Boluwatife Oluwafemi

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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TLcom Capital LLP raises $154 million to fund seed African startups #TLcom Capital, an African #VC firm with offices in Lagos and Nairobi, has closed its second fund, TIDE Africa Fund II, at an impressive $154 million! This milestone solidifies TLcom as the largest investor across seed and Series A stages in Africa. Founded in 2009 by Maurizio Caio, TLcom Capital focuses on early-stage startups in traditional sectors such as #fintech, mobility, agriculture, healthcare, education, and commerce. Notable investors in the oversubscribed fund include the European Investment Bank (EIB), Visa Foundation, Bertelsmann Investments, and AfricaGrow, showcasing strong support from both local and international entities. TLcom's investment strategy centers on backing early-stage opportunities, particularly at the seed and Series A stages. The firm aims to support entrepreneurs from the outset and continue investing in promising companies as they grow. With a portfolio of over 300,000 SME clients across Europe, TLcom prioritizes sectors with significant potential for growth and impact, including fintech, where TLcom has made strategic investments in companies like FairMoney and SeamlessHR. TLcom's successful fundraising reflects the growing interest in African startups and the resilience of venture capital activity on the continent. The firm's commitment to gender balance, evidenced by its majority-female partnership and investment committee, demonstrates a dedication to diversity and inclusion in the tech ecosystem. As TLcom expands its operational capacity and expertise beyond Nigeria and Kenya, its investments in Egypt and South Africa signal a broader reach and a commitment to supporting innovation across the African continent. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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🌟Moniepoint Raises $110M, Hits Unicorn Status in Africa’s Fintech Landscape Nigerian fintech giant Moniepoint has officially joined Africa’s exclusive club of unicorns! 🚀 Following a $110 million Series C funding round led by Development Partners International (DPI) and supported by Google’s Africa Investment Fund, Verod Capital, and Lightrock, Moniepoint’s valuation has now surpassed $1 billion, making it one of the continent’s fintech powerhouses. This capital injection positions Moniepoint as the eighth African unicorn, joining the ranks of companies like Interswitch, Flutterwave, Chipper Cash, and OPay. Founded in 2015, Moniepoint has evolved from a budding startup into one of the most impactful players in Nigeria’s financial technology ecosystem. Moniepoint has emerged as a leader in Nigeria’s agent banking space, providing seamless retail banking services and tailored solutions for small to medium-sized businesses. The platform has significantly boosted financial access, especially for underserved and rural areas, aligning with the Central Bank of Nigeria’s vision for nationwide financial inclusion. In 2023, Moniepoint’s growth soared with a 205% increase in transaction value, processing 5.2 billion transactions worth over $150 billion—a clear indicator of its robust, user-centric model. In addition to supporting agent banking and retail services, Moniepoint’s platform offers an expanding suite of business solutions, from digital payments and FX services to credit and business management tools. Moniepoint is committed to sustainable growth as it scales, aiming to leverage these new funds to drive economic activity and inclusion across Africa and its diaspora. Moniepoint’s rapid ascent began with a 2022 funding round valued at around $400 million. This recent Series C round and strategic secondary sales have nearly tripled its valuation. DPI’s backing and support from renowned investors like Google’s Africa Investment Fund highlight Moniepoint’s potential to shape Africa’s digital and financial inclusion landscape. Commenting on the achievement, Tosin Eniolorunda, Founder and CEO of Moniepoint, said, “This investment enables us to drive further financial inclusion across Africa, a critical mission given the region’s informal employment rate of 83%. We aim to help our customers overcome challenges by continually innovating and enhancing our platform. We are just getting started.” Moniepoint’s success is a testament to the potential within Nigeria’s fintech sector, with African startups continuing to demonstrate their resilience and growth. The company’s revenue has also mirrored this momentum, with insiders noting that its annualized revenue is over $100 million. While currency devaluations have posed challenges, Moniepoint has become a high-growth and profitable enterprise.

