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Zambian card issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global. The most popular card schemes globally are Union Pay, Visa, and Mastercard. Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API. Tiger Global is earning its stripes in Africa.
Union54 , the first Zambian startup backed by Y Combinator, has gotten another major venture capital firm on its term sheet: Tiger Global. Tiger Global declined to comment on the investment. Tiger Global had invested in Nigerian startups Jobberman, Cheki and Wakanow, and South African e-commerce company Takealot this past decade.
Now, the last-mile distribution e-commerce company has received more investment: a $15 million Series A led by Tiger Global. The round, which closed sometime in March, is Tiger Global’s second investment in the B2B e-commerce space after backing Wasoko in its mega Series B round. million seed round we covered.
Sudo Africa , a fintech that provides a card-issuing API for developers and businesses in Nigeria, has raised $3.7 San Francisco-based Global Founders Capital (GFC) led the round. Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API. million in pre-seed funding.
One of the largest solar companies in Africa and Asia, Sun King , has raised $260 million in series D funding to deliver off-grid energy technologies to more people across the two continents. It also has a presence in Zambia, Uganda, Tanzania and Nigeria, where it says its customers tripled over the last one year.
In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. This represents nearly four-fold growth over a year ago when its portfolio raised $6 million (and just $3 million in 2018). Though, just eight of those companies got investments.
Cross-border remittances — when people living and working abroad send money back home to friends and family — continues to be a huge part of how those living in developing countries, off the global financial grid, can be helped. on 2020, as parts of the global economy started to claw back growth after a tough 2020 due to Covid-19.
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 startup has now set out to activate more mutti pharmacies to widen its reach and to build out its tech-infrastructure as it readies itself for the next phase of growth after raising $35 million in Series D round. Other investors include Northstar, Social Capital, Novastar and TO Ventures.
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.
The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors co-led by American Express (AMEX) Ventures, the strategic investment group of American Express. This investment is AMEX Ventures’ first in an African startup. KlashaCart.
JUMO , a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised $120 million in a new round of funding led by Fidelity Management & Research Company. It is also coming a year after raising $55 million in a similar unnamed financing round.
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. million seed round. This investment is coming after the startup’s undisclosed pre-seed round last year.
Impact Rooms offers well-rounded solutions for startup problems, from ensuring that they are investor-ready and are matched with the right investors, to raising capital. Impact Rooms is backed by US-based investment group Global Blockchain Ventures (GBV). This in addition to helping 1,000 startups raise funds.
His roles involved representing Australia in international negotiations on global health and humanitarian affairs and as an advisor to the UN secretary general on global health and pandemic preparedness. . Zenysis — which raised a $2.8 These countries seldom embark on intervention projects alone or solely with Zenysis.
Investors who participated in the round include Noemis Venture, Octerra Capital, Consonance Invest, XFactor ventures, 500 Global, Canaan Partners, and Andrew Lundsten (formerly of Stripe), who also serves as the startup’s advisor.
” The $90 million funding raised is a combination of debt and equity, $45 million each. And importantly , this is the group that demonstrated their confidence and desire to really solve what is a global problem,” said the CEO. Since 2011, the company has raised over $230 million in debt and equity financing.
The company confirmed to TechCrunch that it has raised $100 million in Series C financing — split between $70 million equity and $30 million debt. He started the company in 2009, facilitating peer-to-peer transactions from Kenya to Zambia, Uganda, Zimbabwe and the Ivory Coast, and vice versa. That’s the grand mission of the company.”
And as pressure mounts to find new crop land to support the growth, the world’s eyes are increasingly turning to the African continent as the next potential global bread basket. The Sun Exchange raises $3M for crypto-driven solar power in Africa. Conceptually solar water-pumping systems have been around for decades.
Founded in 2013 by Rockson , Daniel Shoukimas and James Finucane , mPharma is one of the well-funded startups across Africa raising over $50 million since inception, this includes a Series C round of $17 million, led by UK’s development arm CDC Group, it received last year. We currently have five centers open.
It remains one of the well-funded startups across Africa, raising over $50 million since inception, including a Series C round of $17 million, led by the CDC Group, the U.K.’s Ghana, Nigeria, Kenya, Zambia, Malawi and Rwanda are the other markets the tech startup has operations in. s development finance institution, last year.
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.
Zambian fintech startup Union54 raised a $12 million seed extension , led by Tiger, that caught our eye. The Beanstalk exploit was bad news this weekend , but my hunch is that so long as votes are tied to economic might, many neat ideas in crypto-land will remain open to exploit.
After meeting her at the Global Engagement Summer last spring, I knew I wanted to grab her for an interview before she became too famous. He ended up running for about 1,500 miles all the way to Zambia, arriving with nothing but the clothes on his back, about 90 pounds, and showing up at a refugee camp where he knew nobody.
Jambo , a Congo-based startup building Africa’s web3 user acquisition portal through “learn, play, earn” and democratizing access to crypto-based income-generation opportunities, has raised $7.5 Nestcoin raises $6.45M pre-seed to accelerate crypto and web3 adoption in Africa and frontier markets. million in seed funding.
By the end of the one-year venture building program, the startups should have launched a product, onboarded, and had repeat customers, have a defined revenue model, and have raised or are in the process of closing seed funding. “We So, we have a short program to help them raise,” said Kamara. Image Credits: Adanian Labs.
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