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Africa Financial Services FinTech

Stitch emerges from stealth with $4M for its API fintech play in Africa

– Stitch, a South African fintech startup, is coming out of stealth and announcing its seed round of $4 million.
– This makes it the largest round raised by any API fintech startup in Africa at the moment.
– The company wants to provide full API access to financial accounts across Africa starting from its first market, South Africa.
– With its API, developers can connect apps to financial accounts. This allows users to share their transaction history and balances, confirm their identities and initiate payments.

Africa Banking Financial Services Information Technology Payments

South African digital bank TymeBank lands $109M from UK and Philippines investors

– TymeBank, a South African digital bank, secured an investment from new investors in the U.K. and Philippines.
– The company made this known via a statement.
– This investment will be used to bolster TymeBank’s growth and drive its commercial expansion across the country.
– The company offers a transactional bank account with zero or low monthly fees and a savings product.
– Most of its customers are onboarded via physical kiosks, usually in Pick n Pay and Boxer stores around the country.
– Since launching in February 2019, TymeBank has grown rapidly and now has about 2.8 million customers.
– The company says that it’s on track to reach 3 million by the end of next month.

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