Fintech PR
Zone raises $8.5m in Seed Funding to Scale its Decentralized Payment Infrastructure
International VC investment firms Flourish Ventures and TLcom Capital co-lead the funding round of Africa’s first regulated layer-1 blockchain for payments
LAGOS, Nigeria, March 18, 2024 /PRNewswire/ — Zone, Africa’s fast-growing payment infrastructure company (the “Company”), today announced that it has raised $8.5 million in an oversubscribed seed funding round led by reputable VC firms Flourish Ventures and TLcom Capital.
The deal marks a pivotal moment for Zone as the company continues on its journey to build a Blockchain-based decentralized payment infrastructure for financial services providers across the continent and beyond. By harnessing the power of blockchain, Zone’s blockchain network delivers reliable, frictionless and universally interoperable payment experiences at scale to financial service providers and their customers. Zone has a unique position as Africa’s first regulated blockchain network for payments and has already signed up over 15 of Africa’s largest banks and fintech companies.
The new funding will enable Zone to further expand the coverage of its network domestically and connect more banks and financial services companies. A significant portion of the proceeds will also be allocated to conducting a comprehensive pilot programme to test the Company’s cross-border capabilities, scheduled for 2025. A key priority of the Company is to ensure that it is well-prepared to extend its footprint across Africa in order to support Intra-African and international payments which will bring the company closer to its vision of becoming a global payment network.
Flourish Ventures, an early-stage global fintech venture firm with purpose will provide Zone with a global perspective, networks of industry influencers and extensive Africa fintech expertise, paving the way for expansion into new markets. UK-based TLcom Capital provides essential local credibility and understanding of the African tech space while leveraging its existing relationships with key decision-makers In Nigeria to establish a strong foundation for Zone within its home market.
Other investors in this round include international blockchain-focused VC firms Digital Currency Group (DCG), VKAV (Verod-Kepple Africa Ventures) and Alter Global, each bringing niche sector expertise and credibility. These investments at a time when start-up funding has dried out are a testament to investor confidence in Zone’s mission to connect every monetary store of value and establish a regulated and decentralized global payment infrastructure.
Additionally, the endorsement and investment from Endeavor Catalyst reinforces Zone’s status as a frontrunner in Africa’s fintech revolution, highlighting the company’s alignment with the entrepreneurial spirit that drives technological transformation and economic progress.
Commenting on the funding round, Obi Emetarom, CEO and co-founder of Zone, said:
“The participation of high-quality investors despite the funding drought and the fact that we had more interested investors than we needed, is a sign of trust in the Zone brand and investor excitement about the opportunity to redefine payment infrastructure in Africa. As we step into this new phase at Zone, we are re-energized and our commitment to transforming Africa’s payment infrastructure is renewed. Our new investors and existing shareholders including CCA, Lateral Capital, Constant Ventures and V8 bring more than just financial backing as their global scope and deep expertise make them invaluable partners for us. With their support, we are poised to accelerate our mission to connect every monetary store of value and enable real-time payments within and across geographical borders. Zone is committed to staying at the forefront of technological advancement and industry evolution in financial services.”
Ameya Upadhyay, Partner at Flourish Ventures, said: “For the first time in Africa, Zone’s technology enables direct communication between participants in the payment ecosystem. We believe this is a fundamental leap that will allow customers to experience a completely new standard of reliability, speed and cost efficiency at the ATM, at POS machines and online. We are excited by the potential for Zone’s technology to be replicated across borders to advance payment innovation globally. The fact that Zone is led by Obi and Wale who are veterans of the banking industry reinforces our conviction that Zone can fulfil our shared goal of moving the entire sector forward.”
Ido Sum, Partner at TLcom Capital, said: “We are thrilled to partner with Obi Emetarom and Wale Onawunmi, co-founders of Zone, on their journey to build a category-defining fintech company that is using advanced blockchain technology to solve a critical payments system challenge. The Company’s innovative infrastructure has the potential to deliver tremendous value to financial institutions, enhancing the overall payments experience for end-users and driving down costs for hundreds of millions of consumers and businesses that rely on digital payments in Africa every day. We have no doubt that Zone, led by Obi and Wale, is on its way to transform into a global company over time, and TLcom is excited to bring its complementary experience, networks and expertise to support the Company in fulfilling its impressive scale ambitions.”
