🌍 Feed

✍🏿 Compose

Miden: Revolutionizing Card Issuance Speed in African Fintech

Miden: Revolutionizing Card Issuance Speed in African Fintech

#fintech
#startup
#payments
#startups accelerator
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.


Read more on TechCabal

Top comments(0)

SEND

You may like this too...

Bird Story Agency

Despite a dip in overall funding levels, the continent is witnessing a marked increase in the number of ventures securing $1 million or more.
Apr 10, 2024

Bird Story Agency

Mozambique doubles down on growth with Africa's first dual benchmark rate cuts in 2024 as currencies across the continent score gains against the greenback.
Apr 5, 2024

Bird Story Agency

From ranking as the world’s worst-performing currencies in 2023, the Kenyan shilling and Nigerian naira have made significant progress. They are now among the best-performing currencies in the world for 2024, raising hopes for a lower cost of living in these countries.
Apr 2, 2024

Benjamindada

Explore how Leatherback's collaboration with YES BANK is revolutionizing remittances by enabling seamless Indian Rupee transfers worldwide, fostering economic growth and cultural exchange between India and Africa.
Mar 26, 2024

TechCabal

Access Bank's acquisition of National Bank of Kenya (NBK) marks a significant move in its East Africa expansion strategy, valued at around $100 million, pending regulatory approval. 📈💰
Mar 21, 2024

TechCabal

Nigeria's Access Bank strengthens its presence in Kenya with the acquisition of the National Bank of Kenya from KCB Group, marking its second Kenyan acquisition in recent years. 🌍💼
Mar 20, 2024

TechCabal

Nigeria's Securities and Exchange Commission (SEC) proposes a substantial increase in the minimum paid-up capital for virtual asset service providers (VASPs) to ₦1 billion, aiming to reshape the crypto landscape.
Mar 18, 2024

TechCabal

Chipper Cash, a prominent fintech company, announces layoffs and salary cuts after suspending its services in the US, highlighting a strategic shift towards focusing on its African markets.
Mar 16, 2024

TechCabal

Despite economic challenges fueled by hyperinflation and sanctions, Zimbabwean startups are resilient and forging ahead. Learn how they navigate funding constraints, access markets beyond borders, and embrace alternative financial technologies.
Mar 15, 2024

Bird Story Agency

Nongcebo Langa fell in love with wine after a chance encounter with a winemaker at a fair. She went on to study the craft at South Africa’s renowned Stellenbosch University and her passion and mastery of the industry’s technical processes has resulted in her creating award-winning wines, like the 2022 Delheim Gewürztraminer.
Mar 12, 2024
Home
Business Hub
Market Hub
You
By signing up you agree to ourTerms|About us|Market Hub|Business Hub|Deals Hub