Aniekeme Umoh

#network Startups I scout for. Just wanted to help some people out in the various investment thesis I look for 1) Black Founders (Pre-Seed to Series A) building in all sectors (USA) 2) Technology to reduce friction at Scale located in USA, MENA and Africa Focus Areas: B2B ans B2C Software (SaaS, Fintech, Marketplaces, HealthTech, eCommerce, EdTech, AI/ML Stage Pre-Seed (MVP In Market) 3)Sectors: WEB3, AI, QC, RPA Stage: Seed- Series C Also personally, I do a lot of sportstech and gaming Please feel reach out or tag someone in the comments #venturecapital #vc #investing #tech #innovation #startups #dealflow

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Founded in 2023 by Justus Obaoye and Abdulazeez Ogunjobi, Billboxx has already processed over $4 million in invoice payments since launching its minimum viable product (MVP) in May 2023. The platform leverages strategic integrations with a major Nigerian bank, a prominent African payment gateway, and multiple lending partners to facilitate seamless payment through bank transfers, cards, and financing options. #fintech #payments #finance

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Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round, aiming to empower African small and medium-sized enterprises (SMEs) with cash flow management solutions.

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I recently read an article published by TechCrunch on the 1st of September that touched on a significant issue on the minds of many tech investors interested in Africa: why are exits so few on the continent? I found a few points quite thought-provoking. While the space has recorded some big wins, such as BioNTech's $680 million acquisition, SendWave's $500 million acquisition by WorldRemit (now Zepz Group), DPO's acquisition by Network International for $291 million, and Paystack's acquisition by Stripe for $200 million, these numbers, though impressive, raise the question of whether they are good enough. This is especially true considering that about $20 billion has been attracted into the space. Comparing the exit values to the total funding raised, there seems to be a significant gap. For a moment, I pondered this, and I believe that breaking down the data might provide context that could enrich our understanding and pave the way for deeper conversations. The truth is that looking at the data this way might not be an apples-to-apples comparison for some reasons. Firstly, while 2014 may be considered the golden age of venture capital in Africa, more than half of the $20 billion was raised in just two years—2021 ($6 billion) and 2022 ($6.5 billion)—due to the abundance of capital during that period, driven by favorable macroeconomic circumstances beyond anyone's control. If we also look at exits, we see that the majority of large exits were influenced by these same macroeconomic factors, which made exits easier than they would be in tougher economic situations. Great companies were able to leverage these opportunities. Out of the eight exits mentioned, three occurred between 2020 and 2021, a period when exits performed exceptionally well globally. Extending the timeline further, seven out of the eight exits happened between 2020 and 2024. None of these companies were formed in 2021 or 2022, which led to the funding boom; the average age from founding to exit is approximately 10 years, with Paystack being the youngest, founded in 2015. Following this trend, we see that investments made in 2020–2022, during the period of the most significant funding growth, will still take time to materialize. These investments will benefit if global macroeconomic conditions become favorable, making exits easier. We may need to shift from a short-term, year-on-year perspective to a longer-term horizon to appreciate the future potential if we focus on building great companies now. The jury is still out on African tech exits, but I think there is hope. https://lnkd.in/dwPCCeXq

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#network Startups I scout for. Just wanted to help some people out in the various investment thesis I look for 1) Black Founders (Pre-Seed to Series A) building in all sectors (USA) 2) Technology to reduce friction at Scale located in USA, MENA and Africa Focus Areas: B2B ans B2C Software (SaaS, Fintech, Marketplaces, HealthTech, eCommerce, EdTech, AI/ML Stage Pre-Seed (MVP In Market) 3)Sectors: WEB3, AI, QC, RPA Stage: Seed- Series C Also personally, I do a lot of sportstech and gaming Please feel reach out or tag someone in the comments #venturecapital #vc #investing #tech #innovation #startups #dealflow

