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Zambian card issuing fintech Union54 has raised $12 million in a seed extension round led by Tiger Global. Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API. Meanwhile, the company has learned these past few months that developing a card scheme is not a technical problem as it is a trust problem.
The raise comes after Pula closed $1 million in seed investment from Rocher Participations with support from Accion Venture Lab, Omidyar Network and several angel investors in 2018. . Pula is solving this problem by using technology and data. South African startup Aerobotics raises $17M to scale its AI-for-agriculture platform.
While working on the problem, they identified the skewed incentives when interacting with card issuers. And they launched Union54 not only to solve that problem for themselves but other fintechs. With Union54, the founders are taking on a pan-African problem, not a Zambian one.
Sudo Africa , a fintech that provides a card-issuing API for developers and businesses in Nigeria, has raised $3.7 Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API. Union54, despite being based in Zambia, has customers across Africa. million in pre-seed funding.
In its expansion phase, backed by a $3 million pre-seed funding, the startup looks to tap some of the biggest distributors and e-commerce players in Ghana, and later Nigeria, to grow beyond Kenya, Tanzania, Uganda, Zambia and Zimbabwe. Kenyan tech-enabled logistics platform Amitruck raises $4 million, embarks on Uganda, Tanzania expansion.
More and more of my time is spent around both raising money and raising awareness of how much more could be done with technology to increase social impact. We’re thrilled that today’s rapid changes in technology are opening up tremendous new ways to address the problems they face. To do so, we definitely need your help.
In a review of the year published last week, the firm noted that 21 companies in its portfolio have raised more than $33 million in funding. This represents nearly four-fold growth over a year ago when its portfolio raised $6 million (and just $3 million in 2018). Though, just eight of those companies got investments.
Upon carefully studying different models pioneered by digital-first banks such as TymeBank, Kuda, FairMoney, they saw a big gap for building a savings product that helps solve what they think is the biggest problem facing African consumers: inflation and currency devaluation. .
We needed an energy ladder and a series of products that were all connected in some ways but solve different problems for these 2.2 ” Zola has now become a technology company whose products can solve energy access problems in almost any market, the company said in a statement. billion people,” he said. ” More than 1.5
Impact Rooms offers well-rounded solutions for startup problems, from ensuring that they are investor-ready and are matched with the right investors, to raising capital. We conduct company evaluations through investor-readiness support and offer introductions to relevant service partners, and then support with capital raising.”.
The startup ecosystem was growing but I could not fail to notice the problem of accelerators. By the end of the one-year venture building program, the startups should have launched a product, onboarded, and had repeat customers, have a defined revenue model, and have raised or are in the process of closing seed funding. “We
It’s these twin problems that Samir Ibrahim and his co-founder at SunCulture , Charlie Nichols, have spent the last eight years trying to solve. African small farmers face two big problems as they look to increase productivity, Ibrahim said. The Sun Exchange raises $3M for crypto-driven solar power in Africa.
Together with partners like Salesforce, over the past 16 years (RED) has raised over $700 million dollars for global health, and (RED)-funded grants have impacted over 245 million people. The problem is that they just aren’t engaged around global health. What’s Needed To Inspire Organizations and Brands To Join a Larger Coalition?
We bring communities together to identify their top problems, needs, and priorities, and solve them internally. He ended up running for about 1,500 miles all the way to Zambia, arriving with nothing but the clothes on his back, about 90 pounds, and showing up at a refugee camp where he knew nobody. He had no idea where his family went.
Therefore, Stambolis hoped that by launching Zenysis, he’d take some of the talent and resources in Silicon Valley — and South Africa, where the company has its second headquarters — and direct them to work on problems that matter. Zenysis — which raised a $2.8 Stambolis’s reaction was triggered by the Ebola crisis in 2014.
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