article thumbnail

Umba, a digital bank for emerging markets, raises $2M Seed funding to expand across Africa

TechCrunch

Currently operating in Kenya and Nigeria, Umba offers a digital financial service alternative to legacy African banks. Right now it’s available in Kenya and Nigeria, which have a combined population of over a quarter of a billion people. It’s clear the African market is maturing and that we’re entering a very interesting phase.”.

Africa 114
article thumbnail

These undergraduates left university to build Flux, a payments startup now in YC

TechCrunch

to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. The company witnessed this growth despite the Central Bank of Nigeria’s clampdown on crypto exchange activities. Nigeria is becoming Africa’s unofficial tech capital. ” he said.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Nigeria’s SeamlessHR raises $10M to expand HR and payroll solutions across Africa

TechCrunch

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

Africa 138
article thumbnail

Nigeria’s digital payroll platform Bento expands to Kenya, Rwanda and Ghana, to enter six other African markets in 2022

TechCrunch

Bento , Nigeria’s digital payroll and human resource management platform is expanding to Ghana, Kenya and Rwanda with plans to set up operations in six other markets in Africa over the next one year. In its next phase of expansion, Bento is eyeing Egypt, South Africa, Uganda, Tanzania, Angola and Ethiopia by the end of next year.

Ghana 93
article thumbnail

How fintech and serial founders drove African pre-seed investing to new heights in 2020

TechCrunch

million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. . Typically, pre-seed rounds are raised when the startup is still in the product development phase, yet to make revenue or discover product-market fit. Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa.

Africa 137
article thumbnail

Nigerian retail automation platform Bumpa raises $4M, led by Base10 Partners

TechCrunch

These days, small businesses in Nigeria are spoilt with options, in addition to Bumpa, for products that can digitize their operations, including bookkeeping, invoicing and inventory management. We’re evolving, and we consider our features as the foundation of what is possible with Bumpa.”. Integrating an ecosystem of products.

Platform 145
article thumbnail

New report examines Africa’s growth in the digital economy and VC investment landscape

TechCrunch

A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. The continent’s $115 billion digital economy is in its early phases. Much of the growth so far has been concentrated in four key markets: Nigeria, South Africa, Kenya and Egypt. “By

Digital 97