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May 23, 2019
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Europol, DOJ announce the takedown of the GozNym banking malware

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Europol and the U.S. Justice Department, with help from six other countries, have disrupted and dismantled the GozNym malware, which they say stole more than $100 million from bank accounts since it first emerged.

In a press conference in The Hague, prosecutors said 10 defendants in five countries are accused of using the malware to steal money from more than 41,000 victims, mostly businesses and financial institutions.

Five defendants were arrested in Moldova, Bulgaria, Ukraine and Russia. The leader of the criminal network and his technical assistant are being prosecuted in Georgia.

The remaining five defendants, all Russian nationals, remain on the run and are wanted by the FBI, said prosecutors.

All were charged with conspiracy to commit computer fraud, conspiracy to commit wire and bank fraud, and conspiracy to commit money laundering. An eleventh member of the conspiracy, Krasimir Nikolov, was previously charged and extradited to the U.S. in 2016 and pleaded guilty in April in his role in the GozNym malware network.

The names, roles and locations of the indicted suspects. (Image: Justice Department/supplied)

The takedown was described as an “unprecedented international effort” by Scott Brady, U.S. attorney for Western Philadelphia — where a grand jury indicted the defendants — at the press conference announcing the charges.

GozNym is a powerful banking malware that spread across the U.S., Canada, Germany and Poland. The malware was developed from two existing malware families, both of which had their source code leaked years earlier: Nymaim, a two-stage malware dropper that infects computers through exploit kits from malicious links or emails; and Gozi, a web injection module used to hook into the web browser, allowing the attacker to steal login credentials and passwords.

The banking malware hit dozens of banks and credit unions since it first emerged in 2016.

Described as malware “as a service,” the leader of the network allegedly obtained the code for the two malware families and built GozNym, then recruited accomplices and advertised the new malware on Russian speaking forums. The malware used encryption and other obfuscation techniques to avoid detection by antivirus tools. Then, spammers are said to have sent hundreds of thousands of phishing emails to infect staff at businesses and banks. After the malware infected its victim computers, the malware would steal the passwords control of bank accounts, which the criminals would later log in and cash out.

Prosecutors said the malware network was hosted and operated through a bulletproof service, a domain and web hosting known for lax attitudes towards cybercrime and favored by criminals. Europol said the 2016 takedown of Avalanche, an infrastructure platform used by hundreds of criminals to host and run their malware campaigns.

Although the victims were not named, the Justice Department said at least 11 U.S. businesses — including a church, two law firms, and a casino — fell victim to the GozNym criminals.

Read more:
The hacker group behind the Triton malware strikes again
A new cryptocurrency mining malware uses leaked NSA exploits to spread across enterprise networks
Researchers find a new malware-friendly hosting site after a spike in attacks
Shellbot malware evolves to spread and shuts down other cryptominers
TrickBot malware attacks are ramping up ahead of Tax Day
New malware pulls its instructions from code hidden in memes posted to Twitter

News Source = techcrunch.com

Facebook hit with three privacy investigations in a single day

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Third time lucky — unless you’re Facebook.

The social networking giant was hit by a trio of investigations over its privacy practices Thursday following a particularly tumultuous month of security lapses and privacy violations — the latest in a string of embarrassing and damaging breaches at the company, much of its own doing.

First came a probe by the Irish data protection authority looking into the breach of “hundreds of millions” of Facebook and Instagram user passwords were stored in plaintext on its servers. The company will be investigated under the European GDPR data protection law, which could lead to fines of up to four percent of its global annual revenue for the infringing year — already some several billions of dollars.

Then, Canadian authorities confirmed that the beleaguered social networking giant broke its strict privacy laws, reports TechCrunch’s Natasha Lomas. The Office of the Privacy Commissioner of Canada said it plans to take Facebook ti federal court to force the company to correct its “serious contraventions” of Canadian privacy law. The findings came in the aftermath of the Cambridge Analytica scandal, which vacuumed up more than 600,000 profiles of Canadian citizens.

Lastly, and slightly closer to home, Facebook was hit by its third investigation — this time by New York attorney general Letitia James. The state chief law enforcer is looking into the recent “unauthorized collection” of 1.5 million user email addresses, which Facebook used for profile verification, but inadvertently also scraped their contact lists.

“It is time Facebook is held accountable for how it handles consumers’ personal information,” said James in a statement. “Facebook has repeatedly demonstrated a lack of respect for consumers’ information while at the same time profiting from mining that data.”

