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Quona Capital Sinking $332M Into Startups Focused on Financial Inclusion

The firm had its final close on $332 million in capital commitments for its Fund III, which invests in companies in Latin America, India, Southeast Asia, Africa and the Middle East.

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Finclusion Raises $20M to Build Out Credit-led Neobank Offering Across Africa

The fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products has raised $20 million in debt and equity pre-Series A financing.

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Hong Kong Fintech Unicorn WeLab Raises $240M to Buy Indonesian Bank

With this move, WeLab is planning to launch a digital bank to capture the country’s enormous unbanked population.

News

Africa Turns to Mobile Payments as a Tool to Curb COVID-19

Governments and startups on the continent are implementing measures to shift a greater volume of payment transactions toward mobile money and away from cash. It’s an option facilitated by the boom in fintech that’s occurred in Africa over the last decade. 

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Kenya Turns to Safaricom's M-Pesa Mobile-Money to Stem the Spread of COVID-19

Safaricom announced that all person-to-person (P2P) transactions under KSH 1,000 (≈ $10) would be free starting Tuesday for the next 90 days.