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Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. Its platform currently supports 400 businesses.
OZÉ , a Ghanaian fintech startup that provides digital recordkeeping tools with embedded finance products to medium and small businesses, has raised a $3 million pre-Series A round. And putting those two things together, we’ve been able to create a platform tailored to the realities of today.
An alternative payment network with connected wallets allowing a mobile money user to transact with a bank account would fix this problem, and that’s the premise of Ghana-based fintech Dash. Today, the unified payments app is announcing that it has raised $32.8 million in an oversubscribed seed round. The Dash team. Image Credits: Dash.
A couple of digital freight companies are tackling this problem, like Nigerian-based MVX. Its business model revolved around providing a support vessel booking platform that matched vessel chartering requests made by operators with available Offshore Support Vessels (OSVs). . The sector is largely inefficient and fragmented.
M-KOPA’s financing platform has proved helpful to this set of users since launching as an energy provider in 2011. However , it has expanded its pay-as-you-go model to include other needs: smartphones (launched in Kenya two years ago), TVs, refrigerators, solar lighting and digital financial services such as cash loans and health insurance.
While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved in some countries. These startups digitize the supply chain and distribution to providers. “The However, a particular segment has achieved scale faster within the past year.
Fintech lender and private equity firm Cauris was the sole provider of the debt financing while the equity investors include Octerra, Wuri Ventures, Seed9, The MBA Fund, French development institution Proparco and ASCVC, a venture fund founded by executives of the supply chain visibility platform Project44.
During his time at Accra in 2016, he met Quao, a trained pharmacist in Ghana at a hackathon whereupon talking found out that their interests in medical testing overlapped. Beattie says to TechCrunch that while he saw many exciting new tests in development in the US, he didn’t see the same in Ghana.
There’s no shortage of digital banks in Nigeria and, in general, in Africa. We’ve covered a host of these platforms in the past. We’ve covered a host of these platforms in the past. In the latest development, Umba , a digital banking platform operating in Lagos, Nigeria, has raised $15 million in Series A funding.
Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. The platform also stores patients’ medical records and supports reporting and accounting.
The startup told TechCrunch that it will use the funding to enter Ghana and Egypt by the end of the first quarter of 2022, and other additional markets in Francophone, East and Southern Africa by the close of the same year. Nigerian mobility tech startup Metro Africa Xpress Inc. (
It is this missing connection that Emtech , a central bank digital infrastructure provider, is looking to fill through its digital regulatory platform, which aims to fast-track the reach of fintech products to market. Emtech has now moved into production following the successful pilot in Ghana last year.
The digital bank has seen some success since launching in Nigeria in 2019. Kuda claims to have up to 5 million users, more than thrice the number it had last August during its $55 million Series B round , money it raised to enter into other African countries like Ghana and Uganda this year. Kuda takes digital banking play to the U.K.
Most of these businesses operated offline until a few years ago when startups brought about digitization by providing infrastructure and a gamut of e-commerce and financial services. Sabi is an attempt at platforming the informal sector and African trade via various online and offline channels. Anu Adasolum (Founder and CEO, Sabi).
Since leaving the university in 2014, he has co-founded several tech startups but made his mark globally with OMG Digital, a startup with offices in Ghana and Nigeria that wanted to become the “ BuzzFeed of Africa.” ” In 2016, OMG Digital was one of the first African companies accepted into Y Combinator.
Further checks in Crunchbase and Tracxn--platforms that track funding rounds in startups and private companies globally–reveal that the company closed the round in August 2021. It provides merchants via its PalmPartner app with online payment and offline POS acquiring services and plans to introduce digital marketing services soon.
From Onayemi’s point of view, the growth of Africa’s digital economy revolves around gains in six segments: education, payments, logistics, transport, identity, and trade. We aggregate that knowledge and provide one platform that ensures you don’t have to worry too much about trust,” the CEO added.
The funding comes at a time when Farmerline, which has operations across Ghana, is setting up shop in Ivory Coast as it continues its expansion across West Africa. We are thrilled to support Farmerline Group and smallholder communities across Ghana and Ivory Coast.”. The new funding brings the total amount raised in the round to $14.4
MarketForce, a Kenyan B2B retail and financial services distribution startup, has expanded into five additional markets across Africa to grow RejaReja — its retailer ‘super app’ that makes it possible for informal merchants to order and pay for inventory digitally, accept payments for utility bills, and access financing for their businesses.
Lami is an insurance platform and API that enables more individuals and businesses to access insurance coverage. From Nigeria, Indicina facilitates lending for individuals and small businesses through AI-powered digital credit infrastructure.
Boampong founded the Ghanaian fintech in 2019 and is one of Africa’s well-known serial entrepreneurs after co-launching OMG Digital , a YC-backed Ghanaian media startup, in 2016. Last March, the Ghana-founded and New York–headquartered Dash raised $32.8 Kinyua assumes the role of interim CEO.
The platform, which will allow broker-dealers, asset managers, pension funds, and institutional investors to access markets outside their own country, is announcing its launch to the public today. That was the year MTN Ghana, a local telecom operator, went public in the West African country after raising about $237 million. “I
Pillow aspires to be an all-in-one platform that helps even newbie users save, spend and invest in crypto currency. It supports 10 digital assets, including Bitcoin, Ethereum, Solana, Polygon, Axie Infinity and USD-backed stablecoins USDC and USDT, and plans to expand to over 50 assets in the coming months.
million pre-seed funding to enable users grow their revenue streams through digital collectibles. The startup’s marketplace, Ayokenlabs , will feature digital collectibles from musicians, sports brands and influencers from all over the world. eBay launches its first collection of NFTs in partnership with web3 platform OneOf.
