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Flutterwave closes $250m Series D funding at $3bn valuation. 2 other things and a trivia

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

1. Flutterwave closes $250m Series D funding at $3bn valuation

Flutterwave, a Nigerian fintech company, has announced closing a fresh US$250 million in Series D funding.

The six years old startup noted that the new raiser will go into driving its expansion plan.

Tripling its valuation to over US$3 billion, the raiser was led by B Capital Group.

Other investors in the round include Alta Park Capital, Whale Rock Capital and Lux Capital, as well as existing investors such as Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital and Salesforce Ventures.

Flutterwave builds modern payments technology and infrastructure for Africa to enable people and businesses connect with the global economy.

One of its solution enables banks and merchants to replace multiple payment integrations with one simple API.

The startup attained a unicorn status less than a year ago when it closed a US$170 million Series C funding round to value at over US$1 billion.

Tech Trivia: In most programming languages, objects are defined as what?

A Classes
B Elements
C Attributes
D Arrays
Answer: See end of post

2. Nigeria’s CrowdForce secures $3.6m pre Series A round

CrowdForce, a Nigeria-based Y Combinator-backed agency banking platform, has enlarged its purse with a new US$3.6 million pre-Series A funding round.

READ ALSO: Vehicle maintenance startup, Mecho Autotech, closes $2.15m seed funding. 2 other things and a trivia

It was gathered that the startup looks to use the fund to increase its PayForce agent network three-fold this year to deepen its financial service offerings to underserved Nigerian communities.

The startup was founded by Oluwatomi Ayorinde and Damilola Ayorinde in 2015 as Mobile Forms, a data analytics platform that provided insights on hard-to-reach rural and semi-peri urban populations.

In 2018, however, the startup rebranded into CrowdForce, pivoting as an agency banking platform.

After rebranding, it developed a financial services distribution platform that can turn any merchant into a mobile bank branch within minutes.

According to the startup, the platform uses data analytics to build financial service products that truly tackle financial inclusion.

In addition, its PayForce product is a PoS-enabled system providing ATM services, transfer, and bill payments.

3. Gozem launches operations in Cameroon as new market

Gozem, Western Africa super app, has launched its taxi-booking service in Douala, Cameroon.

This comes after initial presence in Lome, Cotonou, Libreville, and several other West African cities.

In 2018, the app was launched in Togo as a taxi-hailing service, operating in 12 cities across Togo, Benin, Gabon and Cameroon.

Since 2018, the app has attracted more than one million downloads and has recorded over seven million trips since its launch.

Commenting on the development, Jean-Martial Moulaud, Gozem group director, noted that the goal was to introduce safe and affordable taxi experience to the people in Cameroon.

“We are very excited to bring Cameroonians a simplified, safer, and more convenient taxi cab solution,” he said.

“Based on our experience in other Francophone markets across West and Central Africa, we are convinced that Gozem’s innovative offering will create real value for Douala’s passengers and drivers now, and others across the country in the near future. Very soon, we will expand the range of services we offer in Cameroon to include motorcycles and delivery services, based on the needs of users,” he added.

Trivia Answer: Classes

An object, in object-oriented programming (OOP), is an abstract data type created by a developer.

It can include multiple properties and methods and may even contain other objects. In most programming languages, objects are defined as classes.

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