This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Canadian fintech startup, Periculum, launches in Nigeria
Periculum, a Canadian fintech startup and credit assessment company, has made a new market entry with launch in Nigeria.
The startup seeks to solve challenges of domestic credit in underserved markets.
Periculum is headquartered in Ontario, Cananda, and focuses on improving financial inclusion in emerging markets through automated credit assessment tools.
The fintech startup was founded by Michael Temitope Collins in 2019, to close the consumer credit gap and help financial institutions provide credit facilities to the financially excluded.
Periculum has raised a total of $717.8K in funding over 3 rounds with the latest round in September, 2021.
Speaking on the new expansion, Michael Collins noted that there was need for investment into the space as Africa needed more resources to fill up existing financial gap.
He said: “Africa needs domestic credit to stimulate real economic growth. And this is not only bank-to-business credit; it can also be digital lending for short-term credit as well as “buy now, pay later” schemes.”
Tech Trivia: What protocol is commonly used for web publishing?
Answer: See end of post
2. Nigeria’s restaurant management startup, Orda, closes $1.1m pre-seed
Orda, a Nigerian restaurant management startup, has announced closing a US$1.1 million pre-seed funding round.
It was gathered that the new raiser is expected to speed Orda’s growth and further expand its hold across the continent.
The restaurant management startup was launched in 2020 as a cloud-based provider providing a unique operating system to power African restaurants.
Orda is based in Lagos, and currently works with popular African and global restaurants including Barcelos, Eric Kayser, Johnny Rockets and Ofadaboy.
Commenting on the development, the startup noted that the US$1.1 million pre-seed round was led by Lofty Inc Capital Management.
Other VC that participated in the round include Techstars – Boulder, Magic Fund, Hustle Fund, Norrsken Foundation, Microtraction, DFS Labs, Oxford Seed Fund, Enza Capital and Agrolay Advisors, as well as Ire Aderinokun, Jesse Ovia, Ademola Adesina and other angel investors.
3. India’s Arya secures $60 million to pilot growth
Leading Agritech startup, Arya, has secured $60 million in a new financing round.
The round comes as the Indian startup looks to launch into a new phase of growth.
The startup claims to reach hundreds of thousands of farmers in the South Asian market, helping them store and sell their produce and secure credit.
Ripples Nigeria gathered that Asia Impact SA, Lightrock India and Quona Capital co-led a part totalling $46 million.
Meanwhile, US International Development France Corporation and others was said to provide the additional $14 million as debt.
The new fund will help Arya continue on its vision to solve three challenges that have distressed farmers in India for decades.
Trivia Answer: FTP
Stands for “File Transfer Protocol.” FTP is a protocol designed for transferring files over the Internet. Files stored on an FTP server can be accessed using an FTP client, such as a web browser, FTP software program, or a command line interface.
An FTP server can be configured to enable different types of access. For example, an “anonymous FTP” configuration allows anyone to connect to the server. However, anonymous users may only be allowed to view certain directories and may not be able to upload files. If anonymous FTP access is disabled, users are required to log in in order to view and download files.
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