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Africa Future Forward

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Last night YP Club had a relaxed and intimate fireside chat with CEO and Co-Founder of Mamo, Imad G. A few things that stood out in Mamo's strategy that deviates from most literature I've read: 01 Hire someone in HR as soon as possible Imad hired someone to run HR for Mamo at a headcount of only 8. Most businesses (and I'm sure VCs!) would find this counterintuitive given the small headcount and relative cost against top line revenue. However, this allowed senior leadership to focus on strategy and execution whilst people management, performance review and so forth was managed by a seasoned veteran. People management is a critical component all the way from hiring to firing. Imad mentioned that Mamo were very early to build out their people management playbooks which ultimately led to success. 02 Optimise for happiness This sounds cliche for those who have probably never worked in a high intensity, high performing team but it resonated a lot. When team's are stretched and there's an abundance of work and pressure, it can quickly slip into robotic and monotonous weeks of churning out work. 03 Giving all employees ESOPs and full transparency with performance To ensure proper buy in from all employees, Mamo gives ESOPs (stock options for employees) regardless of their level. Imad acknowledged that they were paying below market rates on salaries yet wanted to hire some of the best and most talented people. To ensure strategic alignment, the shares act as an incentive to drive the company forward. The session will be uploaded exclusively for members to watch online.

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Nigerian fintech Moniepoint just closed $110 million in new financing, and it has landed Google’s Africa Investment Fund as a new investor. The Series C round was led by Development Partners International’s African Development Partners (ADP) III fund. Other investors, including African private equity firm Verod Capital and existing investor Lightrock also participated. Moniepoint, also backed by QED Investors, British International Investment (BII) and Endeavor Catalyst, has raised over $180 million since its launch in 2015. According to the Financial Times, the round makes Moniepoint a unicorn — a private company with a valuation of $1 billion or more. The African fintech was last valued slightly over $800 million in a QED-led round two years ago. Moniepoint initially focused on providing infrastructure and payment solutions for banks and financial institutions before pivoting to becoming a business banking provider, an area where it has found remarkable success. The African fintech caters to small and medium-sized businesses (SMBs) across Nigeria, offering working capital, business expansion loans, and business management tools such as expense management (business payment cards), accounting and bookkeeping solutions, and insurance. The fintech, which powers most of Nigeria’s point of sale (POS) transactions as the country’s largest merchant acquirer, claims it processes over 800 million transactions, with monthly total value exceeding $17 billion. #moniepoint #financialinclusion #mobilemoney #digitalbanking #poweringdreams #unicorn #fintech #nigeria #africa

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In 2020, Sendwave sold to WorldRemit for $500 million. It's one of the biggest exits in the African tech ecosystem. Sid Sridhar was Sendwave’s Head of Business at the time. And in this episode of The Flip, Sid shares his M&A lessons from his experience selling Sendwave. Sid is now the Head of Business at Wave, the mobile money company spun out of Sendwave, that's competing head-on with the telcos in Francophone West Africa. Wave raised a $200 million Series A in 2021, valuing the company at $1.7 billion. In this video, we’ll hear from Sid: 1. The biggest mistake founders can make 2. How to qualify a deal 3. The value of transparency in the M&A process And much more! Hit the link in the comments below to watch the full episode with Sid.

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Learning To Navigate Unfamiliar Waters; A Female Founder Running A Tech Initiative For Boys. As a woman navigating the tech industry, I'm no stranger to unfamiliar waters. But leading the team At the Stellar Academy (Boycode Bootcamp), a tech initiative focused on empowering boys in underserved communities across Africa, has taken that unfamiliarity to a whole new level. Grew up as the first of four girls without a brother so leading a program focused on a demographic I hadn't personally experienced could have been daunting. Instead, it became a thrilling adventure in empathy, learning, and the sheer joy of seeing potential ignite. This journey hasn't been without its challenges. There were moments when I felt like giving up and just abandoning the initiative . Because truth be told , I had a perfect excuse to do that . But here's what I discovered in those unfamiliar waters: * The power of vulnerability: Initially, I felt pressure to be the all-knowing tech guru and founder . But opening up about my own learning journey fostered a deeper connection with the students and my team. They saw their own struggles mirrored in mine,and it empowered them to embrace the challenges of learning. * Building a village of support: You don't have to be the expert in everything. Surrounding myself with a diverse team of mentors – male and female tech professionals from the communities we serve – provided invaluable insights and guidance. * The ripple effect of success: Witnessing the transformation of our students is the ultimate reward. Seeing their eyes light up as they grasp a new concept, their confidence soar as they complete a project – that's what makes every unfamiliar territory worth exploring. More importantly, their success stories inspire others, creating a ripple effect that goes beyond the classroom walls. * Embrace the unexpected: Unfamiliar waters often hold unforeseen treasures. Be open to the unexpected opportunities that can arise when you venture outside your comfort zone. * Celebrate the journey, not just the destination: Leading The Stellar Initiative has been a continuous learning process. There's always something new to discover, a new challenge to overcome. The key is to celebrate the journey itself, the small victories and the lessons learned along the way. These experiences shape not only the program but also our ability to guide future generations. What are your experiences navigating unfamiliar territory? Share your stories in the comments! #femalefounder #teched #STEMeducation #empoweringboys #TheStellarInitiative #preciouseniayekan #boycodebootcamp P.S. If you're passionate about tech education and giving back, connect with me! I'd love to hear from you.

