Companies · Fintech
Africa · Fintech
Diligence memoA one-page analyst read on Mines — recommendation, valuation, rhythm, risks.→Mines looks over-valued against its niche peers and is dormant on financing cadence.
Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the fintech sector profile.
Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.
Mines is one of 1063 Fintech companies tracked from Africa. By capital raised it ranks among the largest (ahead of 90% of sector peers), and among the largest by modeled valuation est..
Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.
Nigerian fintech startup Mines has secured a US$13 million Series A funding round as it aims to expand into other emerging markets.
Nigerian fintech startup Mines has secured a US$13 million Series A funding round as it aims to expand into other emerging markets.
As reported in public records reported — not modeled.
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.
Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.
Round size and date are reported; the stage label is inferred from round size (latest is Series A — a $4.0M–$15M round). Valuation is modeled from stage benchmarks scaled by the fintech sector profile. Directional, not a quoted figure.
Not enough modeled valuation points to chart a trajectory.
Benchmarked against 1063 companies in Fintech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Raised more than 90% of sector peers (real $). Modeled value above 95% of peers (estimate).
A tighter cohort than the sector chart above — only companies at the same stage (Series A) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #2 of 13.
| Company | Stage | Raised · real | Value · est | vs peer med. |
|---|---|---|---|---|
| Zoona | Series A | $15.0M | $430.1M | 2.50× |
| Mines this company | Series A | $13.0M | $372.8M | 2.17× |
| First Boston Bridge Lending Pool II, LLC | Series A | $12.0M | $344.1M | 2.00× |
| Paystack, Inc. | Series A | $10.2M | $292.6M | 1.70× |
| Mutual Trading Co., Inc. | Series A | $22.2M | $234.1M | 1.36× |
| Flex Co | Series A | $6.3M | $180.5M | 1.05× |
| SG Credit Partners, Inc. | Series A | $6.0M | $172.1M | 1.00× |
| Cloud Lending, Inc. | Series A | $6.5M | $172.1M | 1.00× |
| Bankruptcy Management Solutions, Inc. | Series A | $5.8M | $136.6M | 0.79× |
| Amino Payments, Inc. | Series A | $6.3M | $129.0M | 0.75× |
| Service Trading Company, Inc. | Series A | $10.2M | $103.5M | 0.60× |
| Runa, LLC | Series A | $12.1M | $51.9M | 0.30× |
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| Series A | $13.0M | 2018-08-13 | $59.1M | $372.8M | 45% |
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
Mines is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.
| Company | Sector | Stage | Raised · real | Value · est | Why similar |
|---|---|---|---|---|---|
| Money Fellows | Fintech | Series A | $13.0M | $50.2M | same sector · same stage |
| Paga | Fintech | Series A | $13.0M | $372.8M | same sector · same stage |
| Lending Market Technology Inc. | Fintech | Series A | $12.9M | $44.3M | same sector · same stage |
| Neural Payments, Inc. | Fintech | Series A | $13.2M | $107.0M | same sector · same stage |
| Dopay | Fintech | Series A | $13.5M | $72.6M | same sector · same stage |
| Glint Pay Ltd | Fintech | Series A | $13.6M | $3.0M | same sector · same stage |
| Runa, LLC | Fintech | Series A | $12.1M | $51.9M | same sector · same stage |
| Imprint Payments, Inc. | Fintech | Series A | $14.0M | $324.0M | same sector · same stage |
See where Mines sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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