bitmama

ChainCatcher news, the Nigerian cryptocurrency exchange platform Bitmama has temporarily suspended its virtual Mastercard service. This move follows a trend of challenges faced by African fintech companies regarding card services, including exchange rate fluctuations, chargeback fraud, and insufficient funds. Some fintech companies like Bitmama and Chipper Cash continue to offer alternative card services.

ChainCatcher news, according to TechCabal, Nigerian blockchain payment startup Bitmama is in acquisition talks with African fintech company Payday, and has now offered PayDay investors equity worth $1 million, with a valuation of $30 million.

According to Chain Catcher news and reported by TechCrunch, Nigerian blockchain payment startup Bitmama has completed a $2 million pre-seed funding round, led by Unicorn Growth Capital and Launch Africa, with participation from Adaverse, Flori Ventures, Tekedia Capital, GreenHouse Capital, ODBA, Five35 Ventures, Chrysalis Capital, Enrich Africa, Thrive Africa, and Angellist Ventures.It is reported that Bitmama will use this funding round to strengthen its team, consolidate product offerings, and expand its market presence in Africa, while also exploring new use cases for cryptocurrency on the continent. The company was founded in 2019 and recently launched a social payment solution called "Changera," which allows customers to make remittances and international payments using Stablecoin via virtual cards on Netflix and Amazon. (Source link)