Nigerian banking-as-a-service platform Maplerad raises $6M, led by Peter Thiel’s Valar Ventures

Banking-as-a-service (BaaS) platforms have taken off rapidly across the fintech world over the last 18 months. By partnering with banks, these platforms allow entities from startups and fintechs to big corporations and banks to provide tailored banking services and experiences to their customers.
Fintechs offering BaaS services in U.S. and Europe, such as Unit, Rapyd and Treasury Prime, have achieved significant scale due to the developed banking systems they enjoy in their markets. However, their counterparts are trying to replicate this growth in less advanced banking systems like Africa, wh

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