About Zone:
Zone is a regulated blockchain network that enables payments and acceptance of digital currencies. Its Layer-1 Blockchain network digitises Fiat payments and enables the transition to digital currencies while connecting previously excluded financial institutions into an all-inclusive payment ecosystem. Zone, Africa’s first decentralised payment network, allows participating institutions to connect directly with each other and perform payment transactions without an intermediary while completely automating settlement, reconciliation, and dispute management. The Company is working with the brightest minds on the continent to lay the foundation for the decentralised future of financial services. Its mission is to connect every monetary store of value by harnessing the power of blockchain.
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Fintech PR
ADFW Unveils Full Agenda for 2024 Edition, One of the Most Impactful Financial Gatherings of the Year
ABU DHABI, UAE, Nov. 27, 2024 /PRNewswire/ — Abu Dhabi Finance Week (ADFW) has unveiled a compelling agenda for this year’s event that will take place from 9th to 12th December 2024. ADFW 2024 – ADGM’s flagship event with ADQ as its headline partner – is one of the most anticipated financial gatherings this year, with a lineup of industry-shaping events, influential speakers, and strategic forums that will explore the theme of ‘Welcome to the Capital of Capital.’
This third edition is in keeping with ADFW’s tradition of convening some of the most renowned global financial leaders, investors, policymakers, and thought leaders to address and analyse topics such as economic, human, cultural, environmental and technological capital, that make Abu Dhabi the ‘Capital of Capital’. The agenda for 2024 includes over 60 main and side events, more than 350 thematic sessions and approximately 600+ speakers. The event expects a gathering of over 20,000 attendees from around the world, representing over USD 30 trillion in managed assets.
Commenting on ADFW’s exceptional agenda, His Excellency Ahmed Jasim Al Zaabi, Chairman of ADGM and ADDED said, “Abu Dhabi Finance Week has firmly established itself as a global platform that attracts the most influential professionals in the finance industry from across the world. This year’s agenda for ADFW is a testament to Abu Dhabi’s position as a leading international financial hub, where innovation and collaboration drive progress for the Falcon Economy. ADFW continues to create unparalleled opportunities for meaningful dialogue, shaping strategies that strengthen resilience and growth in today’s evolving economic landscape, welcoming them to the ‘Capital of Capital’.”
Key forums, including the Abu Dhabi Economic Forum, Asset Abu Dhabi, RESOLVE 2024, Fintech Abu Dhabi, and the Abu Dhabi Sustainable Finance Forum (ADSFF) will return this year. New events for 2024 include the UBS Investment Forum, the China UAE Investment Summit with HSBC, the Islamic Finance Summit, the Spear’s Private Wealth Summit, and the Abu Dhabi Capital Markets Showcase.
Day 1: Opening Ceremony and Abu Dhabi Economic Forum
The official opening ceremony is on 9th December in the presence of esteemed members of Abu Dhabi’s leadership, heads of leading global investment and financial firms and other VIPs from the financial industry.
Abu Dhabi Economic Forum, a high-level leadership gathering, will feature in-depth discussions on the current state of and prospects for the Falcon Economy. It will bring together senior members of the Abu Dhabi government and prominent figures from the private sector, representing key industries. Speakers include the CEOs of Blackrock, Morgan Stanley, HSBC, Citigroup, BNY, Lunate, First Abu Dhabi Bank (FAB) and Aldar. ADEF Private Leadership Forum, Abu Dhabi Capital Markets Forum, the UBS Investor Forum and the prestigious ADFW Gala Dinner are a few of the major sub-events scheduled for the day.
Day 2: Asset Abu Dhabi and RESOLVE
The second day starts with Asset Abu Dhabi in association with ADCB, Mubadala and PGIM Global Asset Management. Bringing together asset allocators, asset managers, investment bankers, venture capitalists, private equities, family offices and other institutional investors, collectively managing over USD 30 trillion in assets, the event will see industry titans such as Ray Dalio, Robert Smith – Founder, Chairman & CEO at Vista Equity Partners, Aron Landy – CEO at Brevan Howard, and Bill Huffman – CEO at Nuveen take to the stage.
RESOLVE will also be held on this day, in collaboration with the Judicial Department. Under the theme ‘Resilience’, the event is set to host impactful conversations among key stakeholders from the global dispute resolution community and leaders from government, industry, and academia.
Day 3: Fintech Abu Dhabi and Global Financial Regulators Summit
Fintech Abu Dhabi, the Middle East’s largest fintech festival, will spotlight innovations in AI, digital security, and blockchain technology. Breakout events like Blockchain Abu Dhabi, RISK 4.0 Forum, Islamic Finance Summit and the AI Abu Dhabi Forum will showcase the transformative potential of emerging technologies. Leading voices, including Jeremy Allaire – CEO and Founder of Circle, Richard Teng – CEO of Binance, and Caroline Pham – U.S. CFTC Commissioner, will discuss the evolving landscape of financial technology.
