Leading African FinTech Firms Expected for Africa Tech Summit London 2019

Africa Tech Summit London

The Africa Tech Summit London 2019 is almost here and leading FinTech firms across the continent, have already punched their tickets to one of the biggest blockchain technology conferences in the world.

The one-day event will take place on June 11, during the London Tech Week. It will feature several workshops and unique panel discussions on industry trends. Specifically, the event will drive interaction on digital topics such as Fintech, Blockchain, Payments and Credit, Mobility, Investing, Mobile and Startups.

FinTech is shaping Africa’s future

In Africa, financial technology (FinTech) is increasingly receiving attention from both private and public sector. This is mainly because FinTech holds the potential to facilitate innovation in other sectors of the economy. FinTech is also the most invested sector on the continent since 2017. And the majority of these investments have been routed towards Kenya, Nigeria and South Africa

It seems the desire to level the playing field for the unbanked and underprivileged communities in Africa has created opportunities for new startups to provide worldwide financial inclusion. Therefore, FinTech firms have sought to incorporate mobile technology, machine learning, and blockchain into traditional financial systems.

Today, many Africa FinTech firms provide not only bank accounts, but also mobile payments, credit, remittances, cryptocurrencies, insurance, and investments. In fact, sub-Saharan Africa (SSA) accounts for 60% of all global mobile money payments, according to a recent report by GSMA.

FinTech firms at Africa Tech Summit London

So which leading Africa FinTech firms will be speaking at Africa Tech Summit London next week?

BitPesa: A blockchain-based remittance platform based out in Kenya. BitPesa offers businesses a fast, easy and, low-cost way to make and accept cross-border payments. It was the first Blockchain Company to be licensed by the UK’s Financial Conduct Authority and has raised US$15 million in funding.

Branch International: Branch employs machine learning and mobile technology to assess customers’ credit based on their GPS data, call logs, contact lists and payments in order to make personal loans.  The company raised US$170 million Series C funding round, the largest ever raised by an African focused venture.

Yoco: An African technology firm that provides small and medium businesses (SMBs) with tools and services they need to receive payments, improve efficiencies and grow. Yoco simplifies commerce for SMBs by providing access to card payment acceptance, point-of-sale software, and capital. The company has raised $23 million in funding to date.

JUMO: Is a platform that allows customers to access savings and loan accounts, and configures the loan by amount, term and payment method. JUMO majorly partners with banks, e-commerce, and mobile network operators. The Company has raised over US$90 million to date.

OneFi: Is a Nigeria-based financial services startup giving users access to credit, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management. Its Carbon app is the largest fully automated smartphone lender in West Africa. The app boasts over one million downloads and disburses just under 2,000 loans per day in Nigeria. To date, OneFi has raised US$13.8 million.

Flutterwave: Is a leading online payment helping banks and businesses to provide seamless and secure payments. So far, Flutterwave has processed 60 million transactions worth over US$2 billion. The company recently completed Series A Extension round of financing, extending its total funding to more than US$20 million.

Lydia: Is a platform for small and medium businesses, providing lending solutions to startups seeking US$500 to us$50,000 in working capital. The platform employs about 100 data points to evaluate businesses and build a credit score unique to each startup. So far, Lydia has raised US$8.2 million.

London Stock Exchange welcomes Africa startups

Speaking ahead of the event, London Stock Exchange Business Development Manager, Africa, Manji Cheto said:

“We are delighted to support the Africa Tech Summit. London is home to a fast-growing community of tech firms from across the world choosing our markets to help finance their future development and we are committed to helping companies realise their potential.”

He further added that the London Stock Exchange Group continues to support African companies through international investments and by developing African capital markets. Meanwhile, Andrew Fassnidge, Founder of Africa Tech Summit said that the event will also feature the launch of trading at the London Stock Exchange.

Ledger Africa will be providing highlights of blockchain technology presentations as they occur via our official Twitter page.

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Our editorial team is composed of experienced technology writers who strive to provide comprehensive insights into blockchain adoption across Africa.