Fintech Association Of Kenya’s Post

#Estonian company Inclusion, the owner of car rental company Planet42, based in the Republic of South Africa, has suspended payments to its investors. The company's founder Eerik Oja wrote a letter to investors that due to the deterioration of business activity in the Republic of South Africa, Planet42 will temporarily suspend scheduled interest and principal payments on loans in July. According to him, the company is working on various scenarios to solve this issue and is going to send notifications to investors by August 15 about further steps. Founded in 2017 by Estonian entrepreneurs Eerik Oja and Marten Orgna, Planet42 buys used cars from a network of car dealers and connects them with customers. The platform works on a subscription base, without the need to physically inspect or meet the customer. The startup helps people, who are unable to secure financing from traditional institutions to purchase a car. In March 2024, the company raised €15M from South African Standard Bank Group. €3M was provided as equity investments and €12M as a loan in the local South African currency. In February 2023, Planet42 raised $10M in debt financing from existing shareholders and other backers in Estonia, as well as $15M as an equity investment from Estonia's Change Ventures, South Africa's Naspers Limited, and US angel investor Andrew Rolfe. Planet42's existing investors are the Baltics Estonian accelerator Startup Wise Guys, founder of Estonian mobility unicorn Bolt Martin Villig, and founder of Estonian unicorn Pipedrive Ragnar Sass. All about Baltic startups and VC https://balticvc.com #Estonia #Baltics #startup #startups #technologies #VentureCapital #VC #mobility

𝐖𝐡𝐚𝐭 𝐚 𝐠𝐚𝐦𝐞-𝐜𝐡𝐚𝐧𝐠𝐞𝐫 𝐓𝐡𝐞 𝐁𝐚𝐥𝐤𝐚𝐧 𝐬𝐭𝐚𝐫𝐭𝐮𝐩 𝐞𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 𝐢𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐦𝐨𝐯𝐞! As we continue to support and develop startups and ecosystems in the Western Balkans, we're excited to share some of the latest developments and success stories from the region. Initiative "Digital Serbia" is a prime example of the region's growth. Founded in 2017, it has grown to include over 30 member organizations and companies from various sectors. They've achieved commendable results in education, legislation, and startup support. Their Startap portal provides valuable resources for startups, and their business angel group offers "smart money" to help them grow. Porsche's recent acquisition of Greyp Bikes is another significant move. This strategic partnership will bring cutting-edge technology and expertise to the region, further solidifying the Balkan startup ecosystem. Air Pink, a Serbian rental company, is also making waves by launching low-cost flights. This bold move will bring more opportunities for regional commercial flights and further diversify the region's aviation sector. The Western Balkan Startup Alliance is proud to be a part of this growth, supporting activities, research, and events that benefit the region. We're excited to see what the future holds for these innovative companies and the ecosystem as a whole! #BalkanStartups #WesternBalkanStartupAlliance #DigitalSerbia #Porsche #GreypBikes #AirPink #StartupEcosystem #Innovation #Growth #Entrepreneurship #WesternBalkans #StartupWeekends #SpletTechConference #ICTHub #TenderlyGarage #BusinessAngels #SmartMoney #StartupSupport #Legislation #Education #Aviation #ElectricBicycles #Mobility #NewChapter #GameChanger

Estonian car rental company Planet42 has presented a rescue plan that would split the company's #SouthAfrican and #Mexican businesses to investors. In August the startup suspended payments to its investors. "After three months of intensive negotiations with all parties, the time has come to make a decision," said Planet42 co-founder Eerik Oja said in a letter sent to Estonian investors. Under the terms of the rescue plan, UK-registered P42 UK Ltd will pay Estonian company Inclusion OÜ €1,8M for the South African unit currently owned by Inclusion. The South African company will thus become a direct subsidiary of the UK parent company. As a result of the restructuring, the owners and managers of the business will be predominantly local investors, while the Estonian investors will retain the Mexican line of business. Founded in 2017 by Estonian entrepreneurs Eerik Oja and Marten Orgna, Planet42 buys used cars from a network of car dealers and connects them with customers. The platform works on a subscription basis, without the need to physically inspect or meet the customer. The startup helps people, who are unable to secure financing from traditional institutions to buy a car.  In February 2023, Planet42 raised $10M in debt financing from existing shareholders and other backers in Estonia, as well as $15M as an equity investment from Estonia's Change Ventures, South Africa's Naspers Limited, and US angel investor Andrew Rolfe. In March 2024, the company raised €15M from South African Standard Bank. Planet42's existing investors are the Baltics Estonian accelerator Startup Wise Guys, founder of Estonian mobility unicorn Bolt Martin Villig 🇪🇪, and founder of Estonian unicorn Pipedrive Ragnar Sass. All about Baltic startups and VC https://balticvc.com #Estonia #startup #startups #tech #technology #technologies #TechnologyNews #TechNews #vehicle #Car #rental #Investors

