DafriBank’s Rising Unicorn Status with Plans to Raise 1 Billion Dollars Seed Fund

The news of DafriBank Digital Limited’s plan to raise a seed fund of $1 billion resonated around Africa and has been tagged the biggest fundraising by a fintech company, out of Africa. Over the last six years, the fintech sector has been the most populated and most funded among tech startups in the continent, with some of the players raising almost $900 million over the period.

The bank is following the trend with its planned fundraising of $1 billion (from 49% of its stake) from private investors. There are hopes and expectations from numerous analysts that leveraging on its global bank agent network to avail its services in over 180 countries and offering banking services and products covering personal, corporate, small and medium enterprises market segments as well as merchant API―is poised to be the next African tech unicorn.

Thus far, they have been living up to expectations. Earlier on January 19, the bank announced its intention to sponsor the 2022 edition of the Blockchain Africa Conference BAC, scheduled to hold between March 17 and 18, 2022. The sponsorship, which was announced by the bank’s chairman, Xolane Ndhlovu on social media, put DafriBank in the rank of previous blue-chip, high-value sponsors that include the Absa Group, ConsenSys, Bankserv, Binance, Crypto.com, Algorand, AAVE, Bybit, and Altercoin Trader.

DafriBank has also distinguished itself as an innovator in digital banking. Giving an insight into the bank’s relentless innovation and enterprising efforts, Xolane Ndhlovu, DafriBank’s Chairman recently said: “We are entering a new era of banking. Different consumers have different needs and are shopping around for a more personalized service and additional features such as our fiat-to-USDT conversion ability which have become o