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How do Nigerian startups secure foreign investment or expand to the US? Our managing partner will be having an Instagram live session today with @pro.startups Here We'll be talking comparing the Nigerian startup ecosystem with the startup ecosystem in the US, and the way to expand into the US and attract US based investors. We'll share tips on making the process smooth and successful. Join us at 6:00pm today! If you're a startup founder, looking to expand and get foreign investment you won't want to miss this! #StartupExpansion #USInvestment

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Nigerian 🇳🇬 fintech Moniepoint Nigeria has secured $110 million in Series C funding led by Development Partners International (DPI), with support from new investors Google Africa Investment Fund, Verod Capital, and returning backer Lightrock, Moniepoint’s valuation has now surged to an impressive $1 billion—officially joining the ranks of Africa’s unicorns! 🚀 🎯 Since its founding in 2015, Moniepoint has championed financial inclusion, providing essential banking services for individuals and small businesses across Nigeria. Recognized by the Financial Times as one of Africa’s fastest-growing companies, Moniepoint has now more than doubled annual revenues, surpassing $100 million. 🌟 With over $150 billion in transaction value and 205% growth in 2023, Moniepoint continues to set new standards in Nigeria’s agent banking space. The future looks bright as Moniepoint scales up, empowering communities and redefining digital finance across Africa! Read more: https://lnkd.in/df9VxVRk ✨ Stay in the know! For the latest African news and insights, follow our WhatsApp channel - https://lnkd.in/ddAsW5S4  and never miss an update! 🌍📲 #Africa #Nigeria #Startup #Fintech #Funding 

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I'm very proud to share the news about our TLcom Capital LLP TIDE Africa II fund final close at $154mn. While we remain laser focused on our journey to build the best early stage VC in the world investing in Africa, this is a serious milestone for us more than doubling our first fund size, expanding team, entering new African markets and most importantly growing the ability to partner with the best and brightest founders out there building in and for Africa. Many thanks for all our LPs, the many who kept believing in us since TIDE Africa I, and those who decided to back us on this one and join our journey - we couldn't make it without you! https://lnkd.in/eDjapC85 On a more personal note, it's been a patchy year. A year full of reflection, learning and realisations. In a world that keeps going sideways often fuelled by populists agendas, wars and hate, and with too many of us wanting to always win (by making sure someone else is losing), not being able to digest and understand complexities and nuances, and feeling obliged to have a firm view within 20sec about everything, our responsibility is even bigger. It's tough out there. On the macro, on the details and on everything in between. So what does it have to do with Africa VC? We have the privilege of helping and supporting the ones who stand up, look complexity in the eye and decide to build for the better. Of course we want and need it to return multiples of cash, but our real job is be there for the journey, and remember it's never "linear up into the right". To partner with those who can understand the complexity and nuances of the problem better than anyone (and not try and flatten it), but can define simple and scalable solutions to these complexities. Have a long term strategy and vision, and not a short sighted view. Distinct the core of the problem from the noise, paint in their (and our) minds how the world will look in a decade and create a path to get there and make it better. And in all of it, it remains about people. People who need to have the drive, the focus, the mental flexibility and curiosity but also the boldness to embark on these journeys. And our role is to help. To listen, to be a sounding board. The most trusted advisor, but also push back when needs be. And through all of it remain humane, and remember they too have life outside work, feelings, challenges and difficulties. So what's next? I'm nearing 13years in, but it's only the beginning... With the best partners and team around, we celebrate, but keep our eyes on the prize. Build a memorable platform, partner with the best founders out there and contribute what we can to making Africa better, while embracing complexity, diversity, nuances keeping curious and humane. Now back to work. A lot to build... With Maurizio Caio Omobola Johnson Andreata Muforo and Eloho Omame #AfricanTech #VentureCapital #Startup

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🚀 𝗧𝗼𝗽 𝟴 𝗡𝗶𝗴𝗲𝗿𝗶𝗮𝗻 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗙𝘂𝗻𝗱𝗿𝗮𝗶𝘀𝗲𝘀 𝗳𝗼𝗿 𝗛𝟭 𝟮𝟬𝟮𝟰 🚀 Here are the top 8 fundraises for Nigerian startups in the first half 2024! 🎉 These eight startups raised approximately $186.9 million in H1 2024. The list features startups such as Nomba, Moove, Chowdeck, and LemFi representing buzzing sectors such as: ↔ Mobility Tech 🚗 ↔ Fintech 📈 ↔ Health Tech 🏥 ↔ EdTech 💡 ↔ Logistics Tech 🚚 The diverse range of sectors reflects the dynamic nature of Nigeria's startup ecosystem. The other companies include Klas, Renda Africa, MDaaS Global, and SEAMFIX. These funding activities highlight the #resilience and potential of #Nigerianstartups to #innovate and address critical challenges in their respective industries. Check out the Carousel to see who leads the way! Lagos Angel Network (LAN) celebrates the tenacity and achievements of these trailblazers, who are revolutionizing industries and #shapingthefuture of Nigeria's economy. Adeolu Adewumi-Zer | Olumide Soyombo | Biola Alabi | Yemi Keri | Iyinoluwa Aboyeji | Solomon King | Adedotun (Dotun) Sulaiman | Harry 'Tomi Davies