From the idea to the top 3! FleetMaster is consistently growing and today is already among the leaders of #startups in the Lithuanian transport and #logistics sector, according to the data of the #Unicorns Lithuania association. This achievement #motivates and inspires to continue to achieve the set goals. We aim to optimize the operations of transport and logistics companies by applying #innovative solutions that help our customers to successfully #develop their businesses. #latgrupė #itsolutions #innovativesolutions

Did you know that Lithuanian and Finnish startup ecosystems are among the best for Startups globally? Both countries have implemented startup-friendly policies, government support, and initiatives aimed at fostering entrepreneurship.   In the Startup Blink Report 2024, Lithuania climbs to 16th globally—an impressive achievement! 🇱🇹 The country now ranks 10th in Europe, and 8th in the EU. 🌍 🏙️ Lithuania shines with three cities—Vilnius, Kaunas, and Klaipėda—in the global top 1,000. Vilnius is in the top 100, while Kaunas is in the top 200. It’s the only Baltic nation with two cities in the top 200, highlighting its dynamic and growing ecosystem.   The full ranking: https://lnkd.in/eWQ6pBcm   #Lithuania #Startups #LithuaniaCoCreate #CoCreateSolutions

Thinking of selling goods or services to other countries? 💭 This guide provides a comprehensive overview of exporting.👇 Check out the link in the comments below. #2GlobalMarkets #ExportBusiness #GoToMarket #GlobalMarkets #BusinessExpansion #importexport #Export #Asia #Europe #MiddleEast #EuropeanMarket #Exporter #Startups #ExportManager #SalesManager

#PortfolioUpdate #Moove, the Uber-backed Nigerian startup that finances vehicles for ride-hailing companies, is expanding operations to the U.S. Since August, the company has listed vacancies for roles in Los Angeles and California. This expansion supports the startup’s plan to achieve profitability in 2025. The four-year-old startup, founded by Ladi Delano and Jide Odunsi, said it will majorly finance electric vehicles upon entry. The company, which operates in six markets—Nigeria, South Africa, Ghana, the U.K., India and the UAE, plans to expand to six additional countries including the U.S. by 2025. Moove is our #Fintech portfolio company which illustrates the best our core investment thesis of backing dominant #Founders able to deliver superior quality products and experiences #FromAfrica2TheWorld. #COMING2AMERICA https://lnkd.in/g8xm85GQ

A meetup with ministry of SME. Key discussions: Visa issues for foreign startups and how it could be solved or become more lenient. Funding resources for foreign companies or foreigners who have their startups in Korea. More focused on seed investments. Opening of new free work space in gangnam (KIPs center) specifically for foreigners (expected August). So, they can come, and work with like minded founders or may be find co-founders too. And alot of other things which I can’t remember. Thats it for today. 😅 #transpify #meetup #sme #korea #startups #entrepreneurship #foundersupdate

India at the Helm of US Unicorn Startups!  Indian-born entrepreneurs are leading the charge in the US unicorn ecosystem, accounting for nearly 20% of all non-US-born founders. With 90 Indian unicorn founders, the country surpasses Israel, Canada, and China. As immigration policies tighten, will Indian innovation continue to thrive? Comment Below. #indiaipo #IndianInnovation #UnicornFounders #USStartups #ImmigrantEntrepreneurs #unicorn

🚀 Shaping the Future of European Startups Together! 🌍 Entrepreneurs and investors across Europe are joining forces under “EU Inc” to build a unified pan-European startup entity. This bold initiative has the potential to:  ✅ Simplify investment processes and break down barriers between European countries   ✅ Make employee stock options (ESOP) accessible across the entire European market   ✅ Streamline cross-border operations, from hiring international talent to the movement of capital  This initiative builds on the idea of introducing a "28th regime" as a single framework for innovative companies in the EU. Europe is brimming with potential! 🌱 Our startups are creating jobs faster than any other sector and driving innovation in key areas. Let’s position Europe as a global leader in competitiveness and innovation. 🌟  📢 Learn more and show your support by signing the petition. Details in the article 👉 https://shorturl.at/srDPt (SK) #InnovationInEurope #Startups #Entrepreneurship #FutureOfWork #TechEurope #EUInc #28Regime