Adanian Labs Africa incubated fintech startup MooveBeta to merge with ImpalaPay, a fintech blockchain company to provide a payment platform that will enable the Pan African and Diaspora communities to transact via e-commerce, social commerce, peer to peer and enterprise using multiple interoperable platforms including mobile money, cards, bank accounts and\/or crypto wallets powering over 500 million people.<\/p>\n
With MSME traders supporting 69% of the African population, the partnership between the two fintech solutions will set MooveBeta on a growth path to deliver differentiated payment solutions for micro transactions in the region and beyond with a first phase roll-out pegged on 17 African countries.<\/p>\n
Peris Wanjiru, co-founder and CEO of MooveBeta said \u201cWe are very optimistic to becoming a strong fintech contender in the new financial world in Africa, given that we are blockchain focused in our offering to support the continent\u2019s growing payment demands in a currently fragmented ecosystem. We are building with the future in mind, understanding the evolution and transformative nature of the digitalization movement taking place in the continent.\u201d<\/p>\n
Africa has the world\u2019s fastest-growing population, and the UN anticipates at least half of the global population growth between now and 2050 will come from the continent. The middle-class in Sub-saharan is steadily increasing in Africa, which is one of the positive indicators for growth; coupled with urbanization has been followed by increased productivity and economic development.<\/p>\n
Mr. John Mbindyo, the founder and CEO of ImpalaPay said \u201cIn the last 10 years of our operations we have seen many accomplishments by African startups in the fintech space. Even though the continent\u2019s youthful, entrepreneurial, and digitally savvy population embraces mobile usage, unfortunately there still is a large unbanked and underbanked population. On the flip side, however, these challenges have provided the perfect opportunities for companies like ours to be innovative and disruptive. Across the continent, this particular sector of the population (banked and unbanked) who have historically been left out by conventional institutions, are now looking to alternative innovations for their financial solutions. And this is what we are here to address through this merger with MooveBeta.\u201d<\/p>\n
According to multiple research the payment and remittance space accounts for one of the most sought-after segments with a 30% growth in startup companies in the last 4 years. \u201cAs fintech innovators we aim to spur financial inclusion by solving some of the difficulties experienced by businesses and individuals alike \u2014such as money transfers, savings and investment, payment and access to credit. Through this partnership we will be contributing immensely to the transformation of Africa\u2019s financial trajectory\u2019 further stated Mbindyo.<\/p>\n
MOOVEBETA AND IMPALAPAY<\/strong><\/p>\n MooveBeta is an e-commerce and fintech startup that helps users move value using a voucher system. It has been incubated at Adanian Labs for 6 months to empower consumers with the ability to send micro transactions via mobile money from anywhere on the globe to Africa and intra-Africa.<\/p>\n 10-year-old ImpalaPay, B2B payment company that built the first P2P mobile money multi-currency cross border platform with Bharti Airtel in 2014. ImpalaPay has been operating B2B payments on behalf of Airtel and IMT partners across 17 countries in Africa, including an interoperability between Airtel and MTN in Burkina Faso and the Ivory Coast and has also executed an interoperability between Airtel with Mpesa, UBA and Africash powering more than 200 million wallets and with over USD 1.8B transactions between 2018 and 2021<\/p>\n