo started in Tanzania and claims that it has originated more than 1 billion loans. Jumo specializes in financial goods with social effects, such as microloans, deposits, and insurance. it was fonded in 2014
  • hindelquarrouti on 13 Feb 21
     
    After being successful in the African continent, Jumo is now expanding to Asia as it seems being a good fit for a company that is offering microloans.
mehdibella

JUMO reaches 15 million customers across Africa and Asia - JUMO - 0 views

www.jumo.world/...stomers-across-africa-and-asia

Jumo Fintech finance SouthAfrica

shared by mehdibella on 12 Feb 21 - No Cached
  • JUMO reaches 15 million customers across Africa and Asia
  • JUMO has disbursed over USD 1.6 billion in funding and is growing its base of savings products. “By empowering MSMEs, we’re also positively impacting communities, families and employees. Technology is removing barriers to financial inclusion making it possible to responsibly provide everyone with access to good financial choices,” Watkins-Ball added.
  • “We are working to connect every entrepreneur to the financial products they need to grow and prosper,” says Watkins-Ball. “Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”
  • ...4 more annotations...
  • JUMO, a technology company building next-generation financial services for emerging market entrepreneurs, is celebrating connecting over 15 million people to credit and savings in their six markets in Africa and Asia today.
    • mehdibella
      mehdibella on 13 Feb 21
       
      JUMO has partnered with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • Founded in London in 2015, JUMO has partnered with financial service providers and mobile network operators to provide credit and savings solutions in Pakistan, Ghana, Tanzania, Uganda, Kenya and Zambia.
  • Andrew Watkins-Ball, Founder & Group CEO, said this milestone demonstrates JUMO’s unique ability to reach underserved entrepreneurs – over 60% of JUMO’s customers are micro, small and medium-sized enterprises (MSMEs).
  • “We are working to connect every entrepreneur to the financial products they need to grow and prosper,” says Watkins-Ball. “Our technology enables our partner banks and payments companies to help millions of underserved people access financial services.”
  • chaimaa-rachid on 12 Feb 21
     
    JUMO is celebrating interfacing more than 15 million individuals to credit and investment funds in their six business sectors in Africa and Asia today.
  • hindelquarrouti on 13 Feb 21
     
    Jumo are strategically targeting unbanked entrepreneur in order to help them become part of the consumers of the financial product, and consequently develop themselves. It initially targets low-income classes and gives them the opportunity to grow and prosper
kenza_abdelhaq

Intigral partners with Telecom Egypt "WE" and TPAY MOBILE to launch mobile payment for ... - 0 views

www.zawya.com/...e_in_Egypt-ZAWYA20201110092457

TPay Mobile Algeria Partnership

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • Dubai: Intigral, the leading over the top (OTT) content provider in the MENA region, today announces the expansion of its flagship Jawwy TV app and OTT entertainment service into Egypt through a strategic collaboration with the leading telecom operator, Telecom Egypt “WE”. This expansion is being enabled by a strategic partnership with TPAY MOBILE, the Middle East and Africa’s leading digital payments platform.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      Tpay Mobile partnering up with content provider Integral and the telecom operator "WE" as part of a strategic partnership enabling Integral's expansion in the region.
  • kenza_abdelhaq on 12 Feb 21
     
    "Dubai: Intigral, the leading over the top (OTT) content provider in the MENA region, today announces the expansion of its flagship Jawwy TV app and OTT entertainment service into Egypt through a strategic collaboration with the leading telecom operator, Telecom Egypt "WE". This expansion is being enabled by a strategic partnership with TPAY MOBILE, the Middle East and Africa's leading digital payments platform."
kenza_abdelhaq

Where preparation meets opportunity: How TPay Mobile put Egypt on the Fintech map | Ent... - 0 views

enterprise.press/...e-put-egypt-on-the-fintech-map

TPay Mobile Algeria context

shared by kenza_abdelhaq on 12 Feb 21 - No Cached
  • In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014. Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day.
    • kenza_abdelhaq
      kenza_abdelhaq on 12 Feb 21
       
      The introduction of Tpay Mobile was in a context of high mobile adoption and low banking penetration, using telecom operators as a tool allowing payment.
  • kenza_abdelhaq on 12 Feb 21
     
    "In a country with low banking penetration and high mobile adoption, Sahar Salama saw a business opportunity in creating a payment solution through telecom operators. She used her experience at Link Development to create a direct operator billing model and launched TPay Mobile in 2014. Launched in Egypt, Saudi Arabia and the UAE simultaneously, they now operate in over 18 markets across MENA covering almost 51 mn transactions a day."
tahaemsd

