TechCrunch

MAY 26, 2021

Chinese-backed and Africa-focused fintech platform OPay is in talks to raise up to $400 million, The Information reported today. The $170 million raised so far came from mainly Chinese investors who have collectively begun to bet big on African startups over the past few years. OPay plays in an extremely competitive fintech market.

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TechCrunch

FEBRUARY 7, 2022

Lagos- and Texas-based digital healthcare provider Reliance Health is the latest beneficiary and is doing so in grand style, raising $40 million. Reports say healthtech in Africa should reach a market value of over US$11 billion by 2025 and Reliance Health is looking to play a pivotal role in the continent reaching that capitalization. “So

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TechCrunch

SEPTEMBER 10, 2022

Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and South Africa are majorly responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth.

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TechCrunch

FEBRUARY 11, 2021

To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. Did African startups raise $496M, $1B or $2B in 2019? Fintech startups raised 24.9%

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TechCrunch

FEBRUARY 3, 2023

Months later, the company is ceasing on-ground operations in Nigeria, one of its four markets in Africa. Its fulfillment service remains unchanged in other markets. The company, which launched in Nigeria at the end of 2021, said the move was necessitated by the need to find the right kind of product for the market.

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TechCrunch

FEBRUARY 14, 2022

Remedial Health has secured $1 million in pre-seed funding to digitize pharmacies and stem the supply of fake and substandard pharmaceutical products, starting with Nigeria before expanding to the rest of Africa. Other notable startups in the space are Kenya’s MyDawa, Ghana’s mPharma and Nigeria’s DrugStoc.

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TechCrunch

FEBRUARY 16, 2022

Nigeria has an average of 4.8 It’s a thriving business for banks, larger fintechs such as OPay and TeamApt, and even smaller ones like CrowdForce , who today is announcing that it has raised a $3.6 “ When you look at most of the successful companies in Nigeria, they all had to build some sort of offline distribution.”.

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TechCrunch

APRIL 12, 2021

The company based in Lagos, Nigeria, was founded by Emeka Emetarom , Obi Emetarom and Wale Onawunmi in 2008. Nigeria is becoming Africa’s unofficial tech capital. One way it wants to carry this out will be to take its pan-African expansion seriously even though a large part of its 450 clients are based in Nigeria.

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Technology Nigeria Raise Africa 145

TechCrunch

MAY 4, 2022

And in trying to sweet-talk investors, what’s not taken into context or often disregarded is that Africa is a fragmented $3 trillion market. Trade has the least startup activity in a market that received $5 billion in VC funding last year. The continent is also home to more than 1.2

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TechCrunch

JANUARY 12, 2022

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

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TechCrunch

AUGUST 6, 2021

This past decade, Nigeria has seen several companies cater to the development and growth of software engineers and tech talent in general. Nwobi says Decagon aims to address the underrepresentation of black people in tech globally, starting with Nigeria. also took part.

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TechCrunch

MARCH 7, 2022

Today, the unified payments app is announcing that it has raised $32.8 So, u sers from different countries — Ghana, Nigeria and Kenya, for now — can connect their bank or mobile money accounts to Dash, pay bills, and send and receive money to other users while the platform handles currency conversions.

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TechCrunch

MARCH 9, 2021

In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding. . When the company raised its Series B, we reported that Flutterwave had processed 107 million transactions worth $5.4 African fintech firm Flutterwave raises $35M, partners with Worldpay.

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Companies Raise Africa Nigeria 145

TechCrunch

FEBRUARY 1, 2022

AltSchool, which is now Altitude Learning) has raised $1 million in pre-seed funding to scale its efforts, said chief executive Adewale Yusuf to TechCrunch. Nigeria has a population of almost 200 million, with 60% under the age of 25. Nigeria’s Decagon raises millions to finance and train software engineers.

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TechCrunch

MAY 24, 2021

The investment comes nine months after the company raised $500,000 in pre-seed last September and two months after receiving $125,000 from YC. When we covered the company early in the year, it had already secured partnerships with more than 16 financial institutions in Nigeria. “The way I see it, our market is not that big.

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Africa Internet Ghana Raise 145

TechCrunch

NOVEMBER 1, 2021

The continent’s retail markets are highly fragmented and mostly made up of small and informal retailers and intermediaries, which is why a ton of tomatoes that costs around $100 in the U.S., Per Crunchbase , Twiga has raised over $100 million in both debt and equity financing rounds. for instance, costs about $400 in Kenya.

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Africa Kenya Raise Nigeria 144

TechCrunch

JANUARY 26, 2022

Husk Power Systems , a clean energy company that has been at the forefront of fueling rural electrification since 2008, is planning to launch 500 solar mini-grids in Nigeria over the next five years. In November last year, Husk launched its first six mini-grids in Nigeria, and is looking to have 100 operational within two years.

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TechCrunch

DECEMBER 1, 2022

Africa’s beauty and personal care market is growing accelerated by its growing young and fashion conscious population, increasing spending power, and urbanization. The market’s potential has in recent years attracted major brands, with Fenty Beauty by Rihanna and LVMH being the latest entrants. Image Credits : Uncover Skincare.

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TechCrunch

APRIL 13, 2022

There’s no shortage of digital banks in Nigeria and, in general, in Africa. As the region continues to experience rapid growth in mobile usage and the corresponding growing young population, these fintechs think this is the right time to provide financial services to every market category, from the banked to the unbanked.

