This is a fintech startup providing a payment platform for merchants and payment service providers across the globe.
The company develops technology, infrastructure, and services to enable their clients like merchants, banks and other companies to establish secure and seamless payment systems for their customers by smoothening the exchange of funds. Recently, Flutterwave has raised $170 million in the course of C round, reaching the valuation of $1 billion.
Jumia Group
Origin: Nigeria
Head office: Dubai
Total of investments: $1,2 billion
The startup connects consumers and businesses across Africa and other continents. Their online platform provides consumers access to a great variety of products and services, from basic stuff to online travel. The company helps businesses save time and money by distributing their products and services in a more effective and scalable way.
Jumia was the first unicorn in the history of the African startup ecosystem. The company entered IPO and reached the valuation of $3 billion in 2019.
Fawry
Origin: Egypt
Head office: Cairo
Total of investments: $122 million
This is a fintech startup founded in 2008. It provides an Electronic Payment Network, which offers financial services through over 65,000 locations and channels.
Fawry enables both consumers and business to pay bills in a convenient and reliable way via multiple channels like mobile wallets, retail points, and more. The startup serves such retailers as small groceries, pharmacies, stationaries, and post-offices. All of them are equipped with point-of-sale machines used for credit card payments.
In 2020, the company reached the valuation of $1 billion, which made it the third unicorn with African roots. What contributed to this was the pandemic and surge in demand for payment systems. Today Fawry has nearly 30 million users and provides over 3 million payment transactions a day.
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