Facebook spokesperson Jay Nancarrow said the company is “in touch with the New York State attorney general’s office and are responding to their questions on this matter.”

News Source = techcrunch.com

Transportation Weekly: Waymo unleashes laser bear, Bird spreads its wings, Lyft tightens its belt

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Welcome back to Transportation Weekly; I’m your host Kirsten Korosec, senior transportation reporter at TechCrunch . This is the fifth edition of our newsletter and we love the reader feedback. Keep it coming.

Never heard of TechCrunch’s Transportation Weekly? Catch up here, here and here. As I’ve written before, consider this a soft launch. Follow me on Twitter @kirstenkorosec to ensure you see it each week. (An email subscription is coming). 

This week, we explore the world of light detection and ranging sensors known as LiDAR, young drivers, trouble in Barcelona, autonomous trucks in California, and China among other things.


ONM …

There are OEMs in the automotive world. And here, (wait for it) there are ONMs — original news manufacturers. (Cymbal clash!) This is where investigative reporting, enterprise pieces and analysis on transportation lives.

This week, we’re going to put our on analysis hats as we explore the world of LiDAR, a sensor that measures distance using laser light to generate highly accurate 3D maps of the world around the car. LiDAR is considered by most in the self-driving car industry (Tesla CEO Elon Musk being one exception) a key piece of technology required to safely deploy robotaxis and other autonomous vehicles.

There are A LOT of companies working on LiDAR. Some counts track upwards of 70. For years now, Velodyne has been the primary supplier of LiDAR sensors to companies developing autonomous vehicles. Waymo, back when it was just the Google self-driving project, even used Velodyne LiDAR sensors until 2012.

Dozens of startups have sprung up with Velodyne in its sights. But now Waymo has changed the storyline.

To catch you up: Waymo announced this week that it will start selling its custom LiDAR sensors — the technology that was at the heart of a trade secrets lawsuit last year against Uber.

Waymo’s entry into the market doesn’t necessarily upend other companies’ plans. Waymo is going to sell its short range LiDAR, called Laser Bear Honeycomb, to companies outside of self-driving cars. It will initially target robotics, security and agricultural technology.

It does put pressure on startups, particularly those with less capital or those targeting the same customer base. Pitchbook ran the numbers for us to determine where the LiDAR industry sits at the moment. There are two stories here: there are a handful of well capitalized startups and we may have reached “peak” LiDAR. Last year, there were 28 VC deals in LiDAR technology valued at $650 million. The number of deals was slightly lower than in 2017, but the values jumped by nearly 34 percent.

The top global VC-backed LiDAR technology companies (by post valuation) are Quanergy, Velodyne (although mostly corporate backed), Aurora (not self-driving company Aurora Innovation), Ouster, and DroneDeploy. The graphic below, also courtesy of Pitchbook, shows the latest figures as of January 31, 2019.

Dig In

Researchers discovered that two popular car alarm systems were vulnerable to a manipulated server-side API that could be abused to take control of an alarm system’s user account and their vehicle.

The companies — Russian alarm maker Pandora and California-based Viper (or Clifford in the U.K.) — have fixed the  security vulnerabilities that allowed researchers to remotely track, hijack and take control of vehicles with the alarms installed. What does this all mean?

Our in-house security expert and reporter Zack Whittaker digs in and gives us a reality check. Follow him @zackwhittaker.

Since the first widely publicized car hack in 2015 proved hijacking and controlling a car was possible, it’s opened the door to understanding the wider threat to modern vehicles.

Most modern cars have internet connectivity, making their baseline surface area of attack far greater than a car that doesn’t. But the effort that goes into remotely controlling a vehicle is difficult and convoluted, and the attack — often done by chaining together a set of different vulnerabilities — can take weeks or even longer to develop.

Keyfob or replay attacks are far more likely than say remote attacks over the internet or cell network. A keyfob sends an “unlock” signal, a device captures that signal and replays it. By replaying it you can unlock the car.

This latest car hack, featuring flawed third-party car alarms, was far easier to exploit, because the alarm systems added a weakness to the vehicles that weren’t there to begin with. Car makers, with vast financial and research resources, do a far greater job at securing their vehicle than the small companies that focus on functionality over security. For now, the bigger risk comes from third parties in the automobile space, but the car makers can’t afford to drop their game either.


