“Binance,” one of the world’s largest cryptocurrency exchanges,” is reportedly investing $200 million in the company as it prepares to go public via a special purpose acquisition company, according to Forbes (SPAC). Binance’s investment will replace half of the $400 million in private placement commitments made by Forbes and Magnum Opus Acquisition Limited, the world’s…
LoftyInc Capital Management is a venture capital business with the goal of “creating an ecosystem of Africans investing in Africans solving African problems.” The business announced the first closing of its US$10 million LoftyInc Afropreneurs Fund 3 (LAF3) in September, as it ramped up its participation in the African startup area. This followed after…
Working from home is enjoyable and relaxing. However, it becomes a nightmare when you have a slew of tasks to complete and you’re devoting more than eight hours of your day to doing them all. Fortunately, some readily available technological upgrades can increase your productivity and allow you to complete more work in less time….
According to Partech’s report on venture capital funding in Africa, 37 African tech startups raised a total of $767 million in 43 debt rounds last year, indicating the rise of the debt funding class and increasing global lender confidence in African tech. According to the report, “Africa’s tech ecosystem has set its sights on another…
Paratus announced in February that it had reached an agreement with Google to be the landing partner for the Equiano cable in Namibia. The agreement includes the construction and management of a cable landing station for the Equiano subsea cable in Swakopmund. Paratus has already completed the construction and is on track with its aggressive…
Gozem, the super app that is already available in Lome, Cotonou, Libreville, and other West African cities, has announced the launch of its taxi booking service in Douala, Cameroon. Gozem, a taxi-hailing service launched in Togo in November 2018, now operates in 12 cities across Togo, Benin, Gabon, and Cameroon, with over one million downloads…
CrowdForce, a Y Combinator-backed agency banking platform based in Nigeria, has raised a US$3.6 million pre-Series A funding round to triple its PayForce agent network this year in order to expand its financial service offerings to underserved Nigerian communities. CrowdForce was born in 2018 as a result of a pivot and rebranding by Oluwatomi Ayorinde…
Flutterwave, a Nigeria-based fintech company, has raised $250 million in Series D funding, its single-largest investment to date, valuing the company at more than $3 billion. B Capital Group led the investment, which included new investors Alta Park Capital, Whale Rock Capital, and Lux Capital, as well as existing investors Glynn Capital, Avenir Growth, Tiger…
As the CEO of SaaS Partners, I have a front-row seat to the latest in technology. We advise and collaborate with the world’s best startups to help them leverage technology to optimize their operations and achieve serious scale. I can’t think of a single conversation I’ve had with a tech founder in the last year…
Digital Africa, a French government-supported organization that helps African tech startups, has announced that it will provide 70 million euros ($79 million) in seed and Series A funding by 2025. In a press conference, the initiative’s executive director, Stephan Eloise-Gras, stated that Digital Africa aims to fund 200 African startups with seed funding ranging from…
DigsConnect, a South African student accommodation marketplace, now has over one million listed beds. The DigsConnect platform, launched in 2018 by Alexandria Procter and Greg Ramsay-Keal, allows landlords, estate agents, and property managers to post their property listings, with students then searching and filtering through these listings to find accommodation that meets their needs, as…
Instagram is launching a new way to interact with Stories. The photo and video sharing platform has introduced a new Private Story Likes feature, which allows users to like other people’s Instagram Stories without sending a direct message (DM). Previously, users could only re-share the stories or leave a comment on them. In addition, responses…
The story of non-fungible tokens (NFTs) has recently spread like wildfire, and Africa has joined the party. Some of these digital assets, ranging from art and music to games and videos, are worth millions of dollars. In case you’re unfamiliar, NFTs are unique and non-interchangeable units of data on the blockchain, a digital ledger that…
Bayo Adekanmbi has been appointed to lead Airtel Africa’s strategy, partnership, and sustainability roadmap. The position is based at the company’s headquarters in the United Kingdom, and Adekanmbi is now a member of the executive committee and reports directly to the CEO, Segun Ogunsanya. Adekanmbi will be “responsible for leading strategic business-wide initiatives, including innovation,…
According to a recent TIME article, Meta-owned Facebook has come under fire for its treatment of African content moderators. TIME revealed that Sama, the company in charge of Facebook’s Sub-Saharan Africa content moderation since 2019, was subjecting content moderators in Nairobi to poor pay and working conditions. Sama also provides data labeling services to tech…
