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On April 16, Uganda-based two-wheel ride-hailing platform SafeBoda announced that it had completed 1 million rides in Ibadan, a southwestern city in Nigeria. T his might not seem spectacular from a global perspective because it took the startup a year and two months to achieve but it’s a noteworthy feat in African markets.
India, with 32 startups, is the second-largest demographic represented in the new batch, while Nigeria is third, having delivered 18 startups. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Location : Lagos, Nigeria. pre-seed to build financial OS for B2B companies in Nigeria.
For years, offline test preparation centers in Nigeria have provided after-school guidance and tutoring to students who seek to pass entrance examinations. million in pre-seed funding led by European VC firm Target Global. million in pre-seed funding led by European VC firm Target Global. Like in the U.S.,
Millions of small businesses globally, especially in emerging markets, have stayed offline for the better part of the past decade. In Nigeria, some go to the extent of keeping information offhand. The startup’s new financing round was led by Berlin-based VC Target Global. million in pre-seed funding.
Andela has been pivotal to placing the continent’s tech talent globally. Nigeria has a population of almost 200 million, with 60% under the age of 25. The company is also exploring B2B partnerships with private schools in Nigeria and Africa, using AltSchool’s curriculum in their classes. African tech took center stage in 2021.
Kippa said the investment will allow it to develop financial products that help SMEs grow their businesses and grow its team in Nigeria. million pre-seed from Target Global and other investors last November. Nigeria’s Kippa gets $3.2M Nigeria’s Kippa gets $3.2M The company announced its $3.2
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. TradeDepot , a Nigeria- and U.S.-based A large majority of small and medium-sized businesses in Nigeria and across Africa are offline.
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.
After leaving the Stripe-owned company in 2019, he launched a data startup called Voyance where Singh, who had already exited one of his products — Transferpay.ng , an offline payments startup — was a software engineer. The plan for Mono is to be a global company and getting into YC provides the perfect opportunity to do so.
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. PalmPay came into Nigeria’s payments scene in June 2019. PalmPay launches in Nigeria on $40M round led by China’s Transsion.
In Nigeria alone, this industry, worth more than $200 billion, consists of over 40 million businesses of varying sizes, according to reports. Other VC firms such as Global Founders Capital (GFC), Golden Palm Investments, DFS Labs, Ulu Ventures, Plug and Play and Soma Cap also participated in the seed round.
And for some countries like Nigeria, customers need to accurately provide their addresses to financial institutions such as banks and fintechs to set up bank and other accounts. OkHi is tackling these challenges in Nigeria with its technology and has raised a $1.5 million seed extension to scale its efforts.
In a market where internet-enabled app-based banking can reach 300 million subscribers on the continent, USSD technology, predominantly offline and used mainly by feature phones, outpaces it with 850 million connections. And so what we’re doing is building for them, because despite having a smartphone, they want to be offline.
The firm seems to have found an investor as it announced that The Rise Fund , the global impact investing platform of investment firm TPG , will invest $200 million in its mobile money arm. . Typically , these services are present across countries of operation except Nigeria. million and 9.7% ARPU growth.
Behind such transactions is cross-border commerce, where African brands, via personal shoppers, export their items to a global audience. for relatives back in Nigeria. and Europe to customers globally. Nigeria, Ghana, and the U.S., to shop for and ship luxury items to them. million) in pre-seed funding.
VC firms 500 Global and Unicorn Growth Capital co-led the Lagos-based company’s seed round. The company plans to use the investment to expand within its home market Nigeria — where it operates in Lagos, Port Harcourt and Abuja — and outside to Ghana and Kenya. It saw participation from U.S.-based
With limited access to technology, these restaurants typically resort to using offline methods, including pen and paper, for things like manual reconciliation and inventory management. “We’re seeing fast-paced growth in Nigeria and Kenya with a retention rate of above 95%,” Futi added. . The two-year-old startup raised $1.1
The market, dominated by incumbents like Toast and upcoming players such as MarginEdge and Brazil’s Zak , has its value pegged at over $70 billion globally and is expected to reach $116 billion in the next four years. As with most technologies, Africa is playing catch up in this food-tech segment.
As many edtech companies benefited from the disruption of the pandemic, attracting wads of cash from investors globally, it did feel like African startups were left out. Nigeria remains uLesson’s largest market by far, said Shagaya. In August, uLesson introduced offline centers. 7500 (about $18) to a two-year “ device+plan” of
In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. It also plans to deepen its presence in the countries already present, especially Egypt and Nigeria. They operate online-only or hybrid models (a combination of offline and online settings).
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. It also struck a deal with Citi Bank Global to manage their F.X. Nala has built a hassle-free, offline mobile money payment platform for Africa.
And importantly , this is the group that demonstrated their confidence and desire to really solve what is a global problem,” said the CEO. With a similarity to the offline grid, Infinity connects to all the loads in a residence or business place and controls them digitally while providing data and analytics in the process.
These are some of the big global players in the buy now, pay later (BNPL) movement. A shift of preference to buy products on credit at the point-of-sale is on the rise; $680 billion will be spent by global consumers using online POS finance or BNPL over e-commerce channels by 2025. Affirm, Afterpay, Klarna, Quadpay. ”
Innovations around mobile money and digital payments have allowed for the processing of payments online and offline through USSD or STK commands, over apps or using NFC technology. Mobile money success across the continent is likely due to ease in access brought by advancements in telecommunications technology.
Beth is an expert in facilitating online and offline peer learning, curriculum development based on traditional adult learning theory and other instructional approaches. The current population of Gen Z is estimated to be about 2 billion, or 27 percent of the global population. She has trained thousands of nonprofits around the world.
While Nigeria and Kenya have been at the forefront of African fintech innovation, activities in Egypt are beginning to shape up nicely. An additional $15 million was raised from the same investors led by Dubai-based VC firm Global Ventures. For offline merchants, Paymob has a POS solution where they can receive in-store card payments.
Shared transportation in Nigeria, Africa’s largest country by population, is a thriving business, at least when done the conventional way: offline. million in seed funding from several investors to blitz scale within and outside Nigeria. However , most have found little luck, especially those in the two-wheeler mobility space.
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. Nigeria-based Nestcoin , for instance, raised $6.4
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