A little bird …

We hear a lot. But we’re not selfish. Let’s share.

blinky-cat-bird

The California Department Motor Vehicles is the government body that regulates autonomous vehicle testing on public roads. The job of enforcement falls to the California Highway Patrol.

In an effort to gauge the need for more robust testing guidelines, the California Highway Patrol decided to hold an event at its headquarters in Sacramento. Eight companies working on autonomous trucking technology were invited. It was supposed to be a large event with local and state politicians in attendance. And it was supposed to validate autonomous trucking as an emerging industry.

There’s just one problem: only one AV trucking company is willing and able to complete this course. We hear that this AV startup actually already went ahead and completed the test course.

The California Highway Patrol has postponed event, for now, presumably until more companies can join.

Got a tip or overheard something in the world of transportation? Email me or send a direct message to @kirstenkorosec.


Deal of the week

Instead of highlighting one giant deal, let’s step back and take a broader view of mobility this week. The upshot: 2018 saw a decline in total investments in the sector and money moved away from ride-hailing and towards two-wheeled transportation.

According to new research from EY, mobility investments in 2018 reached $39.1 billion, down from $55.2 billion in the previous year. (The figures EY provided was through November 2018).

Ride-hailing companies raised $7.1 billion in 2018, a 73 percent decline from the previous year when $26.7 billion poured into this sector.

Investors, it seems, are shifting their focus to other business models, notably first and last-mile connectivity. EY estimates $7 billion was invested in two-wheeler mobility companies such as bike-sharing and electric scooters in 2018. The U.S. and China together have contributed to more than 80 percent of overall two-wheeler mobility investments this year alone, according to EY research shared with TechCrunch.

Other deals:


Snapshot

Let’s talk about Generation Z, that group of young people born 1996 to the present, and one startup that is focused on turning that demographic into car owners.

There’s lots of talk and hand wringing about young people choosing not to get a driver’s license, or not buying a vehicle. In the UK, for instance, about 42 percent of young drivers aged 17 to 24, hold a driver’s license. That’s about 2.7 million people, according to the National Travel Survey 2018 (NTS) of the UK government’s department of transport. An additional 2.2 million have a provisional or learner license. Combined, that amounts to about 13 percent of the car driving population of the UK.

In the UK, evidence suggests that a rise in motoring costs have discouraged young people from learning. And there lies one opportunity that a new startup called Driver1 is targeting.

Driver 1 is a car subscription service designed exclusively for first car drivers aged 17 to 24. The company has been in stealth mode for about a year and is just now launching.

“The young driver market is being underserved by the car industry, Driver1 founder Tim Hammond told TechCrunch. “And primarily it’s the financing that’s not available for that age group. It’s also something that’s not really affordable for any of the car subscription models like Fair.com and it’s not suitable for the OEM subscription services either financially or from an age perspective for young drivers.”

The company’s own research has found this group wants a newer car for 12 to 15 months.

“The car is the extension of their device,” Hammond said, noting these drivers don’t want the old junkers. “They want their iPhones and they want the car that goes with it.”

The company is working directly with leasing companies — not dealerships — to provide young drivers with 3 to 5-year-old cars that have lost 60 percent or so of their value. Driver1 is targeting under $120 a month for the customer and has a partnership with remarketing company Manheim, which is owned by Cox Automotive.

The startup is focused on the UK for now and has about 600 members who have reserved their cars for purchase. Driver1 is aiming to capture about 10 percent of the 1 million or so young people in the UK who pass their learners permit each year. The company plans it expand to France and other European countries in the fall.


Tiny but mighty micromobility

Bird Rocking Out GIF - Find & Share on GIPHY

Ca-caw, ca-caw! That’s the sound of Bird gearing up to launch Bird Platform in New Zealand, Canada and Latin America in the coming weeks. The platform is part of Bird’s mission to bring its scooters across the world “and empower local entrepreneurs in regions where we weren’t planning to launch to run their own electric-scooter sharing program with Bird’s tech and vehicles,” Bird CEO Travis VanderZanden told TechCrunch.

MRD’s two cents: Bird Platform seems like a way for Bird to make extra cash without having to do any of the work i.e. charging the vehicles, maintaining them and working with city officials to get permits. Smart!

Meanwhile, the dolla dolla bills keep pouring into micromobility. European electric scooter startup Voi Technology raised an additional $30 million in capital. That was on top of a $50 million Series A round just three months ago.

Oh, and because micromobility isn’t just for startups, Volkswagen decided to launch a kind of weird-looking electric scooter in Geneva. Because, why not?

