Tag: africa
How Pariti is connecting founders with capital, resources and talent in emerging markets
According to Startup Genome, Beijing, London, Silicon Valley, Stockholm, Tel Aviv are some of the world’s best startup ecosystems. The data and research organisation uses factors like performance, capital, market reach, connectedness, talent, and knowledge to produce its rankings. Startup ecosystems from emerging markets excluding China and India didn’t make…
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Jumia narrows losses, as its payment service grows in financial results
After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020. Backing that claim, Jumia reported record gross profit and some improvements to its cost structure. The company wrote in its earnings release that while “2020 has been a challenging year operationally with COVID-19…
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Japan’s Uncovered Fund launches $15M fund to back early-stage startups in Africa
Uncovered Fund, a VC firm targeting early-stage startups in Africa, announced today that it has launched its $15 million fund which is expected to close at the end of June this year. The Tokyo-based outfit founded by Takuma Terakubo in 2019 will invest $50,000 to $500,000 in African startups in…
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Jack Dorsey and Jay Z invest $23.6 million to fund Bitcoin development
Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up as…
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How African startups raised investments in 2020
The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years. To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the…
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YC-backed Djamo is building a financial super app for consumers in Francophone Africa
Djamo, a financial super app for consumers in Francophone Africa, is the first startup from Ivory Coast to get backing from Y Combinator. While there has been a huge profusion of financial services that have emerged in recent years in Africa, Djamo’s mission is to try to plug one specific…
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