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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. 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.
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. However, its staff cuts across its five markets, Tunisia, Kenya, the U.S.,
PAPS , a Senegal-based logistics and delivery company, is filling this gap in its region by offering customers various logistics services. The gap that we are filling is one that all these big corporations didn’t want it to address, which is the domestic market. Today the company is announcing that it has raised a $4.5
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.
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.
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.
“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.
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
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.”
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.
HotelOnline , a Kenya-based Yanolja-backed travel technology scale-up that fashions itself as an e-commerce and digital marketing enabler in the hospitality industry, has acquired HotelPlus, a software provider with clients in 22 countries. million in shares in HotelOnline, which was valued at $24 million before the deal.
It also defines African startups as companies with their primary market, in terms of operations or revenues, in Africa — not based on HQ or incorporation. Senegal took the fifth spot with $353 million, while Ghana was sixth ($167 million). Startups in Senegal received more than $222 million, placing the country in fifth.
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.
In Ivory Coast, one of Francophone Africa’s largest mobile money markets, 75% of the population own a mobile money account, compared to 20% who hold bank accounts. Julaya also received investment from its CFO and country manager in Senegal. It was meaningful for Édouard Mendy because he’s Senegalese.”.
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. The company is led by CEO Nikolai Barnwell , betPawa’s former head of New Markets, Africa. This huge market is why mobile money is prevalent across the continent.
In addition to Tunisia, GOMYCODE is present in Bahrain, Morocco, Egypt, Algeria, Ivory Coast, Senegal and Nigeria. It offers over 30 learning tracks ranging from web development to digital marketing and data science to artificial intelligence. There are a lot of impact and mass market players. GOMYCODE utilizes the latter.
However, the fact remains that across Africa and other emerging markets, there are still millions of smallholder farmers with risks to their livelihoods that have not been covered.” Therefore, the new financing will scale up operations in its existing 13 markets across Africa, where it has insured over 4.3 million farmers.
.” The Ivorian startup acts as an online and point-of-sale payment solution for merchants to process payment from more than 130 different payment operators — mobile-money, bank cards, wallets — in nine French-speaking African countries: Ivory Coast, Senegal, Cameroon, Mali, Burkina Faso, Togo, Congo, Guinea and Benin.
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.
With a presence in six African countries — Nigeria, Ghana, Senegal, Liberia, Kenya and Uganda — Helium Health has signed more than 500 healthcare facilities. If they do, they’re doing it at a price point that’s so high that they’ve already priced out the market in that sense,” Olubusi said to TechCrunch. Helium Health.
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.
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. Accelerators provide all-round support to early-stage startups, including helping them find product-market fit, funding and access to investors.
The e-commerce platform is available in 11 markets across Africa, including Algeria, Senegal, Tunisia, Ivory Coast, Uganda and Morocco. Jumia is currently the biggest e-commerce platform in Africa, leading hundreds of others, including Nigeria’s Marketplace Africa and South Africa’s Souq, and bidorbuy.
One is access to markets , which alone is a huge source of food waste, and the other is food security because of a lack of stable growing conditions exacerbated by climate change. Apeel gets more cash to fight poverty and food insecurity in emerging markets with its food-preserving tech.
This isn’t an issue in developed markets, as healthcare systems change with the times to adequately provide healthcare when necessary. And in a bid to continue providing affordable and accessible healthcare for its customers in Ivory Coast, Senegal and Cameroon, the Ivorian startup is being backed with $1 million in pre-seed funding.
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
And while the pitches are diverse, some concentrations show key ways that a group of vetted entrepreneurs are thinking about the landscape’s shift in light of finicky venture markets, a downturn, and some public market meltdowns. Swizerland, India, Nigeria, Senegal and other geographies. And this batch supports that realization.
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.
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
According to the accelerator, six new countries home to these companies are making their appearance for the first time : Algeria, Tunisia, Senegal, Chile, Brazil and Singapore. YC says 16% of the companies in its current list (44 out of 267) are based outside the U.S., compared to its first list, which included just seven non-U.S.
Jumia reaches lowest losses in four years under new management In Q4 2022, Jumia embarked on a streamlining effort that reduced its headcount by 20%, affecting 900 roles across 11 markets. Building supply is the right thing to do, especially in a tough market and macroeconomic context. People want cheaper products and better deals.
It was the perfect marketing required to onboard several customers in Africa and challenge Binance , the world’s largest crypto exchange by volume, for market share. But as FTX and its chief executive undergo criminal investigation, this event will push forward regulatory changes for crypto across various markets.
As part of the agreement, both organizations will target financial institutions serving the needs of vulnerable populations and provide financial capital and training in support of the development of the education sector in the target markets.
Phoenix, Arizona: Defining and Targeting Your Audience: Marketing for Nonprofits. Dakar, Senegal: Concours de Présentation des Projets. San Francisco, California: Code for America Civic Hack Night. Los Angeles, California: Web Accessibility: Designing Inclusive User Experiences. Friday, August 11, 2017. Mukono, Uganda.
Informal retailers are unlicensed and unregistered retailers that don’t report to tax agencies, typically operating out of open markets and shops. Founded in 2020, the Nigeria-based startup claims to have distributed over 140,000 goods to retail customers in Nigeria, Ivory Coast and Senegal and fielded over 20,000 orders.
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.
These challenges befall millions of micro-retailers across the continent, and Betastore , a B2B retail marketplace for informal retailers, is working to resolve in Nigeria, Ivory Coast and Senegal. We plan to enter new markets before the end of the year and to expand to 100 cities across Nigeria, Ivory Coast and Senegal.
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.
And so the key difference in the market is this. This is where we’ve seen the big opportunities in Francophone as a nice market.”. And having built companies in Singapore before Gozem, Dana and Costamagna brought Ajene on board, adding his on-the-ground African expertise to a team with vast knowledge of the Southeast Asian market.
Other countries with a presence include the Democratic Republic of Congo, Ghana, Gambia, Guinea, Tanzania and Senegal. Before now, Appzone lacked the resources to push into these markets aggressively even though they showed promise.
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.
Last October, it had 8,000 users from Cameroon, its first market and others including Ivory Coast, Burkina Faso, Mali, Guinea, and Senegal. Nobody is targeting the woman selling the markets or the man driving a motorbike for a living. That’s two similar events across different Francophone markets in quick succession.
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