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The round, led by Tiger Global — the VC firm’s third major investment in Africa this year after Flutterwave and FairMoney — also had participation from new investors Target Global (an investor in neobank Kuda), General Catalyst, and SBI Investment. Tiger Global confirmed it led the investment in an email to TechCrunch.
Global financial transactions are facilitated mainly by payment processors such as Visa or Mastercard. 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. Africa has it different. The Dash team.
In March, when TechCrunch covered Plentywaka, CEO Onyeka Akumah said the two-year-old company eyed both regional and global expansion. Plentywaka is primarily a bus-booking platform but, per its website, has more than 900 vehicles, ranging from cars to vans to buses. However , for the former, it’s in the form of an acquisition.
There are many Robinhood-esque platformsglobally because of a growing need to invest in U.S. based Greycroft and Tiger Global co-led the Series A round (it’s the second Tiger Global-led investment announced this month after Ghanaian fintech Float). stocks in different parts of the world. stocks in real-time. 45 (~$0.1)
You can count on one hand the number of funds bigger than Tiger Global. From that fund, Tiger Global made more private investments than any other firm last year — about 340 as of late December — roughly one investment per day, according to CB Insights. However, Tiger Global limited its activity in Africa from 2009 to 2014.
Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Delle is a World Economic Forum Young Global Leader, and a Harvard and Oxford graduate.
Fashion items are among the most — if not the most — sought after on many e-commerce platforms. Behind such transactions is cross-border commerce, where African brands, via personal shoppers, export their items to a global audience. to shop for and ship luxury items to them. million) in pre-seed funding. million) in pre-seed funding.
B2B retail and e-commerce platforms have primarily tried to fix these inefficient supply chains over the last couple of years and have received substantial investor backing since the pandemic. Still on competition and market play, MarketForce , an asset-light platform, is present in Kenya, Nigeria, Uganda, Tanzania and Rwanda.
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. (
million in seed funding, as well as the launch of a cloud-based AI platform — which allows users to build with large language models. . It is looking to expand its team of 33, which is currently spread across nine countries, including Ghana, Nigeria and Kenya. Ohio-based startup Mantium has today announced closing $12.75
And according to a new report from Salient Advisory, a global healthcare consulting firm, this is the segment where the most impressive growth has occurred for Africa’s healthcare in the last 12 months. Salient surveyed over 80 companies across Ghana, Kenya, Nigeria, and Uganda, 25% more than the number it tracked in its last report in 2021.
The YC-backed food procurement platform has doubled down on the pivot — instrumental to the company’s $3.2 Its platform, described as a series of stacks, is designed to mitigate losses and help food businesses thrive. Since businesses don’t have access to accurate data, they usually buy what they don’t need.
“And putting those two things together, we’ve been able to create a platform tailored to the realities of today. But also really pushing towards what’s possible for business owners in Ghana and Nigeria, who has a smartphone in their pocket.”. OZÉ boasts of a client base of more than 125,000 business owners in Ghana and Nigeria.
Michael Seibel , the CEO of Y Combinator, is a global advisor and an investor in the firm, and so is Andy Volk , the head of ecosystem for Google Sub-Saharan Africa. Microtraction revealed that it accepted over 500 applications from startups in Nigeria, Ghana, Zambia, and Mauritius in its first full year of operation.
Several platforms have sprung forth to bring stock trading opportunities in their respective markets. In Nigeria, at least four platforms offer both local and foreign stocks to individuals. Chaka is one such platform. Egyptian social e-commerce platform Taager raises $6.4M Robinhood is no exception. led by 4DX Ventures.
Via its ridesharing platform, Shuttlers provides companies with better mobility options for their employees. . Our mission is to transform the way people commute around the world by building a global partner network and connecting communities of shuttlers like we are presently doing in Lagos, Nigeria,” Olokesusi said in a statement.
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. Simon Ward founded FloatPays in 2019 as an on-demand wage access platform to help employees access, spend, save and manage their money.
This is totally the “how sausage and law are made” view, so don’t read this unless you want to know more about global accessibility in detail! 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.
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. Since its Nigerian launch in 2019, PalmPay has expanded to Ghana, serving over 5 million users, per information on its website.
We aggregate that knowledge and provide one platform that ensures you don’t have to worry too much about trust,” the CEO added. According to Norebase, companies that use its platform can be incorporated in any African country within “a few minutes” and expand to new locations in a week.
Chipper Cash , an African cross-border payments company, has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. Its services are used across seven African countries — Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya. In May, it expanded to the U.K.,
Catalyst Fund , a global accelerator managed by BFA Global , announced the 8th cohort for its Inclusive Fintech Program today. Lami is an insurance platform and API that enables more individuals and businesses to access insurance coverage. Here are the startups in the 8th cohort.
