Brex targets start-up loan market with new $150 million debt service

While several lenders have historically offered loan services to start-ups, Brex is looking to take advantage of the increase in venture debt financing with a $150 million fund. The newly launched Brex Venture Debt will look to compete with the likes of Silicon Valley Bank, American Express and Bank of America Corp. to offer early stage venture-backed businesses an alternative financing option.

Brex, which ranked No. 6 on this year’s CNBC Disruptor 50 list, offers start-ups high credit lines and software to manage their finances and credit lines. While its main product – an unsecured, high-limit charge card for start-ups

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Insuretech startup, aYo partners MTN to provide free insurance to Ivorians through mobile recharge

African insuretech startup, aYo has partnered with African telecom giant, MTN, to launch two services aimed at providing free health and life insurance covers to millions of people in Ivory Coast through mobile recharge.

The services are aYo Recharge and aYo Kash. aYo Recharge would reward MTN MoMo users with free accident hospitalisation cover and life cover. Whenever a user buys airtime through their MoMo wallets, they get 8 times that amount as accident cover and 12 times that amount as life cover.

aYo Kash offers cover for illness, accident and life. Each time a user sends money, pays a

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