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TechCrunch

MARCH 29, 2022

India, with 32 startups, is the second-largest demographic represented in the new batch, while Nigeria is third, having delivered 18 startups. Thus, its platform makes it “easy for these businesses to issue corporate expense cards (Visa for now) and software, mainly for sales and marketing teams, to track and control spending.

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TechCrunch

FEBRUARY 9, 2022

Nigeria has more than 12 million registered vehicles , and approximately 90% of them are used cars that need frequent checkups to prevent recurring breakdowns. Given this number, one would expect effective vehicle maintenance to be standard in Nigeria. million seed round. .

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TechCrunch

MARCH 18, 2021

” The company, which currently offers mobile-first banking services in Nigeria, has picked up $25 million in a Series A being led by Valar Ventures, the firm co-founded and backed by Peter Thiel, with Target Global and other unnamed investors participating. “We closed February at $2.2 ” Image Credits: Kuda.

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TechCrunch

AUGUST 9, 2021

In Nigeria, owning a car is a luxury very few people can afford. Moove , an African mobility company with a fintech play, wants to change that, and is raising $23 million in Series A to scale rapidly across the continent. Moove’s loan repayment process is more suitable to drivers than what traditionally exists in the market.

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Africa South Africa Nigeria Raise 126

TechCrunch

AUGUST 23, 2021

Chinese-backed and Africa-focused fintech company OPay raised $400 million in new financing led by SoftBank Vision Fund 2, Bloomberg reported Monday, valuing the company at $2 billion. This news comes three months after The Information reported that the company was in talks to raise “up to $400 million at a $1.5

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TechCrunch

OCTOBER 13, 2021

Living in Lagos, the commercial city of Nigeria, is not for the faint of heart. Though restaurants and domestic cleaning companies provide options for people who want to outsource these tasks, the market is still open for providers who can offer better convenience and quality. million seed round to deepen its market share.

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Life Service Business Raise 129

TechCrunch

FEBRUARY 17, 2022

Earnipay , a fintech that provides flexible and on-demand salary access to income-earners, has raised $4 million in seed financing led by early-stage venture capital firm Canaan. Since operating in beta, Earnipay has served over 20 businesses, outsourcing firms and HR solution providers in Nigeria. 500 ($1). .

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TechCrunch

JANUARY 25, 2021

The raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018. . .” Its clientele includes the likes of the World Food Programme and Central Bank of Nigeria as well as the Zambian and Kenyan governments.

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TechCrunch

OCTOBER 19, 2022

In the latest development, Bumpa , one of them which says it is building the infrastructure to power online commerce and enable African small business owners to start, manage and grow their businesses from their mobile devices, has raised a $4 million seed round. . Integrating an ecosystem of products.

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Platform Raise Africa Nigeria 145

TechCrunch

AUGUST 6, 2021

As startups in Africa continue to grow and raise money at a ridiculous pace, so too will their cap tables expand. Raise, a startup building Africa’s Carta is tackling these challenges and has received backing from 500 Startups to scale its technology. Image Credits: Raise.

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TechCrunch

JANUARY 18, 2022

Finclusion Group , a fintech that uses AI algorithms to provide financial services to African customers via an array of credit-centric products, has raised $20 million in debt and equity pre-Series A financing. It follows the $20 million debt facility supplied by emerging markets debt provider Lendable last September.

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TechCrunch

SEPTEMBER 21, 2022

African capital markets exist in silos, as various exchanges within the continent are often inaccessible to investors outside their home countries. Per reports , major regional exchanges in Africa have raised over $80 billion in equity capital markets and $240 billion in debt capital markets.

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TechCrunch

DECEMBER 16, 2021

Collectively , they have raised over $100 million in venture capital. Fintech startups and those from Nigeria, Kenya, Egypt and South Africa get looked at the most by venture capitalists. “If The company counts more than 25,000 drivers who have completed over 40 million orders in both markets. .

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TechCrunch

NOVEMBER 25, 2021

One-year-old Sabi — a spinoff from Rensource , an African energy company that offers power-as-a-service to customers — is the latest startup to raise funds to serve the informal sector. The company confirmed to TechCrunch that it has raised a $6 million bridge round led by pan-African VC firm CRE Ventures.

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TechCrunch

DECEMBER 6, 2021

TradeDepot , a Nigeria- and U.S.-based based company that connects consumer goods brands to thousands of retailers and help out with distribution, has raised $110 million in new equity and debt funding round as it looks to bring in more retail stores and expand its buy now, pay later service across the continent.

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TechCrunch

FEBRUARY 8, 2022

But similarly to years past, the total amount raised by African startups varies among different reports. We first emphasized this issue in a 2019 piece: Did African startups raise $496M, $1B or $2B in 2019? How many deals and how much did African startups raise? Briter Bridges : African startups raised $4.9 billion to $1.5

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TechCrunch

MARCH 22, 2021

to Nigeria can be a painstaking process. Today, another YC-backed startup, Afriex — but from the Summer 2020 batch — is raising a $1.2 At the time, Afriex was only present in Nigeria and the U.S. Our goal is to build the world’s largest remittance company, starting with emerging markets.”.

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TechCrunch

OCTOBER 11, 2021

Mono , an African startup that helps connect consumers’ bank accounts to financial applications, has raised a $15 million Series A round, the company confirmed to TechCrunch today. But even with these additional features tailored to a Nigerian audience, Mono is going after other markets like Ghana and Kenya, first mentioned by the CEO in May.

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