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SeamlessHR , a Nigeria-based company that wants to help African businesses “leverage the continent’s greatest asset: abundant human capital” with its cloud-based human resources (HR) and payroll software, has raised $10 million in Series A funding for its next phase of growth and regional expansion. billion in 2026 from $14.2
to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. The company witnessed this growth despite the Central Bank of Nigeria’s clampdown on crypto exchange activities. Nigeria is becoming Africa’s unofficial tech capital. ” he said.
Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. In its next phase of expansion, Bento is eyeing Egypt, South Africa, Uganda, Tanzania, Angola and Ethiopia by the end of next year.
A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. For investors, it hopes to help them build local market intelligence. The continent’s $115 billion digital economy is in its early phases. Africa’s digital opportunity.
million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. . Typically, pre-seed rounds are raised when the startup is still in the product development phase, yet to make revenue or discover product-market fit. Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa.
It also recently expanded into Nigeria, Ghana and Vietnam, among other markets. In some countries where Pillow has partnered with local, compliant on-ramp service providers, users can also buy crypto with their local fiat currency. It focuses on retail investors, enabling them to start with investments as small as $5.
The reason lies behind the fact that in this quarter, Nigeria has accounted for 76% of the company’s messaging transactions, while Algeria currently accounts for 15%. Termii’s round is also noteworthy because it strays away from the usual fintech, mobility, agritech and cleantech sectors that investors typically notice.
On the platform, Raise customers can also automate due diligence, set valuations, track employee stock vesting and make routine documentation for licenses and government documents in Nigeria and Kenya. . The next phase of growth, according to Coleby, will be onboarding Series A and growth-stage companies onto the platform.
In the checkout phase, we plan to introduce a very secure payment method…limited by time or value. It aggregates deals for a network of over 100, local and regional, e-commerce merchants. The e-commerce startup is also set for regional expansion, with immediate plans to enter Nigeria currently underway. “It’s
The initial investment phase will run for three years. Madica said it is also keen on reaching underserved markets in the continent, outside the well-established hubs of Egypt, Kenya, Nigeria, and South Africa. This is part of its push to ensure a pan-African reach by supporting local, and women founders.
“For us, our strategy is to build a global team that can think local and execute properly. We are looking forward to continuing our close working relationship with our new team and taking the business to its next phase.”. And we figured out that they’re already a perfect fit for that.”
Fifteen accelerators from key tech hubs, including Uganda, Egypt, Ghana, South Africa, Senegal, Nigeria, Ivory Coast, Kenya, Rwanda, and Tanzania will participate in the program. We believe that the next phase of this evolution will be led by home-grown accelerators, like the ones joining BAM,” said Dieng.
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. All these while increasing access and affordability to quality medication.
Other hard-hit countries will include Nigeria, Indonesia, the Philippines, Pakistan, Sudan, and Niger. According to the World Resources Institute , As occasional reports arise of locally acquired malaria in Europe and the U.S., Low- and middle-income countries would be disproportionately affected.
What are ways of translating early warning dashboards captured at the global level into local action? So, to help these ideas come to life, our next phase will focus on working directly with farmers and those in the field to get their feedback, and shape a useful, scalable, sustainable solution. These ideas are just the start.
Perhaps it’s another sign of a consolidation phase taking hold in the sector, after a Pre-Cambrian explosion of SaaS startups over the last decade? Nigeria startup scene gets watershed exit with Paystack deal. Image Credits: Brent Franson for Paystack. A startup hub just needs one or two of the right deals to change everything.
Adanian Labs targets idea-phase tech startups, offering them all-round support including capital, advisory and operational backing; building them from the ground up. Besides, as multinationals look to Africa for tech talent, it has become important to increase the digital and tech skills locally. Image Credits: Adanian Labs.
July 13, 2023 The FTC is reportedly investigating OpenAI The FTC is reportedly in at least the exploratory phase of investigation over whether OpenAI’s flagship ChatGPT conversational AI made “false, misleading, disparaging or harmful” statements about people. based company to stop processing locals’ data.
And as g amers in sub-Saharan Africa increase to more than 180 million in the next five years, per a report, s tartups such as South Africa-based Carry1st are strategically positioning themselves for this successive growth phase in the industry. In other words, Carry1st will act as Riot’s payments partner in Africa. .
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