Profitable African fintech PalmPay is in talks to raise as much as $100M

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PalmPay, an African digital bank fintech, is in talks to raise between $50 million and $100 million in a Series B round, according to multiple sources familiar with the matter.

It’s unclear what valuation it hopes to get, but its last round, in 2021, ranked it among the continent’s most valuable startups, estimated just shy of unicorn status.

While PalmPay declined to comment on fundraising specifics, a spokesperson said the 6-year-old fintech is “in a strong financial position and exploring growth opportunities.”

The company,…



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Profitable African fintech PalmPay is in talks to raise as much as $100M


PalmPay, an African digital bank fintech, is in talks to raise between $50 million and $100 million in a Series B round, according to multiple sources familiar with the matter.

It’s unclear what valuation it hopes to get, but its last round, in 2021, ranked it among the continent’s most valuable startups, estimated just shy of unicorn status.

While PalmPay declined to comment on fundraising specifics, a spokesperson said the 6-year-old fintech is “in a strong financial position and exploring growth opportunities.”

The company,…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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