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The Finance Bill 2024 is a DISASTER for our tech ecosystem. From crippling digital asset taxes to punitive measures on startups, this bill is nothing short of an attack on Kenya's digital future. I've just published a detailed breakdown of how this bill will strangle innovation, kill startups, and set our tech scene back by years. If you're in tech, this affects YOU. Read, share, and let's fight back. We can't let bureaucrats who don't understand technology destroy what we've built. It's time to stand up for Kenyan innovation. Read the full blog post here and join the resistance! 👉🏾 https://lnkd.in/dRHnMB4N #RejectFinanceBill2024

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The news of Copia shutting down after raising over $100M in VC funds has sent shockwaves through the African tech community. Despite this, I haven't given up on the Copia model, particularly the rural B2C last-mile retail logistics. Here’s why I believe Copia failed: 1. Slow Rural Economic Growth and Low Household Expenditure : The rural economy grows slowly, and average household expenditure is low, leading to thin margins and poor unit economics. 2. Poor Road Networks : Deliveries are slower and fleet maintenance costs are high due to poor road conditions, resulting in heavy logistics expenses. 3. Wide Drop-off Zones: Rural homes are spread out, with an average gap of up to 2 km in Kenya, as compared to urban areas. This increases the cost per drop-off. 4. Low Internet Penetration and Literacy Rates: This necessitates hiring sales agents to place orders on behalf of last-mile customers, adding another cost layer and complicating customer onboarding and retention. 5. Credit Dependency: Rural customers heavily rely on credit, as they are often employed in farms or run small businesses with low cash flow. Offering credit to a large customer base increases the risk of defaults, making the business model even more challenging. Overall, I believe there is a significant opportunity in rural retail and last-mile deliveries. However, for the model to work and be sustainable, all these factors must come together effectively. Thoughts? #Africa #Tech #Logistics

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For our 129th episode, Terser Adamu was joined on the Unlocking Africa Podcast by Efayomi Carr, who is Principal at Flourish Ventures, leads Africa investments for Flourish Ventures, and has worked with founders in the startup ecosystem for the last five years. As of November, this year, fundraising declined to nearly pre-Covid levels, with startup founders raising only $3.2 billion in a difficult macroeconomic climate that negatively impacted many global companies and regional scaleups and startups. In this period, Flourish Ventures, a global venture capital firm, has continued to support startup companies across the world, especially fintech founders in emerging markets, with patient capital and expert advisory. Flourish has also recently announced additional funding of $350 million to double down on their investments in fintech entrepreneurs, a good percentage of which is earmarked for African markets. During their conversation on the Unlocking #Africa #Podcast, they discussed: ✅ What role does mission-driven entrepreneurship have in determining the future of the financial system, especially in emerging areas such as Africa? ✅ How do you strike a balance between giving companies time to innovate without quick profit and ensuring they are on track for long-term success?   ✅ Beyond providing capital, how does Flourish Ventures help entrepreneurs navigate regulatory frameworks and policy landscapes?   ✅ Common pitfalls that startup founders encounter in their journey towards scaling their businesses for success, and how can they be avoided?   ✅ What distinguishes successful founders from those that struggle to achieve long-term growth?   And much more… ⬇️ Listen now by clicking the link below, and don't forget to share this with your network. ⬇️ https://lnkd.in/e8yTeyyT #Startup #Entrepreneurship #VentureCapital #SustainableGrowth #Fintech #Podcast #Podcasting

