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‘Insane’ — UK tech reacts to government moves that might hand UK startups contract to Barclays Bank

TechCrunch

First in line at this point in time — in a decision which is due in December — is banking giant Barclays. But the prospect of a profitable, global bank taking over the contract has been branded “insane” and “mad” by some key U.K. We can’t hand the support to the tech ecosystem to an incumbent bank!

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YC W22 batch nets 24 African startups, including 18 from Nigeria

TechCrunch

Abdigani Diriye, Khalid Keenan and Youcef Oudjidane, the other co-founders, have combined experience across engineering, investment banking and venture capital. Founders : Alphas Sinja, Boya’s chief executive officer, has over eight years of experience in the banking and finance sectors. Website : [link]. Founded in : 2020.

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Silicon Valley Bank: Here’s a timeline of the bank’s failure

TechCrunch

Writer’s note: We’re breaking from our usual formatting this week because there was a once-in-a-generation collapse of one of the biggest banks in the country. On Friday, I wrote about how Silicon Valley Bank has been closed by regulators , which are now in charge of the bank’s deposits. Some advised diversification.

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Kenya-based aquaculture tech Victory Farms nets $5M funding to expand into new markets

TechCrunch

I believed the platform I was running could be a lot bigger and scale a lot faster if we could connect more dots — and basically creating an end to end protein plant,” said Rehmann, who has worked for an investment bank and Microsoft. The company recorded a 130% CAGR between 2017 to 2021.

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Nigeria’s Indicina raises $3M to help businesses offer credit to their customers at scale

TechCrunch

For years, Africa’s credit infrastructure has lagged behind the rest of the world due to low credit coverage from its bureaus. Per a World Bank report , only 11% of Africa’s population have their credit information recorded by private credit bureaus. And for those who are banked, only 17% have accessed loans. 700 million (~$1.17

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Everything you need to get caught up on the SVB crisis

TechCrunch

On Friday, the Federal Deposit Insurance Corporation announced that it had taken over Silicon Valley Bank , and as we rushed to plan coverage, one of my colleagues succinctly described the situation: “This is historic s**t.” Bank runs are often ironic in that they can become self-fulfilling prophecies.)

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Banyan wants to unlock financing for a (more) sustainable future

TechCrunch

Old-school systems probably didn’t quite do it for old-school oil and gas investments, but they damn sure don’t cut it for newer, greener, more sustainable technologies. With it, banks, financiers and developers should be able to automate and track complex project finance transactions with a unified risk and data management system.