Happy Pay, a South African buy-now-pay-later (BNPL) startup, has raised a $5 million seed round to scale what it describes as Africa’s first ad-supported payments network.  The funding will be used to deepen merchant partnerships, expand distribution across online and offline channels, and further develop its AI-powered recommendations and advertising engine. Partech led the round

This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs, financial institutions, companies, and governments. A new edition drops every Monday.   Nigerian artists have earned over ₦143 billion ($105.62 million) from Spotify since 2023, with annual revenues rising over the period. But that growth is beginning