Esusu and Chipper Cash make Forbes Fintech 50 list. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today

1. Esusu and Chipper Cash make Forbes Fintech 50 list

American business magazine, Forbes, has included two African-owned startups, Chipper Cash and Esusu, among 2022 Edition or Forbes Fintech 50.

The latest Forbes Fintech 50 winners were confirmed on the Forbes official website on Wednesday.

Ripples Nigeria gathered that Chipper Cash was founded by two Africans, Uganda’s Ham Serunjogi and Ghana’s Maijid Moujaled.

Chipper Cash was founded in 2018 and has since expanded its payments footprint in Ghana, Uganda, Tanzania, Rwanda, South Africa, Kenya and Nigeria.

Describing Chipper Cash, Forbes stated: “One new standout is Chipper Cash, a San Francisco-based startup launched by two twenty-somethings from Uganda and Ghana that helps Africans transfer money cheaply, buy U.S. stocks and invest in crypto. Founded in 2018, it already has more than five million users and a $2.2 billion valuation.”

On the other hand, Esusu provides rent reporting, property management analytics, and rental assistance unlocking financial access for renters and property owners.

The startup is co-owned by Ghanaian Abbey Wemimo and Samir Goel, was founded in 2018.

Tech Trivia: Which acronym refers to landline telephones?
A POTS
B STOP
C TOPS
D SPOT
Answer: see end of post

2. AI-based open banking platform, Bud Financials, secures $80m Series B

An AI-based open banking platform, Bud Financials has announced securing $80M Series B funding to expand into two more countries.

Read also :Female-led startup, Klasha, secures additional $2.1m seed round. 2 other stories and a trivia

Ed Maslaveckas, the CEO and co-founder, confirmed the development in a statement on Wednesday, noting that the fund will be used for R&D and expanding into new markets.

Ripples Nigeria gathered that the Series B round was led by Bellis Phantom Holdco ltd, and saw participation from SEI investments Outward VC and others.

Bud Financials, which is a provider of an AI-based open banking platform, helps bank power lending and other personalized products.

The United Kingdom-based fintech was founded in 2015 by George Dunning, and Edward Maslaveckas.

Maslaveckas while commenting on the raiser and intent said:

“Fundamentally we all think it should be easier to be good with money, so all the APIs we built are built with that in mind.

“Being good with money often boils down to two main concepts: not overspending what you cannot pay back (but while keeping liquidity and activity bubbling along), and investing to grow your money, and those are, loosely, two of the more popular “intelligence” services that Bud helps to power: it helps banks amass and utilize transaction insights, and to better assess risk around credit-based products.”

3. Insurtech startup, Nice Deer, raises $1m Pre-SEED round

An Egyptian health insurance startup, Nice Deer, has announced raising $1 million in a pre-seed funding round led by DisrupTech Ventures.

Mustafa Medhat, CEO of Nice Deer confirmed the latest funding on Tuesday.

The Cairo-based startup bridges the gap between health care providers, and companies by facilitating insurance and repayment of insurance claims.

Mustafa Medhat founded the startup in 2022 and currently operates in Egypt.

Ripples Nigeria gathered that the Insurtech use AI technologies, to prevent abuse in the health insurance sector and early detect any fraud attempts.

Speaking on the development, Mustafa said:

“Nice Deer aims to become the helping arm of the insurance industry in Egypt to grow smoothly and work to close the gap between providers and beneficiaries through a number of pioneering medical services and solutions in line with the unified insurance law.”

Trivia Answer: POTS

Stands for “Plain Old Telephone Service.” POTS is the traditional telephone system that has been around for nearly 150 years. It operates over copper wires and was designed for analog signal transmission.

For most of the past century, POTS has been the primary telecommunications medium. The infrastructure, such as telephone poles and telephone wires, can be found throughout the United States and around the world.

By Kayode Hamsat

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