Opolo Global Innovation’s Post

The closure of accounts for Nigerian startups by Mercury Bank could shake foreign investor confidence and disrupt the local startup scene. Read the full article here: https://lnkd.in/dR9S3u3G #FinanceNews #TechStartups #GlobalInvestment #NigerianTech #365marktech #365marktechafrica

Here’s a summary of some notable events that happened in the African tech ecosystem this week 1️⃣ SEAMFIX a Nigerian digital identity solutions provider, raised $4.5 million in private equity funding from Alitheia ID, marking its first institutional investment 2️⃣ Swypex announced its launch following a $4 million seed investment round led by Accel, Foundation Ventures, The Raba Partnership, and angel investors. 3️⃣ Microsoft announced that it was letting go of its entire engineering team in Nigeria 4️⃣ Alerzo lays off at least 70 people making it the fourth time the company has reduced it's workforce 5️⃣ Pan-African fintech startup Chipper Cash is back in business for US users after a two-month hiatus. 6️⃣ The Central Bank of Nigeria (CBN) announced a 0.5% levy on applicable electronic transactions, For more news and information about tech events like this, subscribe to our newsletter here https://lnkd.in/ddQ5xfN8

Nigerian fintech startup Risevest is in discussions to acquire Invest with Hisa, a Kenyan startup that provides access to US stocks. If successful, this acquisition will enable Risevest to expand into the Kenyan market without the need for new licenses or entity registration. This would mark Risevest’s second acquisition following its purchase of digital trading startup Chaka in September 2023. Talks began in late 2023, and while terms remain undisclosed, Hisa was valued at $5 million post-money after raising $250,000 in pre-seed funding in 2022. Hisa was co-founded by Erick Asuma and is licensed by the Capital Markets Authority of Kenya and the Nairobi Securities Exchange. It offers fractional ownership of stocks, making investments accessible to a broader audience. #Fintech #Kenya #Nigeria #Africa

🌟 Good news from #Africa's tech scene! IFC - International Finance Corporation is investing in P1 Ventures, a pan-African #VentureCapital fund focused on pre-seed & seed-stage #startups in key sectors like health tech, fintech, ecommerce, and software. Read more about the fund here 📲https://lnkd.in/edjYzYHf "IFC and P1 Ventures share a commitment to help ambitious African startup founders succeed in nascent venture capital ecosystems and expand regionally and even globally," said P1 Ventures Co-Founder and General Partner M. Mikael Hajjar. This investment is supported by #IFCStartupCatalyst, a platform designed to invest in incubators, accelerators, and seed funds focused on empowering innovative entrepreneurs and early-stage startups in emerging markets through mentoring, networking, and funding. Learn more about the program here 📲 https://lnkd.in/gF8vXPtR IFC Disruptive Tech, VC & Funds IFC Africa #AfricanStartups #DisruptiveTech #VC #VentureCapital #Investors #digitaleconomy 

Africa’s fintech ecosystem has seen a surge in investment over the last few years, driven by a combination of technological advancements, a young population, and rising demand for financial inclusion. As a result, several key investors have stepped forward to fuel this growth, helping fintech startups scale rapidly and expand their reach across the continent. Here’s a look at the top five fintech investors who are playing a pivotal role in transforming Africa’s financial landscape. 1. Partech 2. Quona Capital 3. Accion Venture Lab 4. Helios Investment Partners 5. Visa To read the full article, visit https://lnkd.in/d8pDZPAb #fintech #investors #startupinvestment #startup #africa #fintechstartups #businessverge

In 2022, a staggering 47% of startup failures were due inability to raise funds! This highlights the importance of funding for startups, as even the most innovative ideas need a steady cash flow to survive. Our General Partner and CEO of South East Asia fintech leader Fazz, Hendra Kwik, shares key insights on successfully raising funding during uncertain times in an interview with HUB.ID. Link to the full interview in the comment section! #ThisIsMAGIC #Inspire #Equip #Amplify #VentureCapital

The #CreditGuaranteeScheme for Startups plays a crucial role in reducing the risk for financial institutions and provides venture debt to early-stage businesses. To know more about the scheme, visit: bit.ly/3srUwFp #StartupIndia #CGSS #BusinessLoan #FinancialAssistance #CollateralFreeLoans #IndianStartups #StartupLoans #DPIIT

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

As an #entrepreneur, dreaming big isn't just a part of the job; it’s essential. Make sure it's on your calendar! I remember back in 2022, sitting down with Dániel Gockler over a cup of coffee, discussing our dreams and ambitions. I laid out a blueprint for a fintech #startup aimed at supporting investors truly invest in people - going beyond superficial metrics and making team assessments as quantifiable as EBITDA or ARR. Daniel shared his vision for an innovative #venturecapital fund focused on backing the best ClimateTech founders in the CEE region. Fast forward two years... Daniel and David Fodor have launched a €750,000 micro fund called Nesprit, and my company, ETA Technologies, is proud to be helping them identify the highest-potential founding teams to invest in. https://lnkd.in/dpu2AtnZ

The #CreditGuaranteeScheme for Startups plays a crucial role in reducing the risk for financial institutions and provides venture debt to early-stage businesses. To know more about the scheme, visit: bit.ly/3srUwFp #StartupIndia #CGSS #BusinessLoan #FinancialAssistance #CollateralFreeLoans #IndianStartups #StartupLoans #DPIIT