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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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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. However, its staff cuts across its five markets, Tunisia, Kenya, the 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 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

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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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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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Taptap Send raises $65M to build cross-border remittances focused on the most underserved markets

TechCrunch

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.

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

TechCrunch

“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.

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