HomeSend launches remittance service with Hello Paisa in South Africa - 0 views

newsroom.mastercard.com/...th-hello-paisa-in-south-africa

Fintech Africa Payments modernization Service

shared by tahaemsd on 13 Feb 21 - No Cached
  • About Hello Paisa Since being licensed by the South African Bank, Hello Paisa has successfully launched the remittance offering to migrants living and working in South Africa. Hello Paisa offers a convenient, secure and affordable means for migrants to send cash home. With Hello Paisa we have taken the world’s most expensive remittance corridor and turned it on its head, by lobbying legislation and most importantly leveraging technology to drive down the cost of remitting funds and making it accessible to all, by taking into account the constraints that exist in our target market, with Hello Paisa you can transact via our Android App, our call centre but most importantly we have built a USSD dial string which is FREE  for the customer to dial and transact overcoming  the access barrier that existed before, thus we have successfully managed to solve a problem where many have failed before and changed the face of remittance in South Africa forever.
    • tahaemsd
      tahaemsd on 13 Feb 21
       
      the mission of hello paisa is to offer migrants living and working in south africa a secure, cost effective way of sending money to heir loved ones all around the world
chaimaa-rachid

Kiva City: Using Microloans To Revitalize Small Businesses In Struggli - 0 views

www.fastcompany.com/...ses-struggling-american-cities

Microloans Kiva small-business

shared by chaimaa-rachid on 13 Feb 21 - No Cached
  • Microfinance platform Kiva has proven many times over that people are willing to give $25 microloans to entrepreneurs in developing countries. Now the platform is bringing its microfinance savvy to small business owners in struggling areas of the U.S. with Kiva City, a program launched this past June. The program has already proven successful in Detroit and New Orleans (the two launch cities), where 19 initial loans have been fulfilled by microlenders. That’s over $135,000 in loans.
  • chaimaa-rachid on 13 Feb 21
     
    It appears to be truly interesting how KIVA has utilized microloans in order to revitalize small companies that are battling in American urban communities.
hibaerrai

WorldRemit Raises $175M For Global Expansion | PYMNTS.com - 0 views

www.pymnts.com/...worldremit-funding-transfer

WorldRemit Remittance E-payments Online

shared by hibaerrai on 13 Feb 21 - No Cached
  • “In 2018, mobile and online payments to emerging markets reached a record high of $528 billion and we expect this number to increase. As WorldRemit handles a growing share of this market, we look forward to continue working with the company to scale its digital platform and expand its service to reach many new customers across the globe,” TCV General Partner John Doran said in the press release.
    • hibaerrai
      hibaerrai on 13 Feb 21
       
      WorldRemit acquires huge market shares and is making her way to becoming the first mobile and online payments platform.
hindelquarrouti

WorldRemit launches cash pickup service in Lebanon, Algeria | Mobile Payments Today - 2 views

www.mobilepaymentstoday.com/...kup-service-in-lebanon-algeria

WorldRemit Instant Money Lebanon

shared by hindelquarrouti on 11 Feb 21 - No Cached
  • Digital money transfer service WorldRemit has launched a new cash pickup service in Algeria and Lebanon, according to a press release.In Lebanon, funds recipients can collect cash from more than 130 branches of Wings International. Algerian recipients can collect cash from any branch of Trust Bank Algeria across the country. With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.
  • In Lebanon, funds recipients can collect cash from more than 130 branches of Wings International. Algerian recipients can collect cash from any branch of Trust Bank Algeria across the country. With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.
    • samielbaqqali
      samielbaqqali on 12 Feb 21
       
      In Algeria, WorldRemit provides a good service and it seems they have earned the confidence of customers, so I believe an expansion strategy will work for them because they are growing rapidly and in many countries.
  • With the WorldRemit app or website, people in more than 50 countries can send instant, secure money transfers to more than 125 destinations, the release said.
  • hichamachir on 11 Feb 21
     
    WorldRemit is providing a good service in Algeria and it seems that they've gained the customers trust, so I believe that an expansion strategy can work for them because they're growing fast and in many countries.
  • hindelquarrouti on 13 Feb 21
     
    WorldRemit is expanding and launching new services in Lebanon. Now people in numerous countries can send instant money, and in even a larger number of countries, people can receive instant money.
mohammed_ab