MoneyHash, an Egyptian fintech startup that uses a universal API and a unified checkout experience to help businesses consolidate and grow their payments and financial tech stack, has announced a US$3 million pre-seed funding round as it exits beta and prepares to launch across the Middle East and Africa, has announced a US$3 million pre-seed…
Ndovu, a Kenyan wealth-tech startup, has begun operations after securing a pre-seed funding round in October, with the goal of providing users with easy access to global financial markets. Ndovu, which was founded in 2020 by Radhika Bhachu, Ro Nyangeri, and Gianpaolo De Biase and is available on iOS and Android, allows users to invest…
Nawy, an Egyptian prop-tech startup, has raised $5 million in seed funding to help it expand across the region. Nawy, founded in 2016 by Mohamed Abou Ghanima, Abdel-Azim Osman, Ahmed Rafea, Aly Rafea, and Mostafa El Beltagy, allows users to search for homes online based on criteria such as unit size, price, and location. So…
Stitch, a South African API fintech startup, has raised a Series A funding round of US$21 million to expand its team, launch new product offerings, and enter new markets across the continent. The Stitch API enables developers to quickly connect apps to financial accounts, allowing their users to share transaction histories and balances, confirm their…
A Nigerian rights group has asked the High Court to compel the government to publish an agreement with Twitter that resulted in the social media company’s services being restored last month after a six-month ban. Last June, Nigeria suspended Twitter after the US company removed a post by President Muhammadu Buhari threatening to punish regional…
Remedial Health has received a $1 million pre-seed investment to digitize pharmacies and reduce the supply of counterfeit and substandard pharmaceutical products, beginning in Nigeria and expanding to the rest of Africa. Global Ventures and Ventures Platform led the round, with participation from Ingressive Capital, Voltron Capital, Opeyemi Awoyemi’s (Jobberman co-founder) Angel Syndicate Fund, and…
Google honors Valentine’s Day with an interactive 3D Doodle featuring two hamsters expressing affection for each other. Users must solve the puzzle in order for the hamsters in the Doodle to clear their path for the meeting. The interactive Google Doodle can be shared online with your loved ones to commemorate Valentine’s Day 2022. It…
Finance options and transactions are undergoing a massive transformation all over the world. Payments, lending, asset, and wealth management are all being reshaped by digital technologies as individuals and organizations adopt more effective digital solutions to solve problems in virtually every aspect of life. Nigeria’s financial landscape has not lagged. According to a McKinsey report…
Payment structure narratives are changing as a result of technological advancements. Naturally, this convenience increases the risk of payment fraud. Each new payment method carries its own set of risks. Evina, a mobile anti-fraud specialist, examined the prevalence and evolution of this threat in 2021, with a focus on the African continent and the Middle…
Malawi’s government and the African Development Fund (ADF) have agreed to a $14.2 million grant to improve infrastructure and create a more efficient and transparent digital payment system. The Bank Group’s concessional financing window, ADF, will provide funding for the December-approved Support for Digitalization, Financial Inclusion, and Competitiveness (DFIC) project. “The DFIC project is aligned…
South Africa has asked a court to fine Huawei Technologies’ local unit for violating hiring rules and to order the company to change its practices, the labor department announced on Friday. According to the department, approximately 90 percent of the company’s employees were foreign nationals, in violation of “employment equity” regulations that impose a 40…
Financial management no longer entails poring over blotchy ledgers. Even the tried-and-true spreadsheet has become obsolete. Instead, there are a plethora of useful tools and apps that can manage the majority of your company’s finances with the click of a button – and in some cases, automatically – without you having to do anything. Competition…
WhatsApp has begun to roll out a new voice call interface. The most recent rollout is only available to a limited number of Android beta testers. Waveforms for group voice calls are also stored on the device. In addition to the updated voice call interface in the new beta release, WhatsApp has been spotted working…
Twitter said on Friday that it had fixed a software bug in its microblogging website that had caused service disruptions for thousands of its users. Twitter had previously stated on its status page that it was experiencing an increase in the number of application programming interface errors, which are a set of protocols for developing…
Nawah Scientific, an Egyptian life sciences and biotech startup, has received funding from the Cairo Angels Syndicate Fund (CASF) as part of its ongoing Series A round. Nawah Scientific, which was founded in 2015, is an online platform that receives experiment requests, collects samples, conducts tests, and digitally returns results. Its goal is to allow…