Khazna might have only burst onto the fintech scene in 2019 but the start-up has made giant strides since then.

One of the biggest products from the start-up was their advance loan scheme to employees who are relatively underbanked or would not have qualified from other traditional banking institutions. This allowed such employees to cover expenses till they could access their pay at the end of the month.

Such services have endeared the start-up to many, and they are sure to reach even more unbanked and underbanked Egyptians with their new prepaid card solution.

Backed by strategic partnerships with the Abu Dhabi Islamic Bank of Egypt and Masria Digital Payments, the prepaid card will offer local and international financial services to those who do not have access to a bank account.

The premise of this product launch is based on the fact that of the unbanked population, there are some who have access to smartphones. Thus, they can get the best of these services without ever having to worry about traditional banking.

The prepaid card will also help users access their wages, creating a seamless way for employers to pay their employees who might not have a regular bank account to receive payments. Linked to the Khazna super app, users will now have access to bill payments, instant transfers and purchase options for necessary home equipment from the same place.

Making life easier, and growing while at it, it is little wonder why investors are looking to stake their money in this start-up.

One of the goals of every startup is to make a profit. And to do that, such a business has to procure solution(s) to a general problem.

That is how the majority of businesses out there sustain and rake in profit. The same applies to the transport system. And many are diving into the mobility business.

In that vein, a South African transport company – WhereIsMyTransport – has secured a $14.5 Series A extension round to help it scale across other markets.

The startup, which started operations in 2016, is a significant data medium for sustainable mobility in emerging markets.

The startup does not only run the transport business, but it took a step further to collect data and integrate the information on its open data platform to ensure it delivers a satisfactory service.

The startup has dedicated products that allow cities to monitor services, operators, and the passengers who access the platform through apps and endpoints synchronized with the WhereIsMyTransport platform.

Meanwhile, the company plans to channel the new investment towards its expansion across emerging markets.

Currently, the firm is operating in Mexico. And it has mapped over 34 African countries.

‘’WhereIsMyTransport started in South Africa intending to become a central source of accurate and reliable public transport data for high-growth markets,’’ said Devin de Vries, CEO of WhereIsMyTransport.

‘’We are thrilled to welcome Naspers as our investor in our quest to expand beyond Africa.’’

Lately, foreign investors and investment programmes are starting to develop an interest in the African market.

Many startups sprung up during and after the lockdown phase in Africa. And a lot more are still showing up.

These startups come up with innovative ideas with the potential to improve the welfare of the people and the economy at large.

However, many of them lack adequate funding to execute their mission. And that’s where investors and startup support programmes play a vital role.

To that end, the Federal Development Ministry of Germany has announced a new programme – DeveloPPP Venture – that aims to empower Kenyan startups financially.

The programme is set up to provide baby companies entrepreneurial support with a capital of up to EUR100,000 (~$120,000).

The initiative aims to award startups that have realized proof of concept and are ready to scale with grants through the matching-funds model.

The DeveloPPP Ventures programme targets young entrepreneurs making innovative contributions to improve living conditions and promote a sustainable economy.

The programme is open to startups with their head office in Kenya. And they stand to receive a grant of up to EUR100,000 (~$120,000).

Beneficiaries of this grant will also receive tailored support from technical expert to help them scale.

Further, Germany’s Development Ministry mentioned that the new programme would start in Kenya. And it will gradually expand to cover more African countries.

Mono happens to be one of the many Nigerian startups that sprung up during the lockdown period in Nigeria.

The firm primarily deals in identity and financial data. And it has secured seed funding to launch new products and reinforce its current offerings.

The startup runs a plug-and-play system, which allows customers like Indicina, Flutterwave, and Carbon, a wide range of quality financial data from institutions across Africa via a single API.

The firm, which started operations in August 2020, helps digital business in Africa to identity and financial data of their customers.

Last year, the firm raised $500,000 in pre-seed funding round from a handful of investors, which include Ingressive Capital, Ventures Platform, Rally Cap Ventures, and some angel investors.

Interestingly, Mono got selected to participate in the Y Combinator accelerator earlier this year. The accelerator fetched the firm another $125,000 to improve on its services.

Now, the startup has secured a $2m funding round to help scale and launch new products in the fintech niche.

Mono plans to introduce new services like direct debit, bank-to-bank payments, and many other features that facilitate diverse business transactions.

The firm also looks to extend its reach into Ghana and Kenya to serve a broader customer base.

‘’Mono builds APIs and products that enable developers and businesses to create better experiences for their users, ‘’ said CEO Abdul Hassan.

‘’Our APIs act as a conduit to enable these businesses to safely access data and financial data for better understanding of its users and to make more customer-focused decisions.’’

‘’This new funding will facilitate the swift design of the best APIs and powerful infrastructure. And it will also provide us with the opportunity to expand the reach of our services to other markets,’’ Hassan concluded.