The Global Financial Regulator Summit also returns as a closed-door gathering of international senior regulatory bodies and representatives from the MENA region, the European Union, the UK, Asia and the USA to discuss the approach to the opportunities and challenges presented by the rise of AI.
Day 4: ADSFF
Exactly one year after hosting its last edition at COP28, the Abu Dhabi Sustainable Finance Forum (ADSFF) will be held on the concluding day of ADFW to conduct discussions on sustainable finance, impact investing, and net-zero commitments. It will bring together impactful voices like H.E. Carme Artigas Brugal, Co-Chair of the AI Advisory Body at the United Nations, Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Jonathan Dean of AXA IM and H.E. Majid Al Suwaidi, CEO of Alterra underscoring Abu Dhabi’s commitment to sustainability and green finance.
Curated side events include ‘Women in Finance’ and the ADFW Venture Park.
For more information on the agenda please visit What’s Happening in ADFW | Agenda – Abu Dhabi Finance Week
Register for Abu Dhabi Finance Week 2024 at Get your ticket – Abu Dhabi Finance Week
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NEW DELHI, Nov. 27, 2024 /PRNewswire/ — Comviva, a global leader in digital transformation solutions, specializing in customer experience management, data monetization, and mobile financial services, today announced the appointment of Raja Mansukhani as its Chief Strategy, Technology, and Transformation Officer. In this key role, Raja will drive the execution of strategic initiatives that are central to Comviva’s transformation and the realization of its ambitious Comviva 2.0 vision.
Raja brings over two decades of leadership experience across IT, telecommunications, fintech, and digital platforms. He has led organizations through large-scale business and operational transformations, market expansions, and the launch of innovative products and technologies in diverse global markets. Prior to joining Comviva, Raja was the CEO of a Digital Platforms company within the Axiata Group.
Welcoming Raja to the Comviva leadership team, Rajesh Chandiramani, Chief Executive Officer at Comviva, said, “We are thrilled to have Raja on board during this transformative phase for Comviva. His deep industry knowledge and proven ability to drive growth and innovation align perfectly with our vision for Comviva 2.0. Raja’s leadership will be instrumental in shaping our strategic direction and technology roadmap, as we continue to deliver cutting-edge digital solutions for our customers worldwide.”
Raja Mansukhani shared his enthusiasm about joining the Comviva team, stating, “I am honored to be part of Comviva, a company renowned for its pioneering solutions and steadfast commitment to a customer-centric approach. As the industry undergoes rapid transformation, this is an exciting opportunity to lead strategic initiatives alongside a talented team that will unlock new opportunities and accelerate Comviva’s growth while delivering differentiation and significant value creation for our customers. As a team, we will drive innovation, foster value-driven transformation, and work towards achieving the bold objectives of Comviva 2.0.”
With Raja’s appointment, Comviva reaffirms its commitment to delivering innovative, customer-first solutions while accelerating its transformation efforts to stay ahead in the rapidly evolving digital economy.
As part of its strategic growth, Comviva is enhancing its capabilities in digital commerce, data monetization, and customer experience solutions. By focusing on partnerships with technology leaders and hyperscalers, and advancing operational excellence across MarTech, FinTech, DigiTech, and RevTech, Comviva is positioning itself as a catalyst for innovation. These initiatives align with the company’s vision to lead the digital transformation journey, empowering businesses to unlock new revenue streams and deliver exceptional customer value.
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Fintech PR
LONGi and IUCN jointly release the Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic
XI’AN, China, Nov. 27, 2024 /PRNewswire/ — From November 11th to 22nd, the 29th Conference of the Parties (COP29) to the United Nations Framework Convention on Climate Change took place in Baku, the capital of Azerbaijan. LONGi, in conjunction with the International Union for Conservation of Nature (IUCN), released the “Initiative of Advancing Climate Action and Biodiversity Conservation with Photovoltaic”. LONGi’s Vice President and Chief Sustainability Officer Zhang Haimeng, IUCN Deputy Director General Stewart Maginnis, and Ant Group Director of Sustainable Development Wang Xiaoying attended and witnessed the event.
