The partnership is leveraging digitization in the financial sector accelerated by the pandemic to create unique, Africa-specific products that will increase access of credit to the underbanked across the continent.

CSI’s advanced application programming interface capabilities provide simple, secure and audited access to a host of solutions including account opening, deposits, savings, payments, cards, identity verification and other critical lines of financial services.

Tazapay plans to use the funds to further scale its business across Asia and expand in other regions where the company is receiving strong demand for its services, such as the Middle East and Europe.

According to the company MNT-Halan provides small- and micro-business lending, payments, consumer finance and e-commerce.

The $3 million seed extension round was backed by DOB Equity, Globivest, and Willard Ahdritz. The latest round brings to $7 million the amount of capital that the fintech has now raised via this funding round.

The Line of Finance aims to promote Islamic finance, improve financial inclusion, and support private sector development in Uzbekistan.

By offering a frictionless and friendly lending experience, the firm aims to empower traditionally underserved Filipinos to achieve their goals and bring them into the formal and secure financial ecosystem.

A recent joint study from the Cambridge Centre for Alternative Finance at the University of Cambridge and World Bank found that the financial regulators are prioritizing fintech business models to contribute to financial inclusion and boost local economies.

According to the release, the partnership was inked at the eighth Tokyo International Conference on African Development, and is among the first to involve an African fintech company.

The United Nations Capital Development Fund launched the challenge with the aim to attract local and global fintechs with market-ready solutions to address identified problem statements which represent the challenges faced by Pacific Islands Countries.