- Lumkani raised seed funding to expand its business of selling networked heat detectors and insurance to residents of informal settlements and slums.
ImpactAlpha, June 7 – Paying for college. Money management for youths. Pre-tax paycheck withdrawals. Senior citizen insurance policy sales. Those were the areas tackled by the winners of the fourth social fintech competition run by JPMorgan Chase and the Center for Financial Services Innovation. The theme of the competition, which received more than 300 applications
- FinCompare allows small businesses to compare credit offerings from 200 banks and alternative financial services providers.
- Albert, whose typical user has minimal savings and a median income of $40,000, makes recommendations about paying down debt and saving money.
- Lidya will use the $6.9 million to grow in Nigeria, expand to new countries and hire data scientists and engineers to improve its app.
- Cellulant’s Series C raise is the largest investment in an African fintech firm.
- Julo connects borrowers to short-term, unsecured cash loans using an algorithm it developed to assess customers’ credit-worthiness.