The United Nations Environment Programme (UNEP) released a report highlighting that climate change, biodiversity loss, and environmental pollution are the three major global environmental challenges. As a leading global solar energy company, LONGi recognizes that innovation and development of renewable energy technologies such as solar power are not only crucial for reducing greenhouse gas emissions but also vital for the protection of ecosystems and biodiversity. After releasing Climate Action White Papers at COP conference for three consecutive years starting in 2021, LONGi, in collaboration with IUCN at COP29 this year, has taken corporate climate action to a new level by integrating it with biodiversity conservation efforts.
The initiative includes calls for companies to develop and implement climate and biodiversity protection measures in accordance with international multilateral environmental agreements (MEAs) and global standards, including the Convention on Biological Diversity, the United Nations Convention to Combat Desertification, the United Nations Framework Convention on Climate Change, and the Kunming-Montreal Global Biodiversity Framework. It also encourages following global best practices to ensure that all activities meet global climate and biodiversity protection requirements, adopting environmentally friendly methods in the design, construction, and operation of renewable energy projects, improving energy efficiency, and increasing the proportion of clean energy use. The initiative advocates for companies to establish a corporate culture for biodiversity conservation and to promote international cooperation, sharing, and dissemination of global best practices through partnerships.
IUCN Deputy Director General Stewart Maginnis stated in his speech that LONGi, as a leading company in the photovoltaic industry, is actively responding to the IUCN’s guidelines on the biodiversity impact of solar energy projects by releasing this initiative. We believe that the initiative can inspire broader industry and societal actions and will encourage more companies and organizations to participate in the development and application of renewable energy while also taking measures to mitigate their impact on the natural environment.
As biodiversity becomes an increasingly global concern, LONGi has been continuously focusing on how to use photovoltaic technology to promote biodiversity conservation since the 15th Conference of the Parties (COP15) to the United Nations Convention on Biological Diversity, which began in Kunming, Yunnan in 2021, and has actively put this into practice. During the COP28 conference, LONGi announced its “Zero-Carbon Life Plan for Pandas”, donating a distributed photovoltaic power station to the Qinling Giant Panda Conservation and Breeding Research Base in Foping, adopting a Qinling giant panda for life, and providing photovoltaic products and off-grid technology to support wildlife monitoring equipment in the protected area. Earlier, in 2022, LONGi donated photovoltaic modules to the Acquila Wildlife Conservation Base in South Africa, which not only provided daily electricity for the reserve but also clean water sources for wildlife, giving Acquila more possibilities for sustainable ecological operations.
In Duyun City, Guizhou Province, China, a 500kW “Solar +Tea Complementary Project” was established using LONGi photovoltaic products, exploring the application scenarios of photovoltaic technology in traditional tea gardens; the “Solar +Tea Complementary Project” model was also replicated in Pu’er City, Yunnan Province. In the world-famous Kubuqi Desert in Inner Mongolia, two photovoltaic power stations of 336kW and 338kW were built, with LONGi’s products helping arid areas achieve green ecological development with “generating electricity on the panels, planting under the panels, and breeding between the panels.”
Zhang Haimeng pointed out that as a leading global nature conservation organization, IUCN possesses extensive professional knowledge, a broad international network, and successful experiences on a global scale. This collaboration between LONGi and IUCN to release the biodiversity conservation initiative further refines and accelerates LONGi’s biodiversity practices. Through joint actions with IUCN, LONGi expects to more effectively promote global partners, policymakers, and the public’s understanding of the importance of biodiversity conservation, and to learn from excellent biodiversity protection projects such as Ant Group’s “Ant Forest,” actively taking effective measures to address global ecological challenges together. At the same time, as a leading global provider of green energy solutions, the photovoltaic technology and solutions that LONGi possesses can provide effective support for IUCN’s conservation actions.
“All things grow, and life is continuous. We call on humanity to join hands in protecting the Earth’s biodiversity and achieving harmonious coexistence between humans and nature. This is not just an initiative, but a call to action, looking forward to everyone contributing to the protection of biodiversity and the maintenance of ecological balance,” said Zhang Haimeng.
About LONGi
Founded in 2000, LONGi is committed to being the world’s leading solar technology company, focusing on customer-driven value creation for full scenario energy transformation.
Under its mission of ‘making the best of solar energy to build a green world’, LONGi has dedicated itself to technology innovation and established five business sectors, covering mono silicon wafers cells and modules, commercial & industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. www.longi.com
View original content:https://www.prnewswire.co.uk/news-releases/longi-and-iucn-jointly-release-the-initiative-of-advancing-climate-action-and-biodiversity-conservation-with-photovoltaic-302317351.html
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