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Paris VC Breega announces $75 million Africa fund launch Paris-based #VC firm #Breega has launched its first Africa-focused fund, with an impressive $75 million aimed at pre-seed and seed startups across the continent. This marks Breega's sixth fund overall and the first outside of Europe, underscoring its commitment to Africa's burgeoning tech ecosystem. Breega was founded by Ben Marrel, who also serves as the CEO. Leading the Africa fund are Melvyn Lubega, co-founder of the edtech unicorn Go1, and Tosin Faniro-Dada, CPA, former CEO of Endeavor Nigeria. The fund has received significant backing from institutions such as Bpifrance and the Dutch entrepreneurial development bank, FMO. The focus of this fund will be on key markets including Nigeria, Egypt, South Africa, Kenya, and Francophone Africa, which includes countries like Morocco, Senegal, Ivory Coast, Cameroon, and the DRC. Breega plans to invest between $100,000 and $2 million in startups operating in high-impact sectors such as fintech, health tech, proptech, logistics, and edtech. Breega’s approach is unique, as it offers more than just capital. With over a quarter of their team dedicated to supporting portfolio companies, Breega provides comprehensive operational expertise in areas like go-to-market strategy, talent management, governance, and brand communications. The launch of Breega’s Africa fund is a significant milestone for the continent’s tech ecosystem. It is poised to bring more unicorns and transformative solutions to the market, fostering innovation and addressing unique local challenges. With new offices in Lagos and Cape Town, Breega is well-positioned to tap into Africa's immense opportunities and replicate its European success. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

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What Happend This Week in Fintech - Africa. - African based VC closed its $154 Million fund for early stage startups. - An African startup once valued at over $100 Million shut down its flagship product and launched a new AI-powered social commerce product. - After the $594,943 reported fraud, the Nigerian bank suspended partnerships with 7 Fintechs. - Kenyan Bank hit by $2.1 Million debit card fraud, 19 suspects arrested. - Tanzania based Fintech partnered with the largest bank in Africa. - World’s largest Crypto exchange platform partnered with an African startup to increase Cryptocurrency adoption. - One of the largest Mobile Money Companies in Africa added 25 transaction methods in 10 additional countries. - Post-CEO exit, African payment giant appointed new leaders with Unicorn background. - Nigeria asked Kenya to arrest the executive who escaped detention last month. Read more 👇🏿 https://lnkd.in/dTXZPkBd

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We are thrilled to announce the launch of the first-ever Cordros Wealth Report! This comprehensive guide is packed with insights from various industry experts on building wealth, cutting-edge wealth management strategies, emerging opportunities, and promising growth sectors within the Nigerian financial landscape. To download the report, click the link below! https://bit.ly/TheCWR2024 #CordrosWealthReport #WealthManagement #FinancialLiteracy #Nigeria #Investment #Economy

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Lagos Startup Week has released its activity schedule for a week-long event for founders, investors, government officials, and technology enthusiasts. If you’ve missd the event then you don’t want to miss out on the highlights that we’ve covered on the incredible insights and happenings from Nigeria’s biggest tech events. Want to see it then check out this link: https://lnkd.in/dWHUVEEM #Finance #Tech #StartupWeek #GroupMarketing #DataAnalysis #TechNews #CEO #VentureCapital #Dysh #Networking #BigMoves

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African VC firm TLcom Capital LLP has closed its second fund, TIDE Africa Fund II, at $154 million, cementing its place as the continent’s largest investor across seed and Series A. “The oversubscribed fund, initially targeted to close at $150 million, attracted participation from over 20 limited partners. Notable investors include the European Investment Bank (EIB), Visa Foundation, Bertelsmann, and AfricaGrow, a joint venture between Allianz and DEG Impact. “TLcom Capital, which focuses on traditional sectors like fintech, mobility, agriculture, healthcare, education, and commerce, has already backed six companies from its new fund, making initial investments ranging from $1 million to $3 million. They include SeamlessHR, FairMoney, Zone, and Vendease. Additionally, the firm has expanded its portfolio to include ILLA, a middle-mile logistics platform, and Littlefish, which enable payments and banking products for SMEs, marking its first investments in Egypt and South Africa, respectively.” https://lnkd.in/eNZGqJhc Maurizio Caio, Omobola Johnson, Eloho Omame, Andreata Muforo, Ido Sum, Wairimu Muriithi, Philippe Griffiths, Francesca Iannilli #funding #fundingnews #vcfunding #venturecapital #startups #tech #fintech #innovation

