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Zambian card issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global. The company also claims to have processed volumes now reaching double digits in millions of dollars. The most popular card schemes globally are Union Pay, Visa, and Mastercard.
Union54 , the first Zambian startup backed by Y Combinator, has gotten another major venture capital firm on its term sheet: Tiger Global. They range from digital banks to post-Series A fintechs and “companies founded on the basis of Union54’s availability.” . Tiger Global declined to comment on the investment.
More venture capital keeps trooping into Africa’s B2B e-commerce retail, a space where startups are digitizing informal trade to get thousands of merchants to operate more efficiently. Now, the last-mile distribution e-commerce company has received more investment: a $15 million Series A led by Tiger Global.
Today, Africa’s largest digital payments network MFS Africa joins the fray. He started the company in 2009, facilitating peer-to-peer transactions from Kenya to Zambia, Uganda, Zimbabwe and the Ivory Coast, and vice versa. T hat changed last month when it acquired Baxi , an agent banking platform developed by Capricorn Digital.
Zambia joins that list today, and its entrant, Union54 , is a worthy first entry. Zazu was launched in 2015 as a challenger bank in Zambia. More than 40 African startups from a handful of countries have gone through YC over the past decade. The startup claims to be Africa’s first card-issuing API and only just launched this year.
San Francisco-based Global Founders Capital (GFC) led the round. Like many API-led fintechs, card-issuing API (pioneered by the likes of Rapyd, Ayden and even Stripe globally) is increasingly getting attention from investors who think it’s the next big thing in a sector that has attracted the most VC dollars in Africa.
The region happens to be one of the fastest-growing globally; nevertheless, over 200 million people in East Africa do not have access to a bank account or mobile money. Anglophone East Africa is home to over 400 million people, with half under 25.
Bloom , a Sudan-based fintech that offers a high-yield savings account and adjacent digital banking services, has raised a $6.5 based VCs Global Founders Capital (GFC) and Goodwater Capital and UAE-based early-stage firm VentureSouq. Visa is taking the lead as a first mover in digital payments in Sudan. million seed round.
The firm co-led the round with Global Ventures, the MENA-focused VC that has backed the likes of Tabby, Helium Health and Paymob. “I And in turn, give the rest of the world access to African consumers on the ground who want and need these goods globally.”.
We want to encourage capital into African women-led businesses, and to support a high number of existing local and global investors to invest more capital in this market,” Impact Room CEO and founder Blantern told TechCrunch. Impact Rooms is backed by US-based investment group Global Blockchain Ventures (GBV).
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. Already, CBDCs are taking off in Africa, with Zambia and Kenya being the latest countries to test their viability.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. African startups join global funding boom as fintech shines. This alternative financial infrastructure is one of the largest globally. It’s literally a no-brainer.
And importantly , this is the group that demonstrated their confidence and desire to really solve what is a global problem,” said the CEO. First, around product development, the team is eager to build next-generation digital renewable energy. He describes the system as an epicentre of energy provisioning. ” More than 1.5
Hunger is a global issue that affects everyone, everywhere. An estimated 811 million people are hungry globally. Supporting them is not only essential to the global community’s food supply, but also to the day-to-day well-being of the communities in which they work and live. Why Small-Scale Farmers? Casper Stryndom.
Other existing investors include Silicon Valley backer Jim Breyer of Breyer Capital, Shravin Bharti Mittal of Bharti Global Limited-an Indian Conglomerate, Social Capital and Golden Palm Investments. The tech startup plans to use its network of pharmacies to build what they describe as a digital primary care service.
Patients in Ghana, Nigeria, Kenya, Zambia, Malawi, Rwanda and Ethiopia, where mPharma has a presence, now have access to the virtual services. mPharma’s Mutti Online Pharmacy is now among the handful of exclusively digital pharmacies, including Kenya’s MyDawa, with operations in Africa.
We are primarily focused on expanding across Africa in 2022 and in other emerging markets globally,” Wowzi co-founder and CEO, Brian Mogeni, told TechCrunch. “We This a new form of digital marketing that pivots from the norm of using celebrities for marketing campaigns.
Other existing investors include Silicon Valley backer Jim Breyer of Breyer Capital, Shravin Bharti Mittal of the Bharti Global Limited, Social Capital and Golden Palm Investments. It plans to use its network of pharmacies to build what it describes as a digital primary care service that will offer all-in-one diagnostics services.
Governments were slowly waking up to the emergency, creating organizations like the Global Fund, one of the largest global health partnerships on the planet, but companies were still fast asleep. At that time, (RED) spoke at length about investments in global health systems, the importance of antiretroviral drugs, and so on.
These global leaders are coming from the United Kingdom, Uganda, Florida, and DC. Portland, Oregon: Digital Inclusion: Why Access for All Matters More than Ever. Los Angeles, California: Digital Activism: How Much Can You Really Accomplish? Lusaka, Zambia: Website Building and Designing Using WordPress for Nonprofits.
Nigeria leads the way again with five startups, while Egypt has four, Morocco has two, and Kenya, Ghana, Zambia and South Africa each have one. Africa has the lowest insurance penetrations globally. Another digitizing-informal-retail-stores play, this time from Nigeria. Union54 (Zambia). Amenli (Egypt). Chari (Morocco).
Global Head of the Tableau Foundation. Rather than trying to manage health issues in siloes, PATH is focusing on working with in-country partners to grow disease monitoring digital health capability in the broadest possible sense. . “If Neal Myrick. Kristin Adderson. June 13, 2021 - 5:55pm. June 13, 2021.
New report examines Africa’s growth in the digital economy and VC investment landscape. In a period of two years, Adanian Labs has grown beyond Kenya, by establishing a presence in Tanzania, Zambia, South Africa and Nigeria – some of the biggest startup and tech hubs in Africa. How Adanian Labs started. Africa-wide Growth.
The mix of positives such as a fast-growing population–the youngest globally–, solid smartphone penetration, increasing crypto adoption, and negatives like low GDP per capita across board and unemployment makes Africa the next ripe ground for web3. What WeChat did in China, Jambo will do in Africa.
Global Head of the Tableau Foundation. Rather than trying to manage health issues in siloes, PATH is focusing on working with in-country partners to grow disease monitoring digital health capability in the broadest possible sense. . “If Neal Myrick. Kristin Adderson. June 13, 2021 - 5:55pm. June 13, 2021.
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