Profitable African fintech PalmPay is in talks to raise as much as $100M

PalmPay, an African digital bank fintech, is in talks to raise between $50 million and $100 million in a Series B round, according to multiple sources familiar with the matter.

It’s unclear what valuation it hopes to get, but its last round, in 2021, ranked it among the continent’s most valuable startups, estimated just shy of unicorn status.

While PalmPay declined to comment on fundraising specifics, a spokesperson said the 6-year-old fintech is “in a strong financial position and exploring growth opportunities.”

The company,…