The funding round attracted global heavyweights, including a $150 million investment from Nu Holdings Ltd., Latin America’s largest financial institution.
According to FSCA statements, Banxso reportedly contacted clients, implying that its FSP license had been reinstated and that it could legally resume trading activities.
As more startups layer financial services onto distribution networks, the message is clear: surviving Africa’s B2B e-commerce crunch may hinge less on moving goods, and more on financing them.
Temu’s expansion comes less than a year after Jumia Technologies AG, often dubbed the “Amazon of Africa,” shut down operations in South Africa and Tunisia.
As more startups layer financial services onto distribution networks, the message is clear: surviving Africa’s B2B e-commerce crunch may hinge less on moving goods, and more on financing them.
