Flow secures $4.5M pre-Series A funding. 3 other stories and a trivia

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

1. Flow secures $4.5m pre-Series A funding

A South African proptech marketing platform, Flow, has secured $4.5M in pre-Series A funding.

Co-founder and co-CEO, Gil Sperling, confirmed the funding in a statement on Wednesday.

The South African firm claims it seeks to transform the relationships between real estate agents, developers, brokers, and their clientele.

Ripples Nigeria understands that Gil Sperling and Daniel Levy, co-founders and co-CEOs of Flow, will use the investment to push the company’s B2B development plan and incorporate Flow’s social media-driven real estate marketing platform into current global property portals and CRM platforms.

“Our route to market, for the most bit, has been going door-to-door from franchisor to franchisee to different offices within that group,” stated the co-CEO.

Futuregrowth Asset Management served as the round’s lead investor, contributing $2 million to Flow.

Along with Endeavor Harvest Fund and seasoned businessman Steven Heilbron, the round also included three new investors: Kalon Venture Partners, Vunani Fintech Fund, and Buffet Investments.

Tech Trivia: Which application is not part of Microsoft Office?
A. Excel
B. PowerPoint
C. WordPerfect
D. Outlook
Answer: see end of post

2. MENA-based BNPL startup, Tabby, secures $58m from VC

Middle East and North Africa-based buy now, pay later (BNPL) startup, Tabby, has secured $58 million led by Sequoia Capital India and STV.

Co-founder and CEO, Hosam Arab, confirmed the funding in a statement seen by Ripples Nigeria on Wednesday.

With the new funding, the Dubai-based startup is valued at $660 million.

PayPal Ventures is one of the participating investors to mark its first investment in the Gulf Cooperation Council (GCC) but second in the MENA region after Egyptian fintech, Paymob.

Other investors in Tabby’s new financing round include Mubadala Investment Capital, Arbor Ventures, and Endeavor Catalyst.

Tabby claims it allows users to shop with flexible payments online and in-store from global brands.

Read also:Proptech startup, AtarCloud, secures $1.3m Seed Round. 2 other stories and a trivia

“From a credit risk perspective, consumers are not overstretched as they don’t have two or three credit cards.

“So from a demand perspective, there’s a real gap and opportunity that we are filling,” Arab explained.

3. Carry1st secures $27 million from Bitkraft Ventures and a16z

Carry1st, an African gaming business, has secured $27 million from Bitkraft Ventures and a16z.

The new funding was contained in a statement from Chief Executive Officer Cordel Robbin-Coker, seen by Ripples Nigeria on Wednesday.

Launched in 2018, Carry1st bills itself as a publisher of social games and interactive content across Africa.

The pre-Series B round also saw participation from TTV Capital, Alumni Ventures, Lateral Frontiers VC, and Kepple Ventures.

“We are delighted to partner with BITKRAFT, one of the world’s top gaming VC firms, alongside a16z and other existing investors as we continue on our mission to scale awesome content in Africa,” stated Robbin-Coker.

Carry1st was founded by Cordel Robbin-Coker, Lucy Hoffman, and Tinotenda Mundangepfupfu.

4. Jury selected for Elon Musk trial over Tesla buyout tweets

A nine-person jury, on Tuesday, sat to hear a trial involving Tesla CEO, Elon Musk.

The court case is expected to determine whether Musk cheated investors by claiming he had lined up financing to take the electric automaker private in a series of tweets in 2018.

The Tuesday session lasted for five-hour, and will continue on Wednesday.

Musk is expected to bring in a testimony that will explain his position.

In 2018, the Tesla tweet had reportedly fueled a rally in the company’s stock price that abruptly ended a week later after it became apparent that he did not have the funding for a buyout after all.

Reacting to what was considered as a deceit, stakeholders sued him, saying that Tesla shares would not have swung so widely in value if he had not dangled the prospect of buying the company for $420 per share.

Musk, before buying Twitter, has been a controversial billionaire, especially on social media.

While his tweets have always influenced buying and selling decision of stocks in the capital market, it often attracted the attention of securities regulators, who concluded that it was improper and that he was wrong for making such comments.

Trivia Answer: WordPerfect

Microsoft Office is available in several editions, including multiple applications. All Office editions include the three standard programs, Word, Excel, and PowerPoint

By Kayode Hamsat

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