Mālō e lelei,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- PayU Kenya shuts down after CBK revokes licence
- This VC fund isn’t after unicorns but returns
- Moniepoint’s Series C round climbs to $200M
PayU Kenya shuts down after CBK revokes licence
PayU Kenya is officially out of the game. The Central Bank of Kenya (CBK) has revoked the company’s licence, just days after it went into liquidation, marking the end of the Prosus-owned payment firm’s short and bumpy ride in Kenya’s competitive eCommerce payment market.
The revocation, signed by CBK Governor Dr Kamau Thugge, took effect on October 13, 2025, officially ending PayU’s right to operate in the country. The company, a subsidiary of Netherlands-based PayU, had launched in 2019 through a partnership with African payments firm Cellulant. Back then, it promised to simplify online payments by connecting merchants to card payments, bank transfers, and mobile money wallets, all in one place.
But Kenya’s market isn’t easy to crack, especially when Safaricom’s M-PESA dominates over 90% of mobile transactions. Despite its global experience and deep pockets, PayU struggled to win over merchants and keep up with local players who already understood the terrain. By August 2025, things had hit a wall; PayU Kenya entered liquidation, citing low transaction volumes and high operational costs.
Soon after, the CBK confirmed that PayU had officially notified it of plans to shut down and surrender its licence. That’s when the hammer came down. The regulator’s move also fits into a broader tightening of oversight under Kenya’s National Payment System Regulations, which have made compliance tougher, especially for foreign firms unfamiliar with the country’s regulatory maze.
PayU’s exit trims Kenya’s list of active payment service providers, including names like Pesapal, Cellulant, Flutterwave, and Airtel Money. But more importantly, it highlights how difficult it can be for international fintechs to thrive in markets where mobile money isn’t just a service but the culture.
This VC fund isn’t after unicorns but returns
When most VCs talk about investing in Africa, they dream of finding the next Flutterwave or Chipper Cash, that billion-dollar story to brag about. But not Benoit Delestre. The Saviu Ventures co-founder has a different playbook, and he’s been clear about it from day one: “I need to return cash to my investors. So to bet on a unicorn in the next ten years, you will see that in the end, I won’t have any return.”
It’s a rare stance in a world obsessed with unicorns, but it makes sense when you look at how Saviu operates. The $40 million fund, launched in 2018, focuses mainly on Francophone Africa and has backed 21 startups so far, names like Lapaire, Kamtar, and Julaya. Instead of waiting a decade for massive exits that may never come, Saviu prefers smaller, quicker wins, with exits planned as early as three to five years in.
And the strategy is paying off. In just the past two years, the firm has pulled off four exits, a big deal in a region where liquidity events are still rare. One standout was its full exit from Lapaire, where it reportedly held a 22% stake. Another was a partial exit from logistics startup Kamtar after selling part of its position to Logidoo.
For Saviu, it all comes down to realism. The firm doesn’t expect 70% of its portfolio to fail, it aims for the opposite. That’s why it works closely with founders and keeps the idea of an exit front and centre from day one. As Papa Mady Sidibé, Head of Portfolio Management, puts it: “We don’t know who the buyer will be or when the exit will happen, but it’s something we all keep in view from the start.”
It’s a grounded approach in an industry often driven by hype. And maybe, just maybe, it’s the kind of discipline African venture capital needs right now. For more on Saviu Ventures’ investment philosophy and what it means for Africa’s startup scene, check out Chimgozirim’s latest for Techpoint Africa.
Moniepoint’s Series C round climbs to $200M
Moniepoint just bagged another $90 million in fresh funding — part of its ongoing Series C round — taking the total haul to a massive $200 million. The new raise comes barely a year after its first $110 million chunk in 2024, and it’s clear investors are betting big on the fintech’s next growth chapter.
The round was led by Development Partners International (DPI), with backing from heavyweights like the International Finance Corporation (IFC), Leapfrog Investments, Google’s Africa Investment Fund, and Visa. That lineup says a lot: global investors clearly see Moniepoint as more than just another Nigerian fintech story.
CEO Tosin Eniolorunda said the company’s not slowing down anytime soon. “We will not rest on our laurels,” he said, promising to put the new funds to work in scaling operations and deepening impact. Or in simpler terms: Moniepoint’s just getting started.
Visa’s presence in the round is particularly interesting. The payments giant has been quietly (and sometimes not so quietly) deepening its ties with Africa’s fintech leaders, from Interswitch to Paystack and Flutterwave, and even rolled out its own accelerator to support up-and-coming innovators across the continent.
While Moniepoint didn’t share its new valuation, insiders say the raise firmly keeps it above unicorn status, a position it first achieved last year. Not bad for a company that started as a software provider for Nigerian banks before reinventing itself as a household name through its vast agent network.
Today, Moniepoint claims over 10 million customers and processes more than $250 billion in transactions annually. It’s profitable too, though not without bumps. The company recently reported a $1.2 million loss, linked to early spending on its UK expansion. Still, with global investors lining up and a war chest of fresh cash, Moniepoint’s clearly gearing up for an even bolder play on the global stage.
In case you missed it
What I’m watching
Opportunities
- SeamlessHR is hiring a Brand Specialist. Apply here.
- PalmPay is recruiting a Talent Development Manager. Apply here.
- Andela is looking for an Advocacy and Event Community Manager. Apply here.
- Onchain Festival 2025, happening on October 30th at The Dome, Lekki, offers funding, knowledge, live product demos, powerful networking, and visible growth, where ideas find investors, creators meet collaborators, and innovation comes alive. Don’t miss out. Be part of the story; get your tickets now.
- TLP Advisory is surveying the listing potential of Nigerian venture-backed businesses on the NGX. Share your insights by completing this survey.
- Bolt is looking for a Senior General Manager in Nigeria and Ghana. Apply here.
- Standard Bank Group is looking for a Virtual Banker, Africa China Banking. Apply here.
- Fraud Analyst at Kuda Technologies. Apply here.
- Follow Techpoint Africa’s WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
- Join Africa’s top female founders, investors & innovators at AWFS 2025. Register here.
- Businessfront, the parent company of Techpoint Africa, is hiring a Sales Associate. Apply here.
- Businessfront, the parent company of Techpoint Africa, is looking for a Managing Editor (FMCG). Apply here.
- Flutterwave is hiring for several roles. Apply here.
- Paystack is recruiting a performance marketing specialist in Nigeria. Apply here.
- Paga is recruiting for several positions. Apply here.
- Moniepoint is hiring for several positions. Apply here.
- Are you building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
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Have a wonderful Wednesday!
Victoria Fakiya for Techpoint Africa
