Tech

Nigerian blockchain startup Bingtellar steps up cross-border payments infrastructure

Published

10 months ago

February 9, 2024

Nigerian blockchain startup, Bingtellar, has stepped up plans to build a modern cross-border payments infrastructure and tools for Africa that would streamline global transactions for individuals and businesses.

CEO and co-founder of the startup which started operations in 2022 by Joshua Tebepina, said the new facility will “enable Bingtellar provide swift and cost-effective cross-border transactions into or across Africa for diaspora, freelancers, remote teams, international contractors, and businesses.”

“Unlike the conventional 7–14 business days, our solution ensures rapid, seamless, and affordable money transfers. Picture it as the “Wise for Africa”, harnessing the efficiency of stablecoins to reduce both costs and transaction times significantly,” Tebepina said while speaking with tech journalists.

“At the heart of Bingtellar’s solution is the integration of stablecoins and DeFi to local payment networks, such as mobile money wallets and bank accounts, supported by efficient on/off ramps and institutional market makers.

“This integration empowers African users and businesses worldwide, allowing them to access the global economy, make everyday payments and send money from regions like Africa, Europe, Latam, and Asia using fiat or digital assets such as USDC, USDT, and cUSD, while recipients receive value or cash instantly in their local naira, cedis, or shilling bank accounts or mobile money wallets,” he added.

“This strategic approach tackles challenges related to interoperability, fragmentation, currency restrictions while enhancing accessibility and global connectivity.

“These challenges, including high costs, delays and currency restrictions particularly in freelancing payments, prompted us to introduce a stablecoin-based solution to HR teams. The success of this solution led to the organic growth of a robust product and infrastructure within our networks.

“We have also achieved significant milestones in terms of product development and user engagement, securing strategic partnerships and successful launches in five African countries – Nigeria, Ghana, Kenya, Rwanda, and Uganda.”

Related Topics:Bingtellar Blockchain Featured Startup

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Tech

Tanzanian fintech startup Tunzaa announces capital raise for expansion

Published

12 hours ago

December 4, 2024

Isaac Dachen

Tanzanian fintech startup, Tunzaa, has announced raising fresh funds to enable it carry out its expansion plans.

The fintech, which has developed an innovative payments API enabling e-commerce transactions to be processed in installments, said in a statement that it secured the funding from Warioba Ventures.

A statement by Warioba Ventures said:

“This investment underscores our commitment to fostering solutions that address the unique challenges of African markets while creating a ripple effect of financial empowerment and economic growth.

“We believe Tunzaa is poised to redefine how payments and savings are integrated into the e-commerce experience, setting a new standard for financial inclusion and innovation.”

Tunzaa offers flexible installment that empowers consumers to access products more conveniently while promoting financial inclusion and economic empowerment.

The platform inspires a culture of savings by enabling consumers to save towards specific goals through gamified incentives.

Tech

Egyptian freight-fowarding startup Nowlun raises $1.7m in seed funding

Published

2 days ago

December 3, 2024

Isaac Dachen

Egyptian digital freight forwarding platform, Nowlun, has announced raising $1.7 million in seed funding, which is a significant milestone for the Middle East and North Africa (MENA) logistics sector.

The seed funding round, according to Nowlun’s CEO, Moataz Khamis, was led by Nama Ventures and A15, with participation from Sanabil 500 Global and prominent angel investors.

In a statement announcing the funding, Khamis said the investment will fuel Nowlun’s ambitious expansion plans and accelerate the development of its innovative technology platform, which is transforming the logistics industry by offering instant, transparent, and competitive ocean freight rates, streamlined shipment management, and real-time visibility into cargo movements.

Founded in 2021 by Khamis, Mahmoud Khaled, and Ahmed Emara, Nowlun has rapidly established itself as a key player in the MENA logistics market, integrating all major shipping lines, providing businesses with unparalleled access to real-time pricing and enabling them to make faster, more informed decisions.

“Nowlun’s advanced shipment management system offers a comprehensive control tower, allowing users to track their cargo in real-time, receive instant notifications, and proactively manage any issues,” Khamis said.

“Throughout my decade in logistics, I’ve witnessed the daily inefficiencies shippers face.

“Driven by a sense of responsibility, my team and I are committed to transforming the industry using cutting-edge technology. This funding will empower us to further simplify the shipping process and make shippers’ lives easier,” he added.