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On April 16, Uganda-based two-wheel ride-hailing platform SafeBoda announced that it had completed 1 million rides in Ibadan, a southwestern city in Nigeria. The company, which first launched in Uganda, is disrupting the offline market of local motorcycles referred to as boda-bodas in Uganda and okadas in Nigeria.
Nigeria itself is home to 170 million people, a figure that is expected to rise to 400 million by 2050, and the biggest market in Africa. According to Transparency International in 2013, Nigeria was the world’s 144th most corrupt country out of the 177 countries monitored. Online shopping as tech opportunities.
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. AfricArena, a tech ecosystem accelerator, pegged deals to close between $2.25
While sextortion can happen on any platform, and between people who know each other in person, criminals and scammers have used Meta to target victims. Last year, the company removed at least 63,000 Instagram accounts in Nigeria that attempted to financially extort victims.
Nigeria’s Rensource raises $20M to power African markets by solar. Sabi is an attempt at platforming the informal sector and African trade via various online and offline channels. We’re not trying to be, you know, a tech-enabled digital distributor. Anu Adasolum (Founder and CEO, Sabi).
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. The platform also stores patients’ medical records and supports reporting and accounting. That business was pretty small.
India, with 32 startups, is the second-largest demographic represented in the new batch, while Nigeria is third, having delivered 18 startups. What it says it does : A platform for corporate expense cards and spend management for businesses in Africa. Location : Lagos, Nigeria. Location : Lagos, Nigeria. Website : [link].
However, after gaining little traction, it was clear that Bumpa had to evolve to meet the growing demands of businesses on the platform, including recording sales and bookkeeping, inventory tracking, and storing customer details. We want to be that connecting platform on the continent. Integrating an ecosystem of products.
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. seed round to scale Autochek’s platform across Africa.
The number of POS terminals in Nigeria grew from 150,000 in 2017 to 543,000 in April 2021, according to Statista. In Nigeria, POS terminals are used to process card payments at retail locations as well as for agency banking purposes, a branchless banking system where agents act like human ATMs.
For years, offline test preparation centers in Nigeria have provided after-school guidance and tutoring to students who seek to pass entrance examinations. Edtech platforms such as Edukoya have sprung up with the intent to take these models online and maintain affordability for students. Like in the U.S., Edukoya has yet to do either.
The process of digitizing the operations of mom and pop stores in Nigeria is serious business right now. Today’s news is from Alerzo , a little-known B2B e-commerce retail startup based in Ibadan, Nigeria. About one-third of the total retailers on Alerzo use the platform monthly. The company is announcing a $10.5
Shared transportation in Nigeria, Africa’s largest country by population, is a thriving business, at least when done the conventional way: offline. While most mobility tech in the country is centred around two-wheelers and car-hailing, there’s been hardly any deliberate disruption in the bus-sharing and mass transit space.
His experience from this activity, coupled with working as a technical adviser to the vice president’s office in Nigeria a couple of months back, led him to launch Norebase , a trade tech startup that has raised $1 million in a pre-seed round. “From telling us to set up takes days. Here’s a use case on how it works.
Africa Health Holdings , a healthcare startup running several hospitals, has secured $18 million in a Series A round, funds that will go toward building its “tech-forward healthcare system” across Ghana, Kenya and Nigeria. Valiant Capital, Kepple Ventures and SUNU Capital. Valiant Capital, Kepple Ventures and SUNU Capital.
Nigerian mobility tech startup Metro Africa Xpress Inc. ( The latest funding round that was led by global private equity platform, Lightrock, which is making its first investment in the African mobility space.
The tech from one startup, Electreon , is embedded in the nations first EV charging road. In 2024, the founders decided to expand on that vision with a new platform and digital strategy designed to support budding entrepreneurs. Ford Motor Co. 5,000 businesses have joined so far.In
Several platforms have sprung forth to bring stock trading opportunities in their respective markets. In Nigeria, at least four platforms offer both local and foreign stocks to individuals. Chaka is one such platform. Egyptian social e-commerce platform Taager raises $6.4M Robinhood is no exception.
Sudo Africa , a fintech that provides a card-issuing API for developers and businesses in Nigeria, has raised $3.7 At some point, we wanted to issue cards and worked with one of the local banks in Nigeria,” said CEO Bakori. This opens up a flow of opportunities for the fintechs and companies that use our platform.”.
However, over the last one decade, tech solutions are emerging to bring efficiency into the sector and make shipping cheaper, while increasing the availability of options for shippers. Amitruck , a Kenyan tech-enabled logistics platform, is one such provider of solutions that streamline the shipping market.
The API-based tool, dubbed Grow, has so far been integrated with 22 tech entities across Africa including Topship, Barter by Flutterwave, Float, Fingo and Payhippo, enabling them to either bundle their main products with insurance packages or offer insurance as a standalone service.
to reach a relative in Nigeria. Ben Eluan and Osezele Orukpe , two software engineers based in Nigeria, faced this problem in 2019. He adds that what differentiates Flux from other crypto remittance startups lies in the ease and speed of the platform’s transactions. The platform charges $0.50
The undisclosed investment comes two months after Alphabet CEO Sundar Pichai announced the tech giant’s intentions to commit $1 billion over the next five years in “tech-led initiatives”, which includes a $50 million Africa Investment Fund targeted at early- and growth-stage startups on the continent.
