FinMont partners dLocal to boost African payments. 2 other stories and a trivia

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

 

1. FinMont partners dLocal to boost African payments

 

Germany-headquartered fintech startup, FinMont, has announced a new partnership with an emerging markets payment provider, dLocal, as the duo look to bring significant benefits to Africa and other emerging economies.

FinMont made the announcement in a press statement seen by Ripples Nigeria on Tuesday, where it stated that the startup entered into the partnership to invest aggressively in the tech Ecosystem.

Ripples Nigeria gathered that FinMont, launched by the founders of German airline Hahn Air, aims to streamline both B2C and B2B payments.

Since its establishment and launch by the German venture capitalist, the startup offers a comprehensive solution for the travel industry.

By partnering with dLocal, a leading cross-border payments facilitator and technology company, FinMont will gain access to a wide network of high-growth, emerging economies in Africa, Asia, and Latin America.

Meanwhile, the startup noted that the partnership will also enable its platform to connect seamlessly with multiple banks and providers through a single gateway, as it looks to revolutionize payment processes.

 

TECH TRIVIA: What adjective describes peripherals that do not require driver installation?

 

A. Grab and go

B. Plug and play

C. Bump and run

D. Mix and match

Answer: see end of post

 

2. Egypt’s CardoO launches IoT-enabled smartwatch

 

Egyptian Internet of Things (IoT) startup, CardoO, has launched its first IoT-enabled smartwatch.

The launch marks the company’s debut in the device market.

According to CardoO, the goal of the team is to simplify and enhance the lifestyle of its users through advanced features and connectivity.

Ripples Nigeria gathered that CardoO facilitates access to the latest affordable consumer electronics and IoT devices for MENA consumers.

Before the launch, the startup raised a US$660,000 seed round of funding last October to help it achieve its goal of becoming the leading Arab brand for premium and price-effective smart devices.

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“With its sleek design and premium build quality, it is a perfect companion for individuals seeking a balance between style and technology. Packed with powerful features, the CardoO Watch offers an array of functionalities to cater to the diverse needs of modern-day consumers,” the startup stated.

“We are thrilled to introduce the CardoO Watch, our first IoT-enabled product that combines style, functionality, and connectivity,” said Ahmed Adel, founder and CEO of CardoO.

“Sleek design meets functionality in CardoO Watch, making it the perfect companion for a fashionable and active lifestyle. With its advanced features and seamless integration with the CardoO mobile app, the CardoO Watch represents a significant milestone in our commitment to delivering innovative and accessible smart devices to our valued customers. We are proud to have developed this Egyptian technology product by a team of Egyptian developers in the company.”

 

3. Morocco’s PrestaFreedom closes US$1.1m from Azur Innovation Fund

 

Morocco-based PrestaFreedom, a home services marketplace, on Tuesday, May 30, 2023, announced it has closed a US$1.1 million led by Morocco’s Azur Innovation Fund.

The new funds, according to PrestaFreedom, will be invested in its logistics and technology development.

The three year old startup noted that its aim was to boost the company’s expansion to the African markets by the coming year.

The startup offers a host of home maintenance services on a monthly and weekly subscription basis.

“We are proud of the opportunity offered by our Azur Innovation Fund partners. It is a crucial step in the development of the startup that I launched a few years ago, and it supports the goal of meeting a need in the Moroccan market,” Majid Benslimane, founder and CEO of PrestaFreedom said.

Besides this round, PrestaFreedom said it also managed to raise several others to accelerate its go-to-market efforts.

Trivia Answer: Plug and Play

Plug and Play, sometimes, abbreviated PnP, is a catchy phrase used to describe devices that work with a computer system as soon as they are connected.

The user does not have to manually install drivers for the device or even tell the computer that a new device has been added. Instead the computer automatically recognizes the device, loads new drivers for the hardware if needed, and begins to work with the newly connected device.

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