DFS Lab launches fund to back fintech teams across Africa

AWS fintech Africa accelerator is aimed at supporting pre-seed and seed stage fintech startups developing their projects in Africa.

The company’s cash contribution is $250 000 to each company participating in the New York-based programme and £250,000 to each company participating in the London-based program.

Flutterwave can now offer deposit and withdrawal services, electronic funds transfer, as well as inbound and outbound remittance services to the 13.46 million people in Rwanda.

Flat6Labs will invest in 160 companies that are in pre-seed up to pre-series A stage, with tickets ranging from US$150 000-US$500 000.

Extensive adoption of digital financial services in Zambia presents important opportunities in the country, says the regulator.

The company is bullish about the growth potential in Africa and will soon deploy its ‘best-of-breed technology platform’ in a number of countries.

The fintech will use its payment technology infrastructure to digitise merchant payments, collections and disbursements for ecommerce, and remittances.

Flutterwave identified an unusual trend of transactions on some users’ profiles, but denies a security breach took place and says no funds were lost.

MTN’s fintech performance was driven by customer value management and the development of a cashless economy.

Fintech Paymenow is entering the Zambian market through Izwe partnership to roll out earned wage access platform.

Extension of program membership to Asia-Pacific follows USA, Canada, and Middle East-North Africa.