Microtraction , an early-stage venture capital firm based in Lagos, Nigeria, saw funding nearly quadruple for its portfolio. ” Badamosi, who returned to Nigeria from the UK in 2015, worked as the general manager for Starta Africa, an online community for African tech entrepreneurs. The introductory batch was all Nigerian.
Kuti’s comments highlight critical issues with healthcare in Nigeria: accessibility and affordability. In Nigeria and some emerging markets, it’s common for people to take healthcare for granted. In 2015, the three co-founders launched Kangpe, a telemedicine-focused startup in Nigeria with a “doctor in your pocket” slogan.
But issues around pricing, flexibility to innovate and a lack of local tech support always come up. The company based in Lagos, Nigeria, was founded by Emeka Emetarom , Obi Emetarom and Wale Onawunmi in 2008. Appzone platforms are used by 18 commercial banks and more than 450 microfinance banks in Africa. Image Credits: Appzone.
million in “expansion” funding from Aruwa Capital, a Nigeria-based early-stage growth equity and gender-lens fund. . When Dada launched the platform, its target audience was solely businesses. The decision proved a masterstroke; up until its pivot, Taeillo had sold under 200 pieces of furniture in Nigeria.
Andela has been pivotal to placing the continent’s tech talent globally. But since the unicorn changed its business model to a pure marketplace focusing on senior developers, other platforms such as AltSchool Africa are trying to fill one of the gaps it left: training people to become junior to mid-level engineers.
The e-commerce platform is now set to introduce a range of products and options including buy-now-pay-later (BNPL) financing and a new online payment option. Contact is said to be among the first financial services platforms to introduce advanced credit scoring and collection mechanisms in Egypt. “We It’s quite the right market.
As with most technologies, Africa is playing catch up in this food-tech segment. One such startup is Nigeria’s Orda , formerly known as StarKitchens. But a few startups are paying attention to the market, positioning themselves to become top players when it matures. said the CTO in a statement.
One friend reached out to Ajiboye asking if he knew of any platform where she could find new, aesthetically pleasing places to dine in, visit and take pictures. More than 36% of social media users use platforms for travel ideas, according to Statista ; over 60% of these people share photos when traveling. Social media and travel.
Amplify was another payment platform that launched during that period. However, it differentiated itself by committing to payments on social media platforms, which Nigerian digital bank Carbon was interested in when it acquired the startup in 2019.
Fashion items are among the most — if not the most — sought after on many e-commerce platforms. While general e-commerce activities between African shoppers and global brands have occurred informally via long-held relationships, several platforms have used tech to centralize these processes across various shopping brackets.
Stitch’s provides solutions for e-commerce companies, marketplaces & platforms and its leading clientele, fintechs. Some customers include wallet-based companies such as Chipper Cash and Luno ; embedded finance providers like ImaliPay ; subscription platforms like FlexClub ; and payment aggregators like Yoco. Image Credits: Stitch.
million in 2016, it was one of the largest disclosed rounds at that stage in Nigeria. . Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa. million; Nigerian automotive tech startup Autochek Africa , which raised $3.4 “We backed Fara because she’s a strong tech founder.
SunFi , the Nigerian clean tech startup that connects people and businesses who want solar energy access to payment plans that match their needs, has raised $2.325 million in seed funding. The challenge customers face with solar providers is that they want solutions they can pay small for; however, these solar platforms can’t offer.
Opeyemi Awoyemi , one of Nigeria’s well-known serial founders, is back with another outfit. On the other hand, Omolara, its operating partner, has worked as country manager of Jumia’s fintech arm in Nigeria and was a senior program manager at Facebook. And Buzzline, a mobile OS for solo entrepreneurs.
M-KOPA’s financing platform has proved helpful to this set of users since launching as an energy provider in 2011. Six years ago, it was heavily focused on East Africa, but having pulled out of Tanzania, M-KOPA is present in Kenya, Uganda, Nigeria and Ghana. A 2019 World Bank report says 85% of Africans live on less than $5.50
Vendease tries to solve the challenges and inefficiencies in Africa’s highly fragmented food sector, starting with Nigeria. Vendease says it has also employed extensive quality control measures for the food supplies on its platform at the point of delivery or acceptance into its warehouse. Image Credits: Vendease.
This comes two weeks after Nigerian bus-booking platform Plentywaka announced its participation in the program as well. Before TalentQL, Yusuf co-founded Nigeria-based tech media publication Techpoint Africa; Awoyemi co-founded online recruitment site Jobberman; and Sultan founded nonprofit tech accelerator DevCareer.
With Duplo, distributors can create unique virtual accounts for retailers and agents to make real-time payments or bank transfers, while the platform helps to reconcile their books automatically. Duplo charges a 1% fee for every transaction performed on its platform. But in the FMCG industry, there’s isn’t a one-size-fits-all approach.
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. African tech took center stage in 2021. The Dash team. Image Credits: Dash.
Flutterwave says more than 290,000 businesses use its platform to carry out payments. ” In a statement, Agboola gives credit to the company’s more than 300 staff, investors, customers and regulatory bodies like the Central Bank of Nigeria (CBN) for creating the backbone for Flutterwave’s success.
In Nigeria, owning a car is a luxury very few people can afford. Delano tells TechCrunch that inasmuch as Moove is changing how people have access to new cars in Africa, he wants the company to solve some of the unemployment problems facing the continent, even more so in Nigeria. sold more than 17 million new cars that same year.
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