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Cairo-based fintech startup Dayra secures $3m. 2 other things and a trivia



These latest stories from the tech space will keep you updated with trends today.

1. Cairo-based fintech startup Dayra secures $3-million pre-seed

Egyptian fintech startup Dayra has announced securing $3-million pre-seed which analysts have described as the largest debt and equity Pre-Seed round in the region.

The funding comes as the startup joins Y Combinator’s (YC) Winter 21 group.

The startup stated that the Pre-Seed round was led by Tanmiya Capital Ventures, EFG EV Fintech, EFG Hermes, and Y Combinator, as well as other prominent angel investors.

Speaking on the development, founder and CEO, Omar Ekram, expressed his excitement on the milestones recorded by the startup.

He said: “We are thrilled to be part of YC’s W21 batch and to close our pre-seed round.

“This is a key milestone in realising our vision of providing the most accessible financial services solution in MENA, and delivering digital financial services to millions of financially excluded individuals, leveraging on our strategic partnership with EFG Hermes.”

Tech Trivia: The issuing company of VerveCard is a Fintech with … origin while that of MasterCard is … origin.
A. Chinese, American
B. Nigerian, American
C. Chinese, Nigerian
D. American, Japanese
Answer: See end of post.

2. Foodtech startup UCOOK expands offering for local clientele

UCOOK, a Cape Town-based foodtech company has expanded its offering, adding baby food to its existing meal kit delivery service.

The new service, according to the startup, was inspired by its vision to constantly pair excellent nutrition with healthy convenience since inception.

When asked about new market, and how the startup intends to win a market share, David Torr, CEO of UCOOK, explained that the startup looks to deliver the freshest ingredients from a range of small-scale farmers across the country.

“Excellent nutrition paired with healthy convenience has been at the heart of our operation since inception. It made sense to serve the needs of the whole family to make the lives of our primary consumers that much easier.

“We strive to deliver the freshest ingredients from a range of small-scale farmers across the country, and the ethos extends to the development of our baby range.”

He added that the ready-made baby range of food will be available for all the stages of weaning of babies.

3. Cape-Town launches Mobile business help desk for SMEs

Today, the City of Cape Town has launched the Mobile Business Hub to support the growth and recovery of the SME sector in the local economy.

Officials of the newly launched resource will be visiting several communities in Cape Town to offer onsite business support.

Dan Plato, Executive Mayor of the City of Cape Town, who commented on the implementation of the tool noted that there was need to introduce the system as the pandemic had subjected business to limitations.

He said: “It is significant that we bring this service directly to residents. Businesses are often operating directly within communities and with the Covid-19 pandemic adding limitations and pressures to the way business is done.

“Hence, we need to be more innovative to assist entrepreneurs with growing their skills and expanding their income opportunities. Now more than ever, we can offer support to enable people to start new ventures and empower themselves.

“A small business owner is feeding a family, paying school fees, and trying to create security for their family. I applaud the courage and determination needed to start a business and with the advice offered by this mobile service, we can help people create their own future. “

Tech Trivia Answer: Nigerian, American

Headquartered in Lagos State, Verve International is a Nigerian Pan-African and multinational financial technology and payment card brand owned by Interswitch Group while Mastercard is an American Fintech giant.

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