PayCargo Raises $35 Million; PayPal and Mastercard Expand Debit Card in Europe: News Roundup

PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

Fintech Funding

Indonesian fintech startup BukuWarung has announced new funding from high-profile investors in the U.S. and Asia. The company, which helps micromerchants manage cash and credit transactions, has raised money in three rounds during 2020. Its latest investors include individuals from Plaid, Tinder and Spotify. It plans to use the new funds for hiring and product development. From e27.

PayCargo, which provides cloud-based payments and financing services for the cargo industry, has raised $35 million from investor Insight Partners. The investment firm had previously said it would use some of the money from a fund it announced in April on new opportunities that arose out of the pandemic. PayCargo serves shippers, carriers and vendors with paperless and contactless solutions that help modernize the shipping industry, a need that has been heightened by pandemic restrictions. From TechCrunch.

Nigerian fintech companies raised more than $600 million between 2014 and 2019. This is according to a McKinsey report on the potential for the growth of fintech in that country. Despite the significant growth of the last few years, most Nigerian consumers are still underserved by the financial system, making it an attractive market for fintech investment. From TheCable.

Digital Download

Integrating online and offline channels is now critical for any size retailer who wants to weather the current storm. This is according to a webinar from Visa regarding the future of the retail sector in UAE and Saudi Arabia. The company said that brick-and-mortar businesses still dominate retail in the region, but ecommerce is growing faster. From Gulf News.