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Africa Roundup: Nigerian fintech gets $360M, mints unicorn, draws Chinese VC

Africa Roundup: Nigerian fintech gets 0M, mints unicorn, draws Chinese VC November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian focused payment ventures. That is equivalent to roughly one-third of all the startup VC raised […]

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Sim Shagaya’s uLesson African edtech startup raises $3.1M

Sim Shagaya’s uLesson African edtech startup raises .1M Nigerian founder Sim Shagaya is back with a new startup —  uLesson — that has raised a $3.1 million seed round led by TLcom Capital. The venture is integrating mobile platforms, SD cards, culture-specific curriculum and a network of tutors to bridge educational gaps […]

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Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Opera’s Africa fintech startup OPay gains 0M from Chinese investors Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to […]

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PalmPay launches in Nigeria on $40M round led by China’s Transsion

PalmPay launches in Nigeria on M round led by China’s Transsion Africa focused payment startup PalmPay has launched in Nigeria after raising a $40 million seed-round led by Chinese mobile-phone maker Transsion. The investment came via Transsion’s Tecno subsidiary, with participation from China’s NetEase and Taiwanese wireless comms hardware firm Mediatek — […]

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Chaka opens up global investing to Africa’s most populous nation

Chaka opens up global investing to Africa’s most populous nation Fintech startup Chaka aims to open up online investingd to Africa’s most populous nation, Nigeria. The seed-stage company recently went live with its mobile-based platform that offers Nigerians stock trading in over 40 countries. Chaka positions itself as a passport to local […]

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Nigeria’s #StopRobbingUs campaign could spur tech advocacy group, CEOs say

Nigeria’s #StopRobbingUs campaign could spur tech advocacy group, CEOs say Nigeria’s #StopRobbingUs campaign to curb police harassment of techies could grow into a formal lobbying group for the country’s tech sector, according to founders Bosun Tijani and Jason Njoku. Tijani, the CEO of Lagos based innovation center CcHub and now Kenya’s iHub, […]

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Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration Shares of Africa focused e-commerce company Jumia dropped 4% the day after the lockup period expired for its April IPO on the New York Stock Exchange. The lockup provision prevents major shareholders — namely those who purchased equity pre-public listing — […]

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Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run-rate and layoffs, Transsion’s IPO

Africa Roundup: CcHub’s iHub acquisition, Andela’s M run-rate and layoffs, Transsion’s IPO Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal out of its real-estate project to build a new 10-story […]

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Nigeria’s CcHub acquires Kenya’s iHub to create mega Africa incubator

Nigeria’s CcHub acquires Kenya’s iHub to create mega Africa incubator Two of Africa’s powerhouse tech incubators will join forces. Nigerian innovation center and seed-fund CcHub has acquired Nairobi based iHub — CcHub CEO Bosun Tijani confirmed to TechCrunch. The purchase amount is undisclosed, but Tijani said CcHub will finance the deal out […]

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Nigerian online-only bank startup Kuda raises $1.6M

Nigerian online-only bank startup Kuda raises .6M Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding. The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving […]

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