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Did you know? Africa’s tech sector is booming, particularly in fintech, e-commerce, and mobile banking. Countries like Nigeria, Kenya, and Ghana are leading with innovative startups and venture capital investments, accelerating the continent’s digital economy #fintech #tech #africa

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This Week in StartupGhana #18: | Wami Agro banks additional funding | CSIR’s $20m Impact Fund | SEC opens door to equity crowdfunding Hi everyone, last week, our local startup scene sizzled with funding, policy changes, and a major global recognition. Let's dive in! ➡️ WamiAgro secures additional funding from Mirepa Capital. ➡️ Cadana secures $7.1 million in seed funding to streamline payroll for talent marketplace and HR providers. ➡️ Council for Scientific and Industrial Research (CSIR), Ghana to raise $20m Science for Impact Fund to back high-impact research projects and technological innovations. ➡️ 10k2startup launched to invest and accelerate African startups. ➡️ Securities and Exchange Commission, GH opens door to equity crowdfunding. ➡️ Jetstream Africa selected as one of the 100 Technology Pioneers by the World Economic Forum. ➡️ MESTI launches a $5,000 innovation voucher grant scheme to fund collaboration between startups and research institutions. Read the details here: https://shorturl.at/yRLQ2

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Amplify Growth Partnership, a venture debt firm, has announced the launch of its $100 million growth debt fund. This fund aims to provide alternative financing solutions to high-growth technology companies across Africa, the Middle East, and Pakistan. The fund will focus on offering debt capital to startups and scale-ups that have demonstrated strong market traction and are seeking non-dilutive financing to fuel their expansion. Amplify Growth Partnership's approach is designed to complement traditional equity funding, allowing companies to accelerate growth without sacrificing ownership. Target sectors for the fund include fintech, e-commerce, healthtech, and enterprise software. The firm plans to deploy capital in ticket sizes ranging from $1 million to $10 million, with flexible repayment terms tailored to each company's cash flow and growth projections. Amplify Growth Partnership's fund launch comes at a time when many startups in emerging markets are facing challenges in raising equity capital due to global economic uncertainties. The growth debt offering provides an alternative funding avenue, potentially helping companies extend their runway and achieve key milestones without dilution. This initiative reflects the growing sophistication of the startup financing ecosystem in Africa, the Middle East, and Pakistan, as well as the increasing demand for diverse funding options to support the region's burgeoning technology sector. #VentureDebt #StartupFundin

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As of March 2024, 15-year-old Paga Group Ltd, a Nigerian payment company, had processed 335M transactions since inception, worth over ₦14T ($32B) via its PoS offering, with 80% coming in the last 5 years. The company is now refocusing on its mobile app for bill payments, airtime purchases, and money transfers. Speaking about the state of the consumer fintech app market and Paga’s approach to differentiating itself, Paga founder and CEO Tayo Oviosu said: “This is not a winner-take-all market. There are different segments of the market that everyone is focused on.” “Our primary target is a slightly higher audience than Opay’s, not to say we don’t have an overlapping audience,” he added. Via TechCabal. https://lnkd.in/gntZDxsb #fintech #financialservices #payments #paymentsolution #africa #growth

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At HK Group, we've been working hard to solve a problem we know many Nigerian businesses face: finding affordable and effective ways to leverage technology for growth. We're thrilled to announce that we're developing Optimize, an all-in-one AI-powered platform transforming the way businesses operate and consumers discover trusted brands. For Businesses: - Build a stunning, professional website in minutes, even with zero tech skills. - Supercharge your marketing and sales with AI-powered tools. - Manage your finances, inventory, and customer relationships with ease. - Get verified on our platform to build trust and credibility with customers. - Gain valuable insights from your data to make smarter decisions. - Build trust with customers through our business verification process. For Customers: - Find verified businesses and discover their products or services in one place. - Access comprehensive business information, reviews, and testimonials. - Shop and book services with confidence, knowing you're dealing with legitimate businesses. We're still in the development phase, but we're excited to share our vision with you. We believe that Optimize will revolutionize the way Nigerian businesses operate, helping them reach their full potential in the digital age,  while providing consumers with a safe and reliable platform to connect with the businesses they need. Want to be the first to know when Optimize launches? Follow our page for updates and exclusive sneak peeks! #Optimize #NigerianSMBs #BusinessGrowth #AI #Technology #Startup #Entrepreneurship #Nigeria

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