Visa and Fawry sign strategic partnership to accelerate digital payments acceptance | Z... - 1 views

www.zawya.com/...acceptance-ZAWYA20201004113100

Fawry Egypt Visa Fintech Partnership

shared by mohammed_ab on 13 Feb 21 - No Cached
  • Visa, (NYSE: V), the world’s leader in digital payments and Fawry, the leading digital transformation and ePayment platform in Egypt announced that they have signed a strategic partnership to accelerate acceptance of digital payments in Egypt in alignment with the Central Bank of Egypt’s plans to build a digital economy and advance digital and financial inclusion in the country.The partnership aims to catalyze the provision of open loop Visa digital acceptance solutions including both POS terminals and QR solutions to a larger number of merchants so they can benefit from the advantages of electronic payments by leveraging on Visa’s vast global network and experience as well as Fawry’s locally relevant solutions.  
    • nouhaila_zaki
      nouhaila_zaki on 13 Feb 21
       
      This excerpt is important because it touches upon partnerships initiated by Fawry with Visa and the Egyptian Government (and Central Bank) in an effort to promote financial inclusion and build a digital economy in Egypt.
  • Visa and Fawry sign strategic partnership to accelerate digital payments acceptance
  • One of the key solutions that the partnership aims to address is the need to enable a digital ecosystem that easily supports the needs of consumers and merchants. Through Visa Direct’s peer to peer transfer and low cost QR solutions, millions of customers – regardless of who they bank with – would be able to make peer to peer and business to business transactions easily and securely so they can move money in real time.
  • mohammed_ab on 13 Feb 21
     
    The excerpt is relevant here because it introduces a critical partnership between Fawry and Visa. This partnership will have positive impacts on Fawry: Quick and secure money transfer between people regardless of their bank.
samielbaqqali

Lending and payment systems in upheaval: the fintech challenge - 0 views

www.ecb.europa.eu/...cb.sp190226~d98d307ad4.en.html

Fawry Fintech Costs

shared by samielbaqqali on 13 Feb 21 - No Cached
  • As technology gives new entrants better and cheaper ways to compete for core banking business, banks’ dominant position could be challenged.
    • samielbaqqali
      samielbaqqali on 13 Feb 21
       
      Fawry should reduce its costs in order to gain loyal customers.
mbellakbail69

JUMO breaks the US$2.5B disbursement mark in Africa and Asia - JUMO - 0 views

www.jumo.world/...sement-mark-in-africa-and-asia

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • This milestone has been reached just over 18 months after crossing the US$1B mark in 2019, and indicates exponential growth in the access to and availability of working capital for customers, with an average customer default rate of less than 5%. Andrew Watkins-Ball, Founder & Group CEO, said this achievement is evidence of the success of JUMO’s unique business model, its ability to reach unbanked populations and to provide market-leading infrastructure for financial services.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      JUMO partners with funders, banks and telecommunications companies to power a new generation of financial tools. The company was founded in London in 2015 and uses mobile wallet technology with data-driven credit prediction models to provide digital financial services infrastructure to partners, and products at scale to customers in emerging markets.
kenza_abdelhaq

Egyptian fintech in 2020: A tale of crosswinds and tailwinds [Part One] - Wamda - 0 views

www.wamda.com/...2020-tale-crosswinds-tailwinds

Fawry Egypt Context Global Economic

shared by kenza_abdelhaq on 13 Feb 21 - No Cached
  • Fortunately, Egypt’s first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations – an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Egypt managed to have a positive GDP growth in 2020 even though the pandemic impacted negatively more than 80% of the startups.
  • If we look back on 2020, the largest funding rounds for Egyptian startups were not in fintech but healthcare and transport, with Vezeeta raising more than $40 million and Swvl more than $20 million. Yet, fintech still managed to make headlines on several occasions, including new regulations, high profile investment rounds and exciting launches. It was an eventful and exhilarating year for the fintech ecosystem in Egypt.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Even though more importance was given to healthcare and transport with regard to the largest funding rounds, fintech was still getting a lot of attention (making headlines, new regulations, etc).
  • Fawry’s success story has undoubtedly encouraged investments in other e-payments venture that will help dynamise this space in coming years. The industry is still massively underpenetrated as cash remains king but will remain as one of the more active areas within fintech in coming years.
    • kenza_abdelhaq
      kenza_abdelhaq on 13 Feb 21
       
      Fawry being the leader of digital payments in Egypt definitely helped encourage investments in this field/industry.
  • kenza_abdelhaq on 13 Feb 21
     
    "Fortunately, Egypt's first Covid wave was milder than those in other countries. The country managed to get by without going into full lockdown and the country is now one of the few in the world with a positive gross domestic product (GDP) growth outlook for 2020. Despite the mild top-line hit, most startups still felt the impact of Covid-19, with a whopping 83.9 per cent indicating, in May, that they had been negatively impacted by the crisis. The same survey highlighted that 29 per cent of Egyptian startups had suspended operations - an alarming proportion that would have increased with the recent resurgence of the virus. It remains to be seen what the full impact of the second wave is.  "
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