Megan Rose Dickey

One more thing …

Lyft is trimming staff to prepare for its IPO. TechCrunch’s Ingrid Lunden learned that the company has laid off about 50 staff in its bike and scooter division. It appears most of these folks are people who joined the Lyft through its acquisition of  electric bike sharing startup Motivate a deal that closed about three months ago.


Notable reads

It’s probably not smart to suggest another newsletter, but if you haven’t checked out Michael Dunne’s  The Chinese Are Coming newsletter, you should. Dunne has a unique perspective on what’s happening in China, particularly as it related to automotive and newer forms of mobility such as ride-hailing. One interesting nugget from his latest edition: there are more than 20 other new electric vehicle makers in China.

“Most will fall away within the next 3 to 4 years as cash runs out,” Dunne predicts.

Other quotable notables:

Here’s a fun read for the week. TechCrunch’s Lucas Matney wrote about a YC Combinator startup Jetpack Aviation.The startup has launched pre-orders this week for the moonshot of moonshots, the Speeder, a personal vertical take-off and landing vehicle with a svelte concept design that looks straight out of Star Wars or Halo.


Testing and deployments

Spanish ride-hailing firm Cabify is back operating in Barcelona, Spain despite issuing dire warnings that new regulations issued by local government would crush its business and force it to fire thousands of drivers and leave forever. Turns out forever is one month.

The Catalan Generalitat issued a decree last month imposing a wait time of at least 15 minutes between a booking being made and a passenger being picked up. The policy was made to ensure taxis and ride-hailing firms are not competing for the same passengers, following a series of taxi strikes, which included scenes of violence. Our boots on the ground reporter Natasha Lomas has the whole story.

Sure, Barcelona is just one city. But what happened in Barcelona isn’t an isolated incident. The early struggles between conventional taxis and ride-hailing operations might be over, but that doesn’t mean the matter has been settled altogether.

And it’s not likely to go away. Once, robotaxis actually hit the road en masse — and yes, that’ll be awhile — these same struggles will pop up again.

Other deployments, or, er, retreats ….

Bike share pioneer Mobike retreats to China

On the autonomous vehicle front:

China Post, the official postal service of China, and delivery and logistics companies Deppon Express, will begin autonomous package delivery services in April. The delivery trucks will operate on autonomous driving technologies developed by FABU Technology, an AI company focused on intelligent driving systems.


On our radar

There is a lot of transportation-related activity this month. Come find me.

SXSW in Austin: TechCrunch will be at SXSW. And there is a lot of mobility action here. Aurora CEO and co-founder Chris Urmson was on stage Saturday morning with Malcolm Gladwell. Mayors from a number of U.S. cities as well as companies like Ford and Mercedes are on the scene. Here’s where I’ll be. 

  • 2 p.m. to 6:30 p.m. (local time) March 9 at the Empire Garage for the Smart Mobility Summit, an annual event put on by Wards Intelligence and C3 Group. The Autonocast, the podcast I co-host with Alex Roy and Ed Niedermeyer, will also be on hand.
  • 9:30 a.m. to 10:30 a.m. (local time) March 12 at the JW Marriott. The Autonocast and founding general partner of Trucks VC, Reilly Brennan will hold a SXSW podcast panel on automated vehicle terminology and other stuff.
  • 3:30 p.m (local time) over at the Hilton Austin Downtown, I’ll be moderating a panel Re-inventing the Wheel: Own, Rent, Share, Subscribe. Sherrill Kaplan with Zipcar, Amber Quist, with Silvercar and Russell Lemmer with Dealerware will join me on stage.
  • TechCrunch is also hosting a SXSW party from 1 pm to 4 pm Sunday, March 10, 615 Red River St., that will feature musical guest Elderbrook. RSVP here

Nvidia GTC

TechCrunch (including yours truly) will also be at Nvidia’s annual GPU Technology Conference from March 18 to 21 in San Jose.

Self Racing Cars

The annual Self Racing Car event will be held March 23 and March 24 at Thunderhill Raceway near Willows, California.

There is still room for participants to test or demo their autonomous vehicles, drive train innovation, simulation, software, teleoperation, and sensors. Hobbyists are welcome. Sign up to participate or drop them a line at contact@selfracingcars.com.

Thanks for reading. There might be content you like or something you hate. Feel free to reach out to me at kirsten.korosec@techcrunch.com to share those thoughts, opinions or tips. 

