Ayo Akindele

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 Rise Acquires Kenyan Investment Platform Hisa, Expands into East Africa Nigerian fintech startup Rise has acquired Kenyan investment platform Hisa as part of its expansion into the East African market. Rise, which connects users to global stock investments denominated in US dollars, aims to create a borderless investment experience for Africans, similar to Hisa’s mission of providing access to local and global assets like stocks, ETFs, bonds, and alternative investments. Read more 👇 Eke E. Urum Adeoti Sheriffdeen Ebube Ilo Eneyi Obi

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I always love chatting to a countryman doing big things, even if it confuses my AI-powered transcription services which, for the first time in nearly 150 episodes, couldn't distinguish between Alex Forsyth-Thompson, CFA, CFP® and I 😄 Anyway, in today's episode, we're talking about the creation of Float and the delivery of flexible, frictionless and financially responsible instalments.

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Elevate (YC W22), a fintech company, has raised a $5 million equity-debt pre-Series A funding round led by Negma Group Ventures, a Dubai-based investment firm. The funding will fuel Elevate’s expansion into new markets, including #Africa. Learn more - https://lnkd.in/dDvyjatt #empowerafrica #fintech #technology #startfunding #startuplife Khalid Keenan Youcef Oudjidane Artem Gordeev Tanvirul Islam

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Are you prepared to embrace the realm of cross-border investments with ABAN in this upcoming masterclass? In the ever-evolving African markets, do you know what it takes to seize opportunities and navigate complexities effectively? This masterclass will address these questions and more, offering an exciting opportunity to acquire valuable insights for harnessing Africa's potential. Join me and Umulinga Karangwa, CFA on 26th April 2024 as we unravel the intricacies of investment strategies across diverse African landscapes.

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Africa’s largest early-stage VC fund exceeds target! TLcom Capital LLP has closed the TIDE Africa Fund II at US$154mn, complete with new high-profile LPs alongside returning ones. The fund, which is more than twice the size of the firm’s first fund, is believed the be the continent’s largest early-stage venture capital fund and will make initial investments of US$1mn-US$3mn while maintaining significant follow-on capacity to support strong portfolio performers into their growth stages. “With this final close, we’re thrilled that TLcom is in an even stronger position to continue to partner with Africa’s most talented entrepreneurs from early in their company-building journeys,” said TLcom’s founder and managing partner, Maurizio Caio. “We’re also excited to spend more time in the Egyptian ecosystem, co-investing alongside the most active local funds.” Learn more about the fund and the participants subscribed at: https://lnkd.in/eqikcH6H #VentureCapital #AfricaEntrepreneurs #TIDEAfricaFundII #AfricaStartup

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What Happened This Week in Fintech Africa; - Two fintech acquisition deals were announced in South Africa. - The most preferred global banking partner for African startups closed accounts of startups in 13 African countries. - A Nigerian digital bank was hit by a $4 million cyberattack and is seeking legal recourse for recovery. - After acquiring a Nigerian wealth tech startup in 2023, a Nigerian fintech was recently in talks to acquire another Kenyan wealth tech startup. - The global VC whose portfolio includes an African fintech unicorn stated they will continue to support emerging market entrepreneurs, even if the currency devalues. - Three African fintechs have expanded into more markets both locally and internationally. Read More 👇🏿 https://lnkd.in/dPjQ_Yaz

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Empowering African Investors |The Buffet Blueprint Are you looking to diversify your portfolio and gain insights into the growing world of Exchange Traded Funds (ETFs) and passive investment strategies? Join us for an exclusive webinar designed for African investors eager to explore opportunities in global markets and build resilient, passive, cost-effective investment portfolios. Key discussion points: 📌 How African investors can harness the power of global ETFs to build wealth over time through a simple buy-and-hold strategy, focusing on index funds like the S&P 500. This approach offers broad market exposure, low costs, and a path to steady, long-term growth by staying invested in the market's overall performance 🔗 Register Now: https://lnkd.in/dMH7nyyv Whether you are a seasoned investor or new to global investing, this webinar will equip you with the knowledge and tools to make informed decisions in today’s ever-evolving financial landscape.