The idea for the YC-backed Ghanaian fintech came during the chief executive’s time at OMG Digital, a media company he founded that also got into YC , in 2016. “We Other features on the platform include invoice advance, opening a business account, payment links, managing budgets and spend cards.
million in a pre-Series A round, to tap the opportunities in emerging markets, where digital lending apps have recently sprung up in droves. Bfree is now on a massive recruitment drive for the 16 new markets in which it is setting up operations, including Ghana, India, Uganda, Brazil, Colombia, Mexico, Russia, Poland, Pakistan and Indonesia.
Its AI-enabled grid management platform, Adora, solves one of two fundamental problems power distribution companies face in Africa. The other problem is data-focused, tackled by the company’s proprietary platform called Customer and Asset Information Management system (CAIMs). Bim Adisa (CEO).
The business opportunity for remittance is lucrative despite digital lenders vying for less than 20% of the international money market dominated by traditional offline players. in average transaction fees, digital senders like NALA pitch themselves to customers as platforms with the best rates and lowest prices. and the E.U.,
It is also rolling out an e-commerce platform for pharmaceuticals. “We Patients in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda and Ethiopia, where mPharma has a presence, now have access to the virtual services. mPharma is also present in Gabon where it has a contract with the government to build a drug supply chain infrastructure.
According to a McKinsey report, most African countries have experienced double-digit insurance growth in CAGR in local currency over the last five years, thus positioning the region as the second-fastest growing for insurance globally after Latin America. As many as 2.8% Despite the abysmal number, there’s some good news.
It will start its expansion in Ghana before expanding to the neighboring Ivory Coast, accelerated by a fresh $12.9 We think of ourselves as the Amazon of farmers… a digital and physical infrastructure powering a marketplace that allows the movement of goods and services to and from rural areas,” said Attah. “We million ($6.4m
Nigeria-based health tech startup Helium Health has acquired Meddy , a Qatar-headquartered and UAE-based doctor booking platform for an undisclosed amount. With a presence in six African countries — Nigeria, Ghana, Senegal, Liberia, Kenya and Uganda — Helium Health has signed more than 500 healthcare facilities. Helium Health.
Some gig platforms have tried to embed financial services into their systems, but they are limited. The company, which describes itself as a one-stop shop financial services platform, has closed a $3 million seed in debt and equity round. The gig platforms are primarily responsible for the former. ImaliPay is an example.
But since the unicorn changed its business model to a pure marketplace focusing on senior developers, other platforms such as AltSchool Africa are trying to fill one of the gaps it left: training people to become junior to mid-level engineers. But when it comes to being a software engineer or digital skills, you really don’t,” said the CEO.
In December 2021, Uganda’s multi-service and digital payment technology platform SafeBoda became the first startup in the continent to receive investment from the Google fund. The fintech plans to enter Ghana later this year. Still in 2021, Mobility 54 joined DOB Equity and InfraCo Africa to invest $3.4
WIPO Headquarters The event this last week at WIPO in Geneva, Switzerland, was the ninth meeting of the Stakeholder’s Platform, which was set up about the time the original Treaty draft was introduced. The Stakeholders Platform and the TIGAR project were time-limited and needed to be replaced by a new structure.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. An interesting instance would be freelancers in Ivory Coast trying to receive payment for services on a global payments platform. It’s literally a no-brainer. Image Credits: PawaPay.
The fintech’s new growth strategy follows its plan to power its embedded finance offering beyond its current markets, including Uganda and Ghana, to bridge the financing gap affecting millions of micro, small medium-sized enterprises (MSMEs) across these markets. Image Credits: Pezesha.
Before starting Nestcoin, founders Yele Bademosi and Taiwo Orilogbon led the charge at Bundle Africa, one of the continent’s well-known crypto trading platforms. With Bundle incubated within the ecosystem of the largest crypto exchange platform, Bademosi had lofty ambitions for the company.
Stephen Deng, the co-founder and partner of DFS Lab, a firm that invests in digital commerce startups, serially compared the 2016 Southeast Asia funding landscape to where Africa might be in 2021, at $3 billion. Digital payments gateway MFS Africa is one of Africa’s few corporate investors and acquirers. billion and $2.8
Startups digitizing B2B e-commerce and retail in Africa continue to grab the headlines after the pandemic paved the way for widespread offline retail and commerce disruption. Last year, the company had over 40,000 merchants on its platform; now, it is servicing more than 100,000 merchants, according to CEO Onyekachi Izukanne.
Pula , a Kenyan insurtech startup that specialises in digital and agricultural insurance to derisk millions of smallholder farmers across Africa, has closed a Series A investment of $6 million. They include Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique.
Klasha makes revenue via sales commissions and subscriptions merchants pay to use the platform for analytics. Last year, Klasha’s consumer product allowed users in Nigeria, Ghana and Kenya to create virtual cards, fund with their respective currencies and send and receive money. Image Credits: Klasha. KlashaCart.
Small businesses in Africa need digital banking services including plenty of credit. Mina Shahid , Catherine Denis and Ben Best founded Numida in 2017 and capitalized on the opportunity to build one of East Africa’s first digital fintechs targeting semi-formal micro and small businesses. million seed round. His reason?
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