Nos vemos la próxima vez.

News Source = techcrunch.com

Africa Roundup: Kenya’s BRCK acquires EveryLayer, Nigeria’s TeamApt eyes global expansion

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Kenyan  communications hardware company BRCK acquired the assets of Nairobi based internet provider Surf and its U.S. parent EveryLayer in a purchase deal of an undisclosed amount in February.

Based in Nairobi, Surf is a hotspot service provider aimed at offering affordable internet to lower income segments. BRCK is a five year old venture that pairs its rugged WiFi routers to internet service packages designed to bring people online in frontier and emerging markets.

With the acquisition, BRCK gains the assets of San Francisco based EveryLayer and its Surf subsidiary, including 1200 hotspots and 200,000 active customers across 22 cities in Kenya, according to BRCK CEO and founder Erik Hersman.

Backed by $10 million from investors including Steve Case’s Revolution  VC fund, BRCK plans to use its new resources to expand to an undisclosed East African country and is eyeing options abroad. “We’re looking at Indonesia and starting our pilot in Mexico next month,” Hersman told TechCrunch on a call from Kigali.

BRCK built its platform around providing internet solutions primarily in Kenya and Rwanda. In 2017, the company rolled out its SupaBRCK product and paired it to its Moja service, which offers free public WiFi—internet, music, and entertainment—subsidized by commercial partners.

There’s not a requirement to click on or watch advertisements to gain Moja access, though users can gain faster speeds if they “interact with one of our business partners…by doing a survey, downloading an app, or watching an ad,” said Hersman.

In 2018, BRCK began offering SupaBRCK devices to drivers of Nairobi’s Matatu buses for Kenyan commuters to access Moja. As of January Moja traffic is racking up 300,000 active uniques and 3.7 million impressions per month, according to Hersman. There’s more on the deal and Africa’s internet connectivity equation in this TechCrunch exclusive on the acquisition.

Nigerian fintech startup TeamApt raised $5.5 million in capital in a Series A round led by Quantum Capital Partners.

The Lagos based firm will use the funds to expand its white label digital finance products and pivot to consumer finance with the launch of its AptPay banking app.

Founded by Tosin Eniolorunda, TeamApt supplies financial and payment solutions to Nigeria’s largest commercial banks—including Zenith, UBA, and ALAT.

For Eniolorunda, launching the fintech startup means competing with his former employer, the later stage Nigerian tech company Interswitch.

The TeamApt founder is open about his company going head to head not only with Interswitch, but other Nigerian payment gateway startups, including Paystack and Flutterwave, he told TechCrunch in this exclusive.

TeamApt, whose name is derivative of aptitude, bootstrapped its way to its Series A by generating revenue project to project working for Nigerian companies, according to its CEO.

The venture now has a developer team of 40 in Lagos, according to Eniolorunda, who spent 6 years at Interswitch as a developer and engineer himself, before founding the startup in 2015 .

“The 40 are out of a total staff of about 72 so the firm is a major engineering company. We build all the IP and of course use open source tools,” he said.

TeamApt’s commercial bank product offerings include Moneytor— a digital banking service for financial institutions to track transactions with web and mobile interfaces—and Monnify, an enterprise software suite for small business management.

On performance, TeamApt claims 26 African bank clients and processes $160 million in monthly transactions, according to company data. Though it does not produce public financial results, TeamApt claimed revenue growth of 4,500 percent over a three year period.

Quantum Capital Partners, a Lagos based investment firm founded by Nigerian banker Jim Ovia, confirmed it verified TeamApt’s numbers.

“Our CFO sat with them for about two weeks,” Elaine Delaney told TechCrunch.

TeamApt’s results and the startup’s global value proposition factored into the fund’s decision to serve as sole-investor in the $5.5 million round.

Delaney will take a board seat with TeamApt “as a supportive investor,” she said.

TeamApt plans to develop more business and consumer based offerings. “We’re beginning to pilot into much more merchant and consumer facing products where we’re building payment infrastructure to connect these banks to merchants and businesses,” CEO Tosin Eniolorunda said.

Part of this includes the launch of AptPay, which Eniolorunda describes as “a push payment, payment infrastructure” to “centralize…all services currently used on banking mobile apps.”

The company recently received its license from the Nigerian Central Bank to operate as a payment switch in the country.

