Hi Fintech friends 👋,

Here are the highlights of what happened in African Fintech this week;

• African B2B Ecommerce raised $20 Million to double down on embedded finance.
• Visa strategically invested in two African Fintechs.
• West African VC raised $35 Million to back African growth startups.
• Three biggest African Fintechs joined the newly launched stablecoin payment Network.
• A new fund was announced to back replicated fintech startup models in emerging markets.

Join an online community of TWIF Premium members and enjoy exclusive fintech conversations, private events, roundtable discussions, networking, job matching, and premium industry insight - all in one place.

Community

📱To join our Slack with 10,000+ other fintech enthusiasts, sign up below. This Week in Fintech has two online communities: * TWIF Premium for fintech founders, investors, and operators. * Curated membership * (Note: you can sign up for the Premium Slack below; this is separate from our members-only Premium Newsletter, which

This Week in FintechSabrina Baxter

💸Fundraise and Exits

• Omniretail raised $20 million to double down on embedded finance products for Africa’s informal retailers.
• Visa Invested  in Tunisian fintech  Konnect and Moroccan startup Paytic.

• South Africa’s DigiSquad raised funding to expand digital payments in underserved.

💰 Venture Funds

• Fluent Ventures expanded to back replicated fintech startup models in emerging markets.

• Aruwa Capital raised $35 Million to back high growth businesses in Ghana and Nigeria.

🚀 Partnerships & Product Launches

• Lendsqr launched voice, video AI for loan assessments in Nigeria.

👔 Leadership Lineup

• “Our biggest competitor in remittance is peer-to-peer transactions (people sending money back home through friends and family). Our approach isn’t necessarily to go head-to-head with Lemfi or Grey, it’s to go after the huge, untapped market; people still sending money manually”. Said Eniolorunda, Founder and CEO of Moniepoint.

📰 News of the Week

• Flutterwave, YellowCard, Onafriq joined stablecoin-based payment network launched by company behind USDC.

Circle Internet Group, Inc., a global financial technology company and stablecoin market leader Launched Circle Payments Network to connect financial institutions to enable faster, lower-cost, and more transparent cross-border payments using USDC, EURC, and other regulated payment stablecoins. Flutterwave, YellowCard and Onafriq are among the announced Fintechs partners of the network.

👀 Eye Openers

• Stablecoin adoption in Africa is accelerating

📑 Read of the week

• Deep Dive: How Stripe's Paystack is able to offer a consumer app, Zap .(Fintech Bridge)
• The Missed Opportunity: Why African Startups Should Be Building With, Not Against Legacy Businesses. (jumanne Mtambalike)

📖 Other News, Reads, and Media

• Central Bank Of Nigeria released list of 108 IMTOs with commercial approval.

🎥 VIDEO INTERVIEWS/DISCUSSIONS

• Interview with Ola Oyetayo, Co-founder and CEO of Verto on how he has managed to build the biggest B2B cross-border payments company.

🦉 Tweet of the Week

🎯 Fintech Opportunities

• Opportunity to connect and network with founders, partners, and investors in the global stablecoin ecosystem. Register now!

Made in Tanzania 🇹🇿 with 💚

👍🏽👎🏽  Did you enjoy this edition of This Week In Fintech Africa? Please share your feedback with me on Twitter or LinkedIn .