360Wallet owner has claimed that South Africa’s biggest banks are blocking its cardless cash withdrawal technology.
Browsing: FirstRand
The story of how Johann Combrink built Pepla into one of South Africa’s most trusted software houses.
FirstRand lifted its stake to 26.1% in late March. Now Standard Bank has led a $330-million debt refinancing.
The bulk of capital is earmarked for later-stage rounds, where South African venture funding has long been thinnest.
Lytania Johnson has been named FNB CEO after Harry Kellan stepped down after just two years in the role.
FirstRand has deepened its bet on AI fintech Optasia, spending R1.48-billion to lift its stake to 26.1%.
Optasia sees formal banking as a massive growth opportunity as microfinancing overtakes its airtime advance business.
A PwC analysis shows technology investment is accelerating as incumbents face pressure from challenger banks.
JSE-listed fintech Optasia has smashed its listing guidance, with revenue up 76% and users climbing 43% to 432 million.
Optasia will list on the JSE at a valuation of R23.5-billion following the closing of its bookbuilding exercise.