Egyptian fintech startup Paymob completes $18.5m Series A funding round Innovation

Egyptian digital payments provider Paymob has closed its Series A funding round at US$18.5 million, funds it will use to expand its product and scale regionally. Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob is an infrastructure technology enabler providing […]

Nigerian fintech Appzone raises $10M for expansion and proprietary technology

Africa’s fintech space has gained proper attention over the past few years in investments but it is not news that startups still battle with offering high-quality products. However, they seem to be doing quite well compared with traditional banks that face challenges like legacy cost […]

Alibaba hit with record billion-dollar fine by Chinese authorities alibaba

Chinese regulators have penalized e-commerce giant Alibaba with a record 18.23 billion yuan ($2.8 billion) fine for violating anti-monopoly laws.  The fine, equal to around 4% of Alibaba’s domestic revenue in 2019, is reportedly the largest anti-monopoly fine ever rolled out by Chinese authorities. It […]