Glovo to double down African investment in the next 12 months but will it stay put? Tech and Gaming Blog Technology by Tage Kene-Okafor - September 7, 20210 Spanish on-demand delivery platform Glovo today announced plans to double its investment in Africa and expand its operations on the continent. The Barcelona-based company has invested up to €25M ($30M) by bringing its food delivery service to six African countries — Morocco, Uganda, Kenya, Ghana, Côte d’Ivoire, and Nigeria. Glovo is available
Sequoia Heritage, Stripe and others invest $200M in African fintech Wave at $1.7B valuation Tech and Gaming Blog Technology by Tage Kene-Okafor - September 7, 20210 Francophone Africa has its first unicorn, and if you’ve been following tech on the continent, you will be very unsurprised to hear that it’s coming from the world of fintech. Wave, a U.S. and Senegal-based mobile money provider, has raised $200 million in Series A round of funding. The investment is
LoftyInc Capital launches third fund at $10M for a more diverse portfolio of African startups Tech and Gaming Blog Technology by Tage Kene-Okafor - August 31, 20210 LoftyInc Capital, a pan-African VC firm, announced today that it is launching its third fund — LoftyInc Afropreneurs Fund 3 — at $10 million for tech startups in Africa. The firm has reached the first close of $5.5 million. Some of the limited partners in the vehicle include those from its
African fintech Pngme raises $15M for its financial data infrastructure platform Tech and Gaming Blog Technology by Tage Kene-Okafor - August 17, 20210 Unbundling financial data through APIs and driving data-driven insights with value-add products in Africa keeps getting more exciting as major players continue to raise more money for scale. Less than a year after its $3 million seed round, San Francisco- and Africa-based fintech Pngme has snapped up another $15 million for
Kuda, the African challenger bank, raises $55M at a $500M valuation Tech and Gaming Blog Technology by Ingrid Lunden - August 2, 20210 Kuda Bank, the London-based, Nigerian-operating startup that is taking on incumbents in the country with a mobile-first, personalised and often cheaper set of banking services built on newer, API-based infrastructure, has been on a growth tear in the last several months, and to fuel its expansion, it has now raised
Field Intelligence targets 11 African cities to expand its pharmacy inventory-management service Tech and Gaming Blog Technology by Tage Kene-Okafor - July 28, 20210 Pharmacies in Africa struggle with access to finance, but inventory management is really what bogs them down. How do pharmaceutical retailers know how much stock they need? How do they know which products to stock at a given time? How do they know what products aren’t selling? At the moment,
One of Nigeria’s high profile angel investors is launching a fund for African startups Tech and Gaming Blog Technology by Tage Kene-Okafor - July 26, 20210 Olumide Soyombo is one of the well-known active angel investors in Nigeria tech startups and Africa at large. Since he began angel investing in 2014, Soyombo has invested in 33 startups, including Stripe-owned Paystack, PiggyVest, and TeamApt. Today, the investor is announcing the launch of Voltron Capital, a Pan-African venture capital
What we learned from selling a blockchain service to African governments Tech and Gaming Blog Technology by Annie Siebert - July 20, 20210 Mohammed Ibrahim Jega Contributor Share on Twitter Mohammed Ibrahim Jega is the co-founder of Domineum Blockchain Solutions, a serial tech entrepreneur, startup adviser, fintech expert and blockchain advocate. A major attraction of Africa is its large population of 1.2 billion, which hints at a sizable addressable market. But what happens when your target
Float wants to provide liquidity to African SMBs in a way never done before Tech and Gaming Blog Technology by Tage Kene-Okafor - June 9, 20210 According to research, 85% of African SMBs have zero access to financing, and each day, African SMBs have billions locked up in receivables due to long payment cycles. This leads to cash flow problems that cause businesses to be late on important expenses and fulfilment of new orders. Jesse Ghansah and
Why SPACs aren’t targeting African startups Tech and Gaming Blog Technology by Tage Kene-Okafor - May 14, 20210 One. That’s the number of African tech companies that have gone public on the NYSE in the last 10 years. Two, if you’re counting local exchanges. The former is African-focused e-commerce company Jumia and the latter is Egyptian fintech company Fawry. As a tech company, Fawry’s listing on the Egyptian Stock