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Nigeria Tag

Nigeria’s Print-On-Demand Startup Expands To United States And Canada After South Africa

Nigeria’s fast growing print-on-demand startup, Kiakiaprint has taken the bull by the horn in the quest for expansion beyond the African continent with their eyes on the American continent by going live in the North American countries of Canada and the United States. The expansion news in July 2020 coincided with the startup’s partnership with online design and publishing company, Canva. Kiakiaprint’s deal with Canva gives its Nigerian and South African customers options to either upload a design, hire a designer on the platform, or use Canva’s designs before printing. Customers in South Africa and Nigeria have access to 9 and 19 product catalogues on the site, respectively....

UK Group Launches £2m COVID-19 Fund For MSMEs In Nigeria

A group affiliated to the United Kingdom’s government, the Enhancing Financial Innovation & Access (EFInA) has launched a £2 million COVID Fund to support solutions that can reasonably provide succor to the debilitating impacts of the COVID-19 pandemic on low-income individuals/households and MSMEs in Nigeria. The funds, provided by the UK Government’s Foreign, Commonwealth & Development Office (FCDO), is expected to support financial service-enabled solutions for access to liquidity, healthcare, and food. This disclosure was made by the British Deputy High Commissioner, Ben Llewellyn-Jones, during a webinar on December 8th, which was focused on how to address most challenges posed by the COVID-19 pandemic in developing nations. According to the EFInA’s Chief...

Ghanaian Fintech Startup ZeePay Secures $940k Seed Funding From VC GOODsoil

Ghana has not seen so much venture capital in its startup ecosystem as 2020 runs out compared to South Africa, Kenya or Nigeria, but GOODsoil, an Africa-focused EU-based early stage venture capital firm is determined to make a dent, nevertheless. Headed by a diverse team of entrepreneurial investors, GOODsoil has soiled Ghanaian fintech company Zeepay with US$940 000 seed capital.  Read also: 6 Factors Standing In The Way Of Expanding Your Business “We are delighted to have GOODsoil on board,” says Zeepay co-founder and managing director Andrew Takyi-Appiah. “We believe with their strong brokerage background, with leading Ghanaian brokerage firm Obsidian Achernar in their portfolio, we will...

Nigerian Tech Closes A Six-Figure Seed Round

Indicina, a Nigerian-based data-driven lending platform that aims to digitise the credit value chain has closed a six-figure seed round led by Green House Capital. Green House Capital, an investment company, led the fund with roughly 30% of the round.  The funding will be used for product expansion and deepening Indicina’s artificial intelligence (AI) capabilities. Read also: Small Business Suggestions With Small Investment in Kenya Indicina assists businesses in making smarter credit decisions. The data-driven platform is used to create credit rules and models as well as to understand credit assessment and scoring.  The platform offers end-to-end loan portfolio management and loan collections that are used by banks, insurers, consumer-finance, and...

Umba, The Digital Bank For Africa Raises $2M In Funding To Expand In Nigeria & Kenya

Umba, the digital bank for emerging markets has raised $2 million seed funding round to expand product capabilities in Kenya and Nigeria where it’s currently operating. The $2 million seed round was from Ludlow Ventures and Lachy Groom, ex Head of Issuing at Stripe. Frontline Ventures and Act Venture Capital added to their previous investment in the company. According to Umba’s CEO, Tiernan Kennedy, “From the outset we built our platform to serve multiple markets, currencies and payment infrastructures. This flexibility is an extremely important consideration as it’s much harder to upgrade your systems at a later date. For example bank and debit card penetration is high...

Nigerian Fintech Startup OnePipe Secures $950k In Pre-seed Round

OnePipe, a Nigerian fintech startup has secured a US$950,000 pre-seed funding round to implement its “banking as a service” solution. With the funding, the startup plans to expand its user base.  “All of us on the OnePipe team are firm believers in the open banking movement and what we believe it can do for financial services adoption in the world. While we are actively participating with the Open Banking Nigeria group to bring awareness and drive policy around it, we have created a gateway that pools APIs from multiple sources together under a unified specification that can very easily be refined to fit the final standards once the...

Fintech Startup Blueloop Has Secured US$77k Pre-Seed Funding In The Last Few Months

NIGERIA – Blueloop, a Nigerian fintech startup, has taken on US$77,000 in pre-seed funding from Hustle Fund VC, Pioneer, Mozilla, and some angel investors this year as it builds Flux, a mobile app for crypto-based cross-border payments. Founded by Ben Eluan, Osezele Orukpe and Israel Akintunde, Blueloop is the company behind Flux, a mobile payments app for cross-border payments using cryptocurrencies. Using Flux, individuals and businesses can send and receive money from anywhere in the world, instantly convert it into cash, and spend it locally from their Flux Wallets. Read also: AfricInvest Invests In South African Agritech Startup Aerobotics In Its $16.5m Series B Round Flux works like a...

Infrastructure Credit Guarantee InfraCredit Secures US$27m Equity Investment From InfraCo Africa

NIGERIA – InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), has completed an approximately US$27m equity investment into InfraCredit, a specialised local currency infrastructure credit guarantee institution based in Lagos, Nigeria. InfraCo Africa’s equity investment, made through its dedicated investment vehicle, makes InfraCo Africa an equivalent shareholder alongside the Nigeria Sovereign Investment Authority (NSIA) and Africa Finance Corporation. Read also: A New $4 Million Fund Launched For Off-grid Companies In Kenya By AECF Gilles Vaes, CEO of InfraCo Africa, and Claire Jarratt, CIO of InfraCo Africa, will join InfraCredit’s Board of Directors. “Our equity investment in InfraCredit marks the first major transaction of our dedicated investment vehicle, InfraCo...

Nairobi-Based Startup OkHi Launches In Nigeria

A smart addressing startup, based in Nairobi OkHi, has partnered with Africa’s largest banking platform,  Interswitch to launch in Africa’s largest market, Nigeria.  The partnership aims to assist OkHi’s objective which is to provide 195-million Nigerians with access to a physical address. This will in turn lead to accelerating the eCommerce sector and ensuring financial inclusion. The launch in Nigeria will reportedly save the economy $2-billion a year and accelerate innovation across the economy. Read also: Egyptian Fintech Startup Zeal Rewards Secures Six-Figure Seed Funding OkHi is a smart addressing startup. Smart addressing systems allow people to attach a phone number, email address, and their account details to make convenient payments without...

Cameroonian Media Startup StarNews Mobile Raises Funds From Investisseurs & Partenaires

Media startups in Africa are increasingly getting the attention of VCs too! Following recent investments in Space In Africa, Stears, and Wee Media, investors have again gone for StarNews Mobile, the Cameroon-headquartered pan-African mobile content platform. The startup has announced investments from Africa-focused investor Investisseurs & Partenaires ( I & P) as well as from the California-based international accelerator Expert DOJO. The investment will enable the startup to build local teams in Abidjan, Douala, Johannesburg and Lagos. Read also: Five Tips For SMMEs To Overcome The Pandemic “Despite the generalization of smartphones and increasing access on the mobile internet, value-added service offers are not very ‘Africanized’ and even when...

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