On new markets,  TeamApt is looking to Canada and Europe with a specific expansion announcement expected by fourth quarter 2019, according to Eniolorunda

TeamApt’s CEO is open about the company’s future intent to list. “The project code name for the recent funding was NASDAQ. We’re clear about becoming a public company,” said Eniolorunda.

More Africa Related Stories @TechCrunch

African Tech Around The Net    

News Source = techcrunch.com

Nigerian fintech firm TeamApt raises $5M, eyes global expansion

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Nigerian fintech startup TeamApt has raised $5.5 million in capital in a Series A round led by Quantum Capital Partners.

The Lagos based firm will use the funds to expand its white label digital finance products and pivot to consumer finance with the launch of its AptPay banking app.

Founded by Tosin Eniolorunda, TeamApt supplies financial and payment solutions to Nigeria’s largest commercial banks — including Zenith, UBA, and ALAT.

For Eniolorunda, launching the fintech startup means competing with his former employer, the later stage Nigerian tech company Interswitch.

The TeamApt founder is open about his company going head to head not only with his former employer, but other Nigerian payment gateway startups.

“Yes, we are in competition with Interswitch,” Eniolorunda said. But he also said that the Nigerian fintech startups Paystack and Flutterwave—both of which facilitate payments for businesses— are competitors as well.

TeamApt, whose name is derivative of aptitude, bootstrapped its way to its Series A by generating revenue project to project working for Nigerian companies, according to CEO Eniolorunda.

“To start, we closed a deal with Computer Warehouse Group to build a payment solution for them and that’s how we started bootstrapping,” he said. A project soon followed for Fidelity Bank Nigeria.

TeamApt now has a developer team of 40 in Lagos, according to Eniolorunda, who spent 6 years at Interswitch as developer and engineer himself, before founding the startup in 2015 .

“The 40 are out of a total staff of about 72 so the firm is a major engineering company. We build all the IP and of course use open source tools,” he said.

TeamApt’s commercial bank product offerings include Moneytor— a digital banking service for financial institutions to track transactions with web and mobile interfaces—and Monnify, an enterprise software suite for small business management.

TeamApt worked with Sterling Bank Nigeria to develop its Sterling Onepay mobile payment app and POS merchant online platform, Sterling Bank’s Chief Information Officer Moronfolu Fasinro told TechCrunch.

On performance, TeamApt claims 26 African bank clients and processes $160 million in monthly transactions, according to company data. Though it does not produce public financial results, TeamApt claimed revenue growth of 4,500 percent over a three year period.

Quantum Capital Partners, a Lagos based investment firm founded by Nigerian banker Jim Ovia, confirmed it verified TeamApt’s numbers.

“Our CFO sat with them for about two weeks,” Elaine Delaney said.

TeamApt’s results and the startup’s global value proposition factored into the fund’s decision to serve as sole-investor in the $5.5 million round.

“The problem that they’re solving might be African but the technology is universal. ‘Can it be applied to any other market?’ of course it can,” said Delaney.

Delaney will take a board seat with TeamApt “as a supportive investor,” she said.

TeamApt plans to develop more business and consumer based offerings. “We’re beginning to pilot into much more merchant and consume facing products where we’re building payment infrastructure to connect these banks to merchants and businesses,” CEO Tosin Eniolorunda said.

Part of this includes the launch of AptPay, which Eniolorunda describes as “a push payment, payment infrastructure” to “centralize…all services currently used on banking mobile apps.”

The company recently received its license from the Nigerian Central Bank to operate as a payment switch in the country.

On new markets, “Nigeria comes first. But we’re also looking at some parts of Europe. Canada is also hot on list,” said Eniolorunda.  He wouldn’t specific a country but said to look for a TeamApt expansion announcement by fourth quarter 2019.

TeamApt joins several fintech firms in Africa that announced significant rounds, expansion, or partnerships over the last year.  As covered by TechCrunch, in September 2018, Nigeria’s Paga raised $10 million and announced possible expansion in Ethiopia, Asia, and Mexico. Kenyan payment company Cellulant raised $53 million in 2018, targeted to boost its presence across Africa. And in January, Flutterwave partnered with Visa to launch the GetBarter global payment product.

The fintech space has also been the source of speculation regarding the continent’s first tech IPO on a major exchange, including Interswitch’s much anticipated and delayed public offering.

TeamApt’s CEO is open about the company’s future intent to list. “The project code name for the recent funding was NASDAQ. We’re clear about becoming a public company,” said Eniolorunda.

News Source = techcrunch.com

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