Diligence memo · auto-generated · as of July 2, 2026
Mines
Mines looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
Mines operates in Fintech, based in Africa. Nigerian fintech startup Mines has secured a US$13 million Series A funding round as it aims to expand into other emerging markets.
Sub-sector tags: fintech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Mines has raised $13M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series A (a $4.0M–$15M round).
Largest single filing: $13M on 2018-08-13.
Most recent recorded round closed around 2018-08-13.
Valuation (modeled)modeled
Provath models Mines at approximately $373M (range $17M–$2.0B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 2.17× the median modeled value of Series A Fintech companies in 2016–2018 (13 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 7.9 yr ago; this sector typically re-raises about every 12 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 90% of Fintech peers (1063 compared).
Modeled value ranks above 95% of those peers.
Closest niche peers: Zoona, First Boston Bridge Lending Pool II, LLC, Paystack, Inc., Mutual Trading Co., Inc., Flex Co.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.