Lorem ipsum proin gravida nibh vel velit auctor aliquetenean idelit sollicitudin, lorem quis bibendum auci elit consequat ipsutis sem.
1-677-124-44227

info@yourbusiness.com

184 Main Collins Street | West victoria 8007

Follow us On Instagram

Lorem ipsum proin gravida nibh vel velit auctor alique tenean sollicitudin, lorem quis.
Top

Nigeria Tag

Fintech Startup CredPal Secures US$1.5m In Funding Round For Credit Cards Adoption And Usability

NIGERIA – CredPal, Nigerian consumer fintech startup, has announced its raise of US$1.5 million in a recent funding round from leading investors to drive adoption and usability of credit cards in the country. The investors that took part in this round include US seed-stage accelerator, Y Combinator, Lagos-based fintech investment holding company, GreenHouse Capital, an unnamed digital insurance company, and other VC firms. Founded by Fehintolu Olaogun and Olorunfemi Jegede in 2018, CredPal started with of providing point-of-sale consumer credit to lower-to-middle class income earners in Nigeria. Read also: Asian VC, Sherpa Ventures, Comes For African Startups With A New $1m Debut Fund With this new investment round, Olaogun says...

Private Equity Manager AIIM Completes Its Capital Increase Of US$80m For Its AIIF3 Fund

AFRICA – Private equity manager African Infrastructure Investment Managers (AIIM) has successfully completed a capital increase of US$80 million for its flagship African Infrastructure Investment Fund 3 (AIIF3) fund. The capital increase takes the total commitments for AIIF3 to US$400m and represents one of the largest capital raises closed for an African fund since the advent of the COVID-19 pandemic. Read also: Does Your Startup Need Venture Capital Money? “We are delighted with the continued faith placed in AIIM’s strategy for AIIF3 by some of the most experienced African fund investors. AIIF3 continues its strategy of targeting mid-market opportunities, focusing on executing deals in the US$20m-60m range – a...

First Bank Launches ATM Without Physical Interactions Fast Track ATM

NIGERIA – First Bank of Nigeria Limited, a premier commercial bank, has launched the FastTrack ATM, a Next Generation ATM and first of its kind in Africa, designed to promote financial activities on the ATM devoid of any form of physical interaction with the machine. The introduction of the FastTrack ATM which is done in partnership with Inlaks enables customers carry out cash withdrawals without having to touch the interface of the ATM. Read also: Sarwa Capital Closed Its Inaugural Sukuk Issuance Of US$ 159.84m, The First In Egypt With the FastTrack ATM, widely referred to as Touchless Solution, the customer carries out the transaction by using his or...

Fintech Startup Pass Raises Pre-Seed Round In Its Expansion Plan

NIGERIA – Fintech startup Pass has announced that it has embarked on a major operational expansion with the raising of pre-seed round that included angel investors from across US, Dubai and Nigeria. Pass is a technology company that is improving the online shopping experience by making the process of checking out easy and seamless for online shoppers through its one-click checkout platform. Read also: Egyptian Ecommerce Startup ExpandCart Raises $2.5 Million Series A It was founded by Eze Samuel, a second time founder; with the goal of making online shopping easy, seamless, and fast for buyers of goods online, by reducing the checkout experience to a single click. “We are very excited about this round of investment as it will help us unlock the...

Nigerian Agritech Startup Secures $40k Prize

Femi Aiki, CEO of Foodlocker comments on winning first place in the category of mature business category prize. “The seed funding provides “a lot of fuel for the road” for his business. Now we can afford to buy more inputs. We can now afford to bring on board more experts in those value chains who can support smallholder farmers more remotely…That money will support the company to get results.” The ADB AgriPitch competition awarded a total of $120 000 in prizes to African youth agripreneurs at this year’s awards. With three categories in this year’s awards; early startup, mature startup, and women-empowered startups, the competition offers young...

Nigerian Autochek Startup, Cheki, Raises $3.4m Seed For Its Platform

Nigerian car platform Autochek is starting life with a silver spoon. In September, a month before it was officially launched, it announced it was acquiring ROAM Africa (Ringier One Africa Media)’s car marketplaces Cheki Nigeria and Cheki Ghana, to build a seamless and safe automotive commerce experience across Africa, starting with Nigeria and Ghana. And yet, one month after that acquisition deal was sealed, Autochek is back to the deal table, this time securing $3.4m in seed funding, from VC fund TLcom Capital and and the US-based 4DX ventures.  “The used car market in Africa is a $45 billion a year market that has only a...

4 Months After Raising $13.8m, African Startup Chipper Cash Secures Another $30m, Backed By World Richest Man Bezos

The Coronavirus has not gone but African startups are laughing last. Streams of funds are still pouring in and Jeff Bezos, the world’s richest man has just shown his first investment interest in an African startup. And this would mean many things, going forward. But in the meantime, Cross-border fintech startup Chipper Cash has announced it has raised $30 million in Series B funding round. “It’s a big deal when a world class investor like Bezos or Ribbit goes out of their sweet spot to a new area where they previously haven’t done investments,” Chipper Cash founder Ham Serunjogi said. “Ultimately, the winner of those things happening is the African...

Fintech Firm JUMO Gives US$2.5b Credit To Their Markets In Africa And Asia

AFRICA – Fintech firm JUMO, has extended over US$2.5-billion in credit in their six markets in Africa and Asia. A statement released by the company says the milestone was reached just over 18 months after crossing the US$1 billion mark in 2019, “and indicates exponential growth in the access to and availability of working capital for customers, with an average customer default rate of less than 5%.” Andrew Watkins-Ball, Founder & Group CEO, said this achievement is evidence of the success of JUMO’s unique business model, its ability to reach unbanked populations and to provide market-leading infrastructure for financial services. Read also: TalentQL Raises $300k Pre-seed Funding Round “The thing that makes me most proud of this milestone...

CrossBoundary Energy Raises $40M To Scale Financed Solar for Businesses In Africa

Pan African energy firm driving energy transition across the continent, CrossBoundary Energy is currently operating or delivering $57M in assets, serving 20 customers across 8 countries in Africa, including more than 40MW of fully financed solar PV and 10 MWh of battery storage projects; transaction provides an exit for initial investors at 15% IRR and provides a powerful proof of concept for blended finance, returning a profit to the US Treasury on USAID’s catalytic first-loss contribution; $40M of new funding enables the scaling of CrossBoundary Energy’s commercial and industrial solar services to provide many more African businesses with access to cheaper, cleaner power ; support from institutional investors and ongoing...

MultiChoice Acquires 20% Stake In BetKing For US$116m

SOUTH AFRICA – MultiChoice Group has expanded its repertoire with an agreement to buy a 20% stake in Africa-focused sports-betting platform BetKing for as much as US$116 million, giving it access to a sector that emerged as a winner from lock down restrictions that have encouraged home-bound entertainment. “Sports betting is an interesting market that is aligned to our pay-TV business,” said MultiChoice CEO Calvo Mawela in an interview. “We have a lot of sport on our platform, and many people that are betting watch more games.” he said. Read also: New Report From Google Says Africa’s Internet Economy Would Be Worth $180 Billion By 2025 DStv packages include live English soccer, while MultiChoice agreed to a deal with Walt Disney...

Select your currency