South-African startup Scale raises $700,000 to help fintechs issue customisable cards
- Scale raises $700,000 in pre-seed funding.
- 54 Collective and First Circle Capital lead the funding round.
- Expansion plans include Kenya, Zambia, and Cote d’Ivoire.
The successful funding round for Scale indicates a growing confidence in the African fintech sector, particularly in card issuance services. However, the challenges posed by chargeback fraud and the costs associated with multi-layered partnerships highlight the need for innovative solutions. Scale's strategic expansion into high-potential markets like Cote d’Ivoire could set a precedent for other fintechs navigating similar challenges.