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Moniepoint Named One of Africa’s Fastest Growing Companies in 2024 Nigerian Fintech company Moniepoint Group has been named one of Africa’s Fastest-Growing Financial Institutions in 2024 by Financial Times. This is the second consecutive year, that Moniepoint has been recognized by the Financial Times as Africa’s fastest-growing financial institution. The Financial Times, renowned for its authority and accuracy in business news, compiled the rankings in collaboration with Statista, a leading research company. Read more👇 #Moniepoint #financialtimes #fastestgrowingafricancompany #finance Tosin Eniolorunda Babatunde Olofin Adeleke Adewale Edidiong Uwemakpan Frank Atashili Ope Adeyemi

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According to Mr Max Stuedlein, head of Strategic Digital Asset Solutions at Sygnum, offering tokens instead of equity has several benefits for companies looking to raise capital. "Unless you are undertaking a primary issuance on a public stock exchange, your potential investor base is often limited to institutional or accredited investors,” he noted. “In contrast, tokens can potentially be traded on crypto exchanges. This allows issuers to accumulate liquidity from a wider base of investors and leverage the blockchain for greater transparency and traceability." More on what it means to raise capital via a token offering in this piece on CNA. https://lnkd.in/gD6h2htX #tokenization #fundraising #sygnum #digitalassets

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Nigerian Startup Regfyl Raises $1.1 Million to Simplify Compliance for Businesses Regfyl, a Nigerian startup focused on streamlining compliance for businesses, has secured $1.1 million in pre-seed funding. The round was led by Rally Cap, with participation from Techstars, DCG, Musha Ventures, Africa Fintech Collective, and several angel investors. This funding will enable Regfyl to expand its team, particularly in sales, engineering, and customer support, while also developing a new supply chain compliance tool to broaden its offerings. Read more 👇 #regfyl #fundraising Dr Tunde Ibidapo-Obe

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Countdown to Lagos Private Wealth Conference on Monday 10 June ⏰ Full agenda in the comments 👇 Preview below of Panel 4 on Digital Transformation, Disruption and Innovation in Wealth Management, which will be moderated by Rahul Ahuja. #lagospw2024 #investment #wealth

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Too good not to share - Africa's largest VC deal of the year! A cross-border team at Norton Rose Fulbright, led by Bayo Odubeko, advised Development Partners International (DPI) & Verod on their investment in Moniepoint Group, one of Africa’s fastest-growing #FinTech companies. Moniepoint, a leader in business banking in Nigeria, processes over 800 million transactions monthly, with a total value exceeding $17 billion. The company recently closed a $110 million Series C round led by DPI, joined by Google's Africa Investment Fund, Verod Capital, and Lightrock. As reported by the Financial Times, Moniepoint has now joined the ranks of Africa’s unicorns, becoming the fifth venture-backed company on the continent with a valuation of over $1 billion—all of which are in the FinTech space. The rapid growth of African FinTech has been fueled by rising smartphone ownership, increased internet accessibility, and a young, urbanizing population. Exciting times ahead for the African tech ecosystem. Kudos to all who were involved! Find out more: https://ow.ly/AiNO50TW6jJ PitchBook write-up: https://lnkd.in/gV5CTHeM

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What the future of payments in Africa looks like! Financial inclusion doesn’t begin and end with a bank account. It will be solved by a multitude of payment technologies – including cash. With high levels of smartphone penetration in SA, the era of ubiquitous and instant electronic payments is tantalisingly close – and as usage increases, so too will economic growth. Financial inclusion is an elusive goal that is now closer to realisation than ever. It’s being tackled through a variety of innovations from traditional banking and non-banking sources such as fintechs. The push for digital financial inclusion is grounded in sound economics – it lowers the costs of transactions, which in turn leads to higher economic growth, according to a World Bank report. Africa has frequently led innovation in payments technology, as it did with Mpesa – launched in 2007 by mobile network operators Vodafone and Safaricom in Kenya to enable users to send and receive money. Today, Mpesa has more than 60 million users and transacts in excess of $1 billion (more than R18 billion) daily. “Africa’s payments industry is booming,” says a report by Swift (Society for Worldwide Interbank Financial Telecommunications). “Electronic and instant payments systems are redefining day-to-day transactions in a continent where cash remains king, and where a youthful population is driving digitisation at a rapid rate. “In fact, Africa currently accounts for 70% of the world’s $1 trillion mobile money value,” says Swift. Rufaida Hamilton, head of payments in South Africa at Standard Bank, says the biggest turning point for Africa “was when it was understood that just providing a bank account was insufficient to meet financial inclusion targets”. “In South Africa, the addressable market for bank accounts has largely been satisfied, but the ability to move money instantly and easily has not been met in traditional payment services. “The next step towards the goal of financial inclusion is ubiquity in payment. “I don’t foresee cash disappearing any time soon,” she adds. But we do believe there are benefits to actively reducing the reliance on cash. “The future of payments involves the co-existence of a multitude of payment options competing with each other and interacting with each other.” #fintech #payments #financialinclusion https://lnkd.in/dyGiqwUM

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