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and Senegal-based mobile money provider, has raised $200 million in Series A round of funding. The mobile money market in sub-Saharan Africa is growing exponentially. This past year, up to $500 billion has moved through the accounts of 300 million active mobile money users in the region. Wave , a U.S.
Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. Thus, the layoffs affected almost 300 employees, most of whom worked in Wave’s new markets: Burkina Faso, Mali and Uganda. The firm, run by Drew Durbin and Lincoln Quirk, was valued at $1.7
As fintech services proliferate across different African markets, the need to have sufficient KYC and identity verification processes in place has intensified amid increasing fraud challenges and more stringent regulatory requirements. We want to add that depth in more markets, and Appruve gives some of that.”
Taptap Send believes that its unique place in the market is that it has built not just the easiest, but the most reliable system to initiate, manage and receive those transfers. Taptap Send has been steadily growing and adding more countries to its list of served markets.
When companies create digital payments-facing solutions for African countries outside Nigeria and South Africa, building around mobile money is key. Today, the company is announcing that it has closed $9 million in seed funding to scale its operational presence, recruit talent and expand into new markets.
“In managing the operations directly ourselves … we went from an asset-light backend distribution software platform to this market-facing platform that was out there delivering goods directly to shops themselves.”. And what started in Kenya soon scaled into neighboring East African markets Tanzania, Rwanda and Uganda in 2018.
From hospitality to fleet management : Two brothers in Senegal are putting their hospitality management skills to work helping trucking companies with their logistics. For example, raising funds to scale up sales and marketing efforts might sound great, but what if the business itself has negative unit economics? Catherine has more.
While traditionally busy markets like North America and Europe benefited from the explosion in capital, other regions with more nascent startup scenes also saw big gains in their ability to attract funding. The Exchange explores startups, markets and money. Chargel, based in Senegal, recently raised $2.5 Latin American as well.
CinetPay , a payment gateway that allows e-merchants and merchants to accept mobile money and other forms of payments in Francophone Africa, has secured $2.4 “But the cost that we make is that in Francophone Africa 80% of the population have a mobile money account. million in seed funding. million in transactions monthly. .
The company, which facilitates B2B payments for businesses in Francophone West Africa, mainly via mobile money channels, has raised a total of $7 million in the financing round. . In 2019, West Africa reported the most live mobile money services in any region, with 56 million active accounts. million monthly.
Partech Shaker , the innovation division of the Paris-based VC firm Partech , has launched an accelerator program christened Chapter54 to help European startups launch in African markets. We are going to help them to reinvent the way they operate their businesses (to enter African markets).”. You have to tweak the way you work.
Across sub-Saharan Africa 303 million people, about 28% of the population, are connected to the mobile internet, according to the 2021 GSMA mobile economy report , and this number is expected to rise to 40% in three years’ time.
They include Algeria, Botswana, Egypt, Kenya, Lesotho, Malawi, Mauritius, Morocco, Mozambique, Senegal, Seychelles and South Africa. PayPal finally arrived Africa’s most populous country in 2014 and a year later, it became the company’s second-biggest market on the continent.
If there’s a sector that has seen the biggest uptick in the number of startups and venture capital in emerging markets since the start of last year, it has to be the digitization of mom and pop stores. It’s the same process in Tunisia, its second market after Morocco. The Moroccan startup currently transacts about $2.5
With other outlets like media publications WeeTracker and Disrupt Africa disclosing different results for the African venture capital market, we compared and contrasted their results last year. Senegal, the region’s top destination for VC funding dropped from $16 million in 2019 to $8.8 Regional and gender diversity check.
Investors believe the market correction, which caught up with the continent in the second half of 2022, will spiral into this year. Total funding and number of deals Briter Bridges: According to the market intelligence firm, African startups raised $5.4 Briter Bridges recorded $5.2 Kenya is a close second with $1.1
Phoenix, Arizona: Defining and Targeting Your Audience: Marketing for Nonprofits. Saint Paul, Minnesota: Optimizing Your Communications for Mobile | Minnesota Council of Nonprofits (Free). Mukono, Uganda: Second Term 2017 Solar Mobile Computer Training Meetup for Kibiribiri Primary School. Friday, August 11, 2017.
We are here to talk about the next wave, what are those emerging trends in nonprofit social media marketing. We’re going to talk about Emerging Trends in Nonprofit Social Media Marketing. I am a former development and marketing director. Peace Corps in Senegal in West Africa. I actually loved marketing.
Automotive e-commerce company Autochek has expanded to new markets in Africa after acquiring CoinAfrique, a classified ad marketplace, nearly two months after the Nigerian startup acquired Moroccan auto marketplace KIFAL Auto , marking its foray into North Africa. CoinAfrique classifieds ads marketplace is active in 12 Francophone markets.
A region of more than 200 million people using the CFA franc, Francophone Africa is one of the most crypto-friendly markets in Africa. But only a few players are taking advantage of the market, which can make a case as the next frontier for mobile money and investment apps in Africa.
The Togo- and Singapore-based company received investment from AAIC, Thunes (TransferTo), Momentum Ventures (SMRT), Innoport Ventures (Schulte Group), CMC Ventures (National Express) and Liil Ventures (Mobility ADO). This way, individual users can exchange cash for mobile money via the Gozem app. “
It went live with its mobile and internet banking service in 2016 and launched an instant card issuance product in 2017. Other countries with a presence include the Democratic Republic of Congo, Ghana, Gambia, Guinea, Tanzania and Senegal. In 2011, the company launched its first core banking product targeting microfinance institutions.
But in 2020, the France-based and Africa-focused startup pivoted to a new market: business owners in off-grid locations in Africa and emerging markets, starting with Nigeria. These people find it difficult to feed their families because 40% of their food gets spoilt even before getting to the market.
We help these startups build their teams, iterate where needed, until we find a market fit product,” said Kamara. In the interim, the lab is planning on establishing a presence in Democratic Republic of Congo (DRC), Senegal and Ivory Coast, and considering a franchise model to help it fast track its growth. Not just one,” said Kiwia.
In addition to connecting their mobile money accounts and accessing crypto, users could also make cross-border transactions via stablecoins. Last October, it had 8,000 users from Cameroon, its first market and others including Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal.
Last year the EEGF invested in Baobab+ and Yellow, both offering pay-to-own solar energy solutions, and Redavia, which designs and installs mobile solar farms for businesses. Baobab+ has operations in Mali, Senegal, Madagascar and Côte d’Ivoire, and is planning to enter Nigeria and the Democratic Republic of Congo markets.
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