While Cauris provided debt financing, Tiger Global and JAM Fund, the investment firm of Tinder co-founder Justin Mateen co-led the equity bit. Other features on the platform include invoice advance, opening a business account, payment links, managing budgets and spend cards. And so that’s what we’ve been working on so far.”.
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. As fertiliser prices more than quadruple and the conflict in Ukraine compounds global food security challenges, this investment is crucial,” it said. million , including $6.4
Last March, the Ghana-founded and New York–headquartered Dash raised $32.8 million in equity from Insight Partners, Global Founders Capital, 4DX Ventures and ASK Capital, among others. Kinyua assumes the role of interim CEO. That’s a 4x boost in transaction volume and a 5x rise in user count within five months.
Participating investors include XYZ Ventures, Village Global, Musha Ventures, Voltron Capital, Ventures Platform and Paystack CEO Shola Akinlade. Earnipay founder and CEO Nonso Onwuzulike tried this while running Reaval, a Ghana-based recycling business he started on the side in 2019.
African startups join global funding boom as fintech shines. An interesting instance would be freelancers in Ivory Coast trying to receive payment for services on a global payments platform. This alternative financial infrastructure is one of the largest globally. He also sits on the board of 88mph.
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 Klasha makes revenue via sales commissions and subscriptions merchants pay to use the platform for analytics. The platform will go live in Kenya in the next couple of months, said Anuna.
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. While global investors have previously invested in African startups, their activity seemed more prominent in 2021, probably because of their participation across the board.
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.
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.” You can think of Float as a really well-built cash management platform. We’ve advanced $2.8
Yet, ThankUCash , a platform launched in 2018 by Connected Analytics , has managed to thrive, proving that not all is gloom in the deals, coupon and rewards business. VC firms 500 Global and Unicorn Growth Capital co-led the Lagos-based company’s seed round. It also wants to improve its product offerings and add more staff.
Sub-Saharan Africa’s share of the global population without access to electricity stood at 77% in 2020, according to reports. Its AI-enabled grid management platform, Adora, solves one of two fundamental problems power distribution companies face in Africa. Bim Adisa (CEO). CrossBoundary gets $25M for solar mini-grids in Africa.
The B2B e-commerce food distribution platform claims that over 100,000 customers use its services across Kenya while delivering more than 600 metric tons of product to 10,000+ retailers daily. . First-time investors OP Finnfund Global and Endeavor Catalyst Fund participated as well. “We
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. Other investors include Northstar, Social Capital, Novastar and TO Ventures.
At the time, the company’s focus was to make it easier for African consumers to purchase products directly from global fashion retailers. The checkout solution can be integrated into any e-commerce platform, the company said. Next is its mobile application which lets users in Nigeria, Ghana or Kenya send and receive money.
Details: Honor CEO Zhao Ming recently announced his departure from the Huawei spin-off on Chinese social platform Weibo as the company prepares for its upcoming IPO, having served for a decade. Honors global CMO Guo Rui will temporarily take on the role of CMO for China, previously held by Jiang Hairong.
The investment was led by Ed Brakeman, a senior managing director at Bain Capital and Hans den Bieman, founder and ex-CEO of Mowi, one of the largest salmon businesses globally. We run a tech-enabled platform and have scaled 2x faster than any other African fish company. I learnt a lot about aquaculture scaling and all that.
billion plays on the platform. Vibez is one of many African and Caribbean artists who have found breakout success on the platform. Many of them consistently draw larger audiences on Audiomack than on Spotify or Apple Music , largely due to the platforms strong presence in local markets. 1 on iOS and Android in Nigeria and Ghana.
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.
Andela has been pivotal to placing the continent’s tech talent globally. 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.
Pillow aspires to be an all-in-one platform that helps even newbie users save, spend and invest in crypto currency. It also recently expanded into Nigeria, Ghana and Vietnam, among other markets. The app currently has more than 75,000 users in over 60 countries.
in average transaction fees, digital senders like NALA pitch themselves to customers as platforms with the best rates and lowest prices. The platform allows payments from the U.K. to Tanzania, Kenya, Uganda, Rwanda and Ghana. Accel-backed mobile money platform NALA to start offering remittance services to East Africa.
Bolt’s Africa regional director, Paddy Partridge, told TechCrunch that the ride-hailing firm has experienced a spike in on-demand transportation services, and that the current drivers — especially in Ghana and Nigeria where “there’s a real shortage of cars” — are not enough to meet this growth. Image Credits: Bolt.
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