Africa Private Equity Media

**Exciting news from Socium!** The Senegalese HR-tech platform has secured $5 million (3.2 billion FCFA) in funding to accelerate its growth across 15 countries, including Côte d'Ivoire, Senegal, and Cameroon, with plans to expand into the DRC and Morocco. This new round, led by Breega and backed by investors like Partech, Orange Ventures, and Chui Ventures, highlights Socium’s potential to revolutionize HR management in Francophone Africa. Founded in 2021 by Samba LO and Serigne Seye, Socium integrates AI-powered tools to streamline payroll, talent management, and performance. Already serving over 100 clients, including major players like Auchan and EY, the platform addresses critical operational challenges for businesses in the region. With this milestone, Socium cements its position as a key player in the digitalization of HR in Francophone Africa, aiming to drive sustainable transformation in talent and operations management. 🚀 #Innovation #HRtech #AfricaGrowth

A group of investors, led by African payment giant Paystack, has acquired Brass, a Nigerian business banking startup. Other participants in the acquisition include Piggyvest, Ventures Platform Fund, and P1 Ventures. "Investors like Ventures Platform played a key role in facilitating the discussions and were convinced the deal was essential. They also recognized the necessity of involving operators in the process. This practical approach led to the strategic partnership between the VC firms and the startups within the consortium. "Sola Akindolu, the founder and CEO of Brass, and CTO Emmanuel Okeke, will be leaving the company. They will be succeeded by a new leadership team that has yet to be announced. All other Brass employees will remain in their positions, according to a source with direct knowledge of the matter." Via TechCabal. https://lnkd.in/dPNHyg-a