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Sequoia Heritage, Stripe and others invest $200M in African fintech Wave at $1.7B valuation

TechCrunch

and Senegal-based mobile money provider, has raised $200 million in Series A round of funding. Four big-name backers jointly led the round — Sequoia Heritage, a private investment fund and a subsidiary of Sequoia; Founders Fund; payments upstart Stripe; and Ribbit Capital. Wave , a U.S. Image Credits: Wave.

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Seedstars launches second fund to invest in 100 startups in emerging markets

TechCrunch

Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. One difference between SIV II and the first fund is that it can writer bigger checks.

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Pangea to unlock diaspora remittances as funding source for African startups

TechCrunch

Norway’s Pangea Trust, through its equity crowdfunding platform Connect , is unlocking diaspora remittance inflows as funding source for early and growth-stage startups in Africa. Remittances from abroad reached $45 billion in 2021, with Nigeria, Ghana, Kenya, Senegal and Zimbabwe leading the list of recipient countries.

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Wave, a Stripe-backed African fintech valued at $1.7 billion, cut 15% of its staff in June

TechCrunch

Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. The company, which operated a stealth launch two years prior in Senegal, has since raised over $290 million in equity and debt capital funding to date. Germany, Nigeria and the U.K.

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Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange

TechCrunch

PAPS , a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics services. Participating investors include existing funds Uma Ventures and Saviu Ventures and new investors Yamaha Motor, LoftyInc Capital, Proparco, Google Ventures, To.org, Kepple Ventures and Enza Capital.

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Reports say African startups raised record-smashing $4.3B to $5B in 2021

TechCrunch

Then, the disparities between venture funding studies were stunningly clear. . Partech Africa covers equity deals in tech and digital spaces and funding rounds higher than $200,000. billion in total estimated funding — $4.65 It’s more than a 250% increase from last year’s total funding of $1.3 billion to $1.5

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Smile Identity expands African footprint with acquisition of Appruve to strengthen ID verification services

TechCrunch

On the other hand, Appruve, which provides an API that verifies user identity, fraud detection and digital documentation, primarily focuses on new datasets that enable or complement traditional government data such as international passports and national IDs. We have product depth in Nigeria already.

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