Fintech startup MooveBeta (MooveBeta.com) at Adanian Labs Africa has announced a merger with ImpalaPay, a blockchain company operating in 42 African countries and 134 worldwide. The merger will provide a payment platform that will allow Pan-African and Diaspora communities to make transactions through e-commerce, social commerce, peers and businesses using multiple interoperable platforms including mobile money, cards, bank accounts and / or crypto-wallets that cater to more than 500 million people.
MooveBeta, an e-commerce and technology startup that helps users simply and easily move an account through a voucher system, has been incubated at Adanian Labs for 6 months with a mission to give consumers the ability to send microtransactions using mobile money from anywhere. globe to Africa and inside Africa.
ImpalaPay with more than 10 years of experience is a strong B2B payment company responsible for creating the first cross-border P2P mobile money platform with Bharti Airtel in 2014. ImpalaPay makes B2B payments on behalf of Airtel and IMT partners in 17 countries in Africa, including interactions between Airtel and MTN in Burkina Faso and Côte d’Ivoire. ImpalaPay has also interacted between Airtel with Mpesa, UBA and Africash, providing more than 200 million wallets and carrying out transactions worth more than $ 1.8 billion between 2018 and 2021.
As IHR traders support 69% of the African population, the partnership between the two technology solutions will enable MooveBeta to grow on the path to providing differentiated payment solutions for microtransactions in the region and beyond with the first phase of deployment tied to 17 African countries. .
Paris Wanjiru, co-founder and CEO of MooveBeta, said: “We are very optimistic about becoming a strong contender for financial technology in the new financial world in Africa, given that we focus on blockchain in our proposal to support growing demands. to pay the continent is now a fragmented ecosystem. We build with the future in mind, understanding the evolution and transformational nature of the digitalization movement taking place on the continent. ”
Africa has the fastest growing population in the world, and the UN estimates that at least half of the world’s population growth by 2050 will be on the continent. 15% of sub-Saharan Africa is middle class. However, in Africa this share is steadily increasing, which is one of the positive growth rates. This growth combined with urbanization was accompanied by increased productivity and economic development.
Mr John Mbindio, founder and CEO of ImpalaPay, said: “Over the last 10 years of our operation we have seen many achievements of African startups in the tech space. Although the continent’s young, entrepreneurial and digitally savvy population is embracing the use of mobile communications, unfortunately, there is still a large population without banking services. On the other hand, however, these challenges have opened up great opportunities for companies like ours to be innovative and disruptive. Across the continent this particular sector of the population (banking and non-banking), which have historically been abandoned by conventional institutions, is now looking for alternative innovations for their financial solutions. And that’s what we’re here to address through this merger with MooveBeta. “
According to numerous studies, the space for payments and remittances is one of the most sought after segments with startup companies growing by 30% over the last 4 years. “As innovators in the field of technology, we seek to foster financial integration by addressing some of the challenges faced by both businesses and individuals, such as remittances, savings and investments, payments and access to credit. Thanks to this partnership, we will make a huge contribution to the transformation of Africa’s financial trajectory, ”Mbindjo said.
Since its inception in March 2020, Adanian labs has provided a launching pad for more than 40 startups in the 5 countries where it is present, creating unrivaled opportunities in the African technology startup space. Of the first cohort of 14 startups incubated by Adanian Labs, five have raised initial funding 7 times, including the lab itself, emphasizing ‘Camel Theory ‘as it aims to become the leading venture studio in Africa Without Borders. A new cohort of 26 startups was launched in March 2022 in Kenya, Tanzania, Zambia, Nigeria and South Africa.
“Adanian Labs creates unprecedented opportunities for technology startups on the continent. From access to finance and investors, training and mentoring, to market strategies and launch pads with key infrastructure, we have been able to offer startups under the umbrella of the Adana Lab opportunities that would otherwise be almost impossible to access. It’s a merger between our startup MooveBeta and B2B industry leader Fintech ImpalaPay to create a cohesive financial ecosystem in Africa and the diaspora, changing the game in the new financial world. ” Said John Camara, co-founder and CEO of Adanian Labs.
With such focused risk-free support, hands-on support and guidance from the lab for African startups and young technology entrepreneurs, the merger of ImpalaPay and MooveBeta promises to be just one in a long line of incredible stories of mergers and acquisitions of African startups.
Distributed by APO Group on behalf of MooveBeta.
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MooveBeta is a financial technology company based in Kenya with networks across Africa and the world, established in 2022 after the merger between Impala Pay Limited and MooveBeta.
The company strives to provide secure, fast and reliable financial services without borders to both businesses and individuals, as well as to offer a seamless remittance platform.
MooveBeta Inc. uses its global technology in cross-border digital wallet space with the intention of integrating multiple capabilities across a range of values, providing fast, affordable and secure online money transfers across Africa.
With four optional translation services, Moove voucher, international money transfer, card / mobile purchase, cross-border payments you can send money for various purposes such as family support, payment of school fees, business payments and more.
ImpalaPay is a universal digital payment and blockchain platform available worldwide. ImpalaPay uses its global technology in cross-border digital wallets, blockchains and digital currencies with the intention of integrating multiple capabilities across a range of values. This is achieved by using strong relationships with key stakeholders such as governments, smart cities, regulators, e-commerce companies, trade finance platforms and trading platforms, remittance companies, etc. to maximize global customer engagement.
Serves consumers (banking, non-banking and non-banking) via internet and mobile banking on traditional and BlockChain platforms from anywhere, including its Global Compliance mechanism for transactions worldwide.
About Adanian Labs:
Adanian Labs is a pan-African venture capital construction studio with a mission to create, incubate and launch technology companies and entrepreneurs working to address some of Africa’s most pressing issues.
Adanian Labs uses smart technologies (AI and Blockchain) as building blocks to create solutions that are impact-oriented, commercially viable and scalable in Africa and other parts of the world. The company has currently built 14 startups in the 1st cohort and 26 startups in the 2nd cohort in AgriTech, HealthTech, WomenTech, FinTech, AdTech, SmeTech and other fields; and launched 2 centers of excellence – the Center for Excellence in Artificial Intelligence in the field of artificial intelligence and the African Center for Blockchain Technology. https://www.AdanianLabs.io/
Adanian Labs is an EMURGO Africa partner headquartered in Nairobi, Kenya, with presences in Nigeria, Tanzania, South Africa, Zambia, Swaziland and the UK.
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