Tag: africa
Ex-SafeBoda executive Babajide Duroshola joins M-KOPA to lead expansion into Nigeria
On June 18, Babajide Duroshola, ex-Country Head, SafeBoda Nigeria, stepped down from his role two years after taking the job post-Andela. Less than a month later, the executive has found a new role as General Manager in Kenyan company, M-KOPA. His appointment coincides with M-KOPA’s broader expansion strategy, which includes…
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Kenya’s MarketForce raises $2M, plans to focus on its B2B retail marketplace RejaReja
A 2016 study by global consultancy PwC states that an estimated 90% of sales in Africa’s major economies come through informal channels like markets and kiosks. In sub-Saharan Africa, 90% of these household retail transactions are carried out via a network of about 100 million MSMEs. Africa’s retail payments, mostly…
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Smile Identity raises $7M to build KYC and identity verification tools for Africa
An estimated one billion people worldwide face the challenge of proving who they are, according to a World Bank Group report which states that 81% of this number live in sub-Saharan Africa and South Asia without official proof of identity. It’s no news that Africans spend an inordinate amount of…
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MaxAB, the Egyptian B2B food and grocery delivery startup, raises $40M for expansion
Globally, food and grocery delivery startups have been raising mega-rounds of late, especially those in Europe as the pandemic has given rise to more people ordering online more than ever. This growth has translated to an increase in volume across e-commerce platforms all over the world. While there has relatively…
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TeamApt will use its new funding round to provide digital bank services for the unbanked
A great deal has changed since we last covered Nigerian fintech startup TeamApt two years ago. At the time, the company had just closed a $5.5 million Series A round from a single VC — Quantum Capital Partners, a firm owned by Zenith Bank billionaire Jim Ovia. TeamApt has quite…
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Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney
Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There are five distinct models, and the one adopted by Nubank, the $30 billion behemoth, is the credit-led model. Neobanks operating…
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