Miden: Revolutionizing Card Issuance Speed in African Fintech

Miden: Revolutionizing Card Issuance Speed in African Fintech

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In the dynamic landscape of African fintech, Miden emerges as a game-changer by slashing the card issuance time from months to weeks, aiming to drive financial inclusion. With innovative solutions and rapid growth, this Y Combinator-backed startup navigates the complexities of the virtual card space.

Miden, a fintech startup founded by Dom Okiemute and Ini Udoh, aims to transform the card issuance process in Nigerian financial institutions. Partnering with established banks, Miden's solution significantly reduces the average time for card integration, earning it a spot in Y Combinator's winter 2024 batch. The platform allows businesses to issue virtual cards in both USD and Naira, offering a user-friendly API and pre-built integrations, with over 100,000 cards issued in four countries. Miden's ambitious plans include expanding into a full-fledged core banking provider, offering physical USD cards and additional functionalities beyond virtual cards. Despite challenges in talent acquisition and industry risks, Miden marks its presence with a remarkable $3.2 million monthly processing and aims to contribute to financial inclusion in Africa.

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