Africa's tech ecosystem just got a boost of attention, with South Africa's TymeBank and Nigeria's Moniepoint both raising funds in recent weeks at valuations of over $1 billion and joining the coveted unicorn pantheon. But those valuations don't just reflect investor confidence. They signal the success they've had in taking disruptive fintech models originally developed for mature economies, and scaling by tailoring them to work in a region where nearly half the population remains unbanked. 'In Africa, it's a catch-22: you can't have one thing without the other,' said Lexi Novitske, general partner at Norrsken22, an investor in TymeBank, to TechCrunch. 'Many tech companies must build customer acquisition and engagement through highly analog or physical efforts.' Their strategy contrasts challenger banks in the U.S. and other developed markets. Revolut, Monzo, and Chime operate as their names suggest: digitally. Even some platforms in emerging markets, like Nubank and JPMorgan's C6...
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