Fintech
Innovation in financial technology — digital payments, neobanks, blockchain, and more.
UAE Fintech Flow48 Closes $69 Million Series A to Scale SME Revenue-Based Financing Across MENA
Flow48, the UAE-based SME financing fintech, closed a $69 million Series A of debt and equity led by Breega to expand revenue-based lending in the UAE and South Africa and into Saudi Arabia.
Mercado Libre Reports Q4 2024 Revenue Up 37% as Mercado Pago Processes 11.4 Billion Transactions
Mercado Libre posted Q4 2024 revenue growth of 37% year-on-year, as Mercado Pago processed 11.4 billion payment transactions in 2024 and its credit portfolio grew 74% to $6.6 billion.
Kuda Bank Confirms 2024 Equity Fundraising Round via UK Companies House Filing
Nigerian neobank Kuda Bank confirmed it completed an equity fundraising round in 2024 through a UK Companies House filing, with revenue having grown to $32m and a user base of 7.2 million.
Grab Financial Services Posts 44% Revenue Growth and $536 Million Loan Portfolio in FY2024
Grab's financial services arm posted FY2024 revenue of $253 million, up 44%, with its loan portfolio growing 64% to $536 million and digital bank deposits reaching $1.2 billion.
Robinhood FY2024 Revenues Rise 58% to $2.95 Billion with Record Q4 Net Income of $916 Million
Robinhood reported full-year 2024 revenues of $2.95 billion, up 58%, and swung to a $1.41 billion net profit from a prior-year loss, with assets under custody reaching $193 billion.
Saudi Arabia's Tabby Raises $160 Million Series E at $3.3 Billion Valuation to Become MENA's Most Valuable Fintech
Tabby raised $160 million in Series E funding at a $3.3 billion valuation on 12 February 2025, becoming the most valuable fintech in MENA as annual transaction volumes surpassed $10 billion.
Affirm Posts Record $10.1 Billion Quarterly GMV and $866 Million Revenue in Fiscal Q2 2025
Affirm reported fiscal second-quarter GMV of $10.1 billion — its first-ever quarter above $10 billion — alongside revenue of $866 million, up 47% year-on-year, and net income of $80.4 million.
Egypt's Khazna Raises $16 Million Pre-Series B to Target Digital Banking Licence and Saudi Arabia Entry
Egyptian fintech Khazna secured $16M in pre-Series B funding with participation from Quona and Speedinvest, bringing total funding to over $63M, as it targets a digital banking licence and Saudi expansion.
MobiKwik and CRED Become First Non-Banking Fintechs to Launch e-Rupee CBDC Wallets in India
MobiKwik and CRED launched digital rupee wallets in January 2025, becoming the first non-bank payment companies to offer India's CBDC following an RBI policy change.
SAMA Grants STC Bank Full Approval, Making It Saudi Arabia's First Licensed Digital Bank
The Saudi Central Bank granted STC Bank full approval to operate as a digital bank in January 2025, making it the first licensed digital bank to launch full operations in the Kingdom.
SoFi Technologies Achieves First Full-Year GAAP Profit with $499 Million Net Income in 2024
SoFi Technologies recorded full-year 2024 GAAP net income of $498.7 million, its first profitable fiscal year as a public company, with membership surpassing 10 million.
Nigeria's Moniepoint Secures Strategic Visa Investment to Accelerate Pan-Africa Expansion
Nigerian fintech Moniepoint has received a strategic investment from Visa to fuel pan-Africa growth, months after reaching unicorn status with a $110m Series C round.