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Wave, a Stripe-backed African fintech valued at $1.7 billion, cut 15% of its staff in June

TechCrunch

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

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Senegal’s logistics tech startup Chargel raises $2.5M seed funding

TechCrunch

Some market research made them aware of the full extent of inefficiencies in the trucking business, which especially limited the earnings of owner-operators. We realized that there were so many inefficiencies, and that the logistics sector in Senegal was so fragmented, but we felt that technology could help.

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Sequoia Heritage, Stripe and others invest $200M in African fintech Wave at $1.7B valuation

TechCrunch

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. But despite being one of the largest alternative financial infrastructures known globally, this represents only a fraction of the overall market. . Wave , a U.S.

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Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange

TechCrunch

PAPS , a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics services. The platform caters to small to large businesses, assisting them with their logistics needs, from storage and international transport to last-mile delivery.

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Norebase raises $1M to allow companies start, scale, and operate in any African country

TechCrunch

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 “From telling us to set up takes days.

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Seedstars launches second fund to invest in 100 startups in emerging markets

TechCrunch

Now it’s set a goal of investing in 100 more startups with the launch of its second emerging market seed-stage fund, called Seedstars International Ventures II (SIV), with a first close of $20 million. We’re really looking to diversify holdings, leveraging learnings from one market to another,” said Sosrodjojo.

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Sokowatch rebrands to Wasoko as it raises $125M Series B from Tiger Global and Avenir

TechCrunch

B2B retail and e-commerce platforms have primarily tried to fix these inefficient supply chains over the last couple of years and have received substantial investor backing since the pandemic. And what started in Kenya soon scaled into neighboring East African markets Tanzania, Rwanda and Uganda in 2018.

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