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🚀 Exciting News! Join Me Today at 6:00 pm WAT on Twitter Spaces! I’m thrilled to share that I’ll be speaking on a Twitter Space about a critical topic for all entrepreneurs and business leaders: “Data Over Intuition: Key to Scaling Your Startup Effectively.” 📊 In today’s fast-paced world, making data-driven decisions isn’t just a trend—it’s essential for sustainable growth. I’ll be sharing insights on how data can fuel your startup’s expansion, minimize risk, and help you make impactful decisions as you scale. 🗓 Date: Today 🕕 Time: 6:00 pm WAT 🔗 Link to join: https://lnkd.in/dj84Sx3u Whether you're an entrepreneur, part of a startup team, or just interested in the power of data, this discussion is for you. Join me, and let’s dive into how data can elevate your startup journey! #Startups #DataDriven #Veend #Entrepreneurship #GrowthMindset #ScalingUp #BusinessStrategy #Innovation

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Tomorrow I will be speaking at AfricArena on the current state of Tech and Venture Capital in Africa. I won't give too much away! but I will be highlighting key trends, challenges, and opportunities from the past decade and looking forward. Is VC dead? Lets talk about it. #VentureCapital #Africa #Startups #Fintech #Cleantech #HealthTech #Investment #FundingTrends #EconomicGrowth

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UNPACKING AFRICA'S STARTUP FUNDING LANDSCAPE As we edge into the weekend, this week on Market Pulse, I dived into the latest African startup funding trends, and the numbers are telling. Watch as I break down the $138M raised in September 2024, with fintechs leading the charge. Some key takeaways: Nigerian startups are struggling to secure big deals, with only a few notable exceptions Kenya and Egypt are giving Nigeria a run for its money as the leading destination for startup funding Exits and acquisitions are on the rise, with @Syft's $70M acquisition by Xero being a standout deal But here's the question: What's driving this shift in Africa's startup funding landscape? Is it a sign of maturity, with investors seeking more refined and scalable businesses? Or is it a reflection of broader economic trends, with Nigeria's funding drought being a canary in the coal mine? Join the conversation! Share your insights and let's unpack the future of African startup funding together. Featured companies: FlapKap Paymob Fido Syft Risevestors Mutual funds HISA INGENIERIE Moove Partners: Newscentral_Africa Newscentral_Africa Nairametrics #AfricanStartups #StartupFunding #Fintech #MarketPulse #NewsCentralTV #Nairametrics #BusinessMedia #IndustryInsights"

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London, UK based TLcom Capital LLP recently closed its second fund to back early-stage start-ups across Africa. 💸 $154M for TIDE Africa Fund II, with participation from over 20 limited partners including European Investment Bank (EIB), Visa Foundation, Bertelsmann, and AfricaGrow, a joint venture between Allianz and DEG Impact. 💡 Actively seeking 20 to 25 early-stage investment opportunities, with a particular focus on the #seedstage and #SeriesA, with consideration for exploring deals at growth and later stages too. Investment interests lie in traditional sectors, including #fintech, #mobility, #agriculture, #healthcare, #education, and #commerce. Initial investments typically range from $1 million to $3 million. 🌍 #Africa 📈 TLcom's current portfolio companies include SeamlessHR, Autochek Africa, Vendease Africa, Ilara Health, PULA, Terragon Group, among others. The VC operates from offices in London, Lagos and Nairobi. 💭 “We need global capital to look at Africa and think of a place where good investments can be made and technology can generate much value. That’s still to be achieved at scale, so that’s our primary target.” - Maurizio Caio, managing partner 🗞️ Tage Kene-Okafor, TechCrunch https://lnkd.in/eNZGqJhc 👏 For the #AudaciousInvestors unleashing innovation and empowering tomorrow🚀 Maurizio I Omobola I Ido I Andreata I Eloho I Philippe I Wairimu I Olumide I Shamona I Francesca I Team TLcom … #venturecapital #vc #funds #startups #entrepreneurs #funding #tech #uk #entrepreneurship #technology #innovation #Nairobi #Lagos #London

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Nigerian fintech startup Billboxx has raised $1.6 million in a pre-seed funding round to scale its operations, refine its offerings, and expand its team. The funding, a mix of debt and equity, was secured from prominent #investors, including Norrsken Accelerator, Kaleo Ventures, 54 Collective, P2Vest, and Afrinovation Ventures. #funding #seedfunding #investment #businessverge Read the full article here: https://lnkd.in/dcVDuzk5