This line-up of stories will help you discover the latest happenings around the tech world, today.
Nairobi-based financial technology startup, Tanda, has announced securing an undisclosed amount of funding towards expanding its footprint.
The funding, according to media reports, was led by Cape Town-based venture capital (VC) company HAVAÍC, Zedcrest Capital, DFS Lab, Victor Asemota, and three other investors.
The funding is expected to fund the startup as it looks to expand its operations across Kenya.
In addition, however, Tanda has secured strategic partnerships with Mastercard and Interswitch, both of which will assist in the fintech’s growth.
Speaking on the development, Rob Heath, Partner at HAVAÍC explains why the VC decided to invest in Tanda.
“Tanda is solving one part of the very deep and complex problem of financial inclusion that is not only Kenyan but a problem across all emerging and undeveloped markets.
“HAVAÍC believes that the wider Tanda team has the right mix of skills, technical expertise, geographic market knowledge, and real-world experience to understand the challenges facing those left behind in the financial ecosystem.”
Tech Trivia: Who is considered as America’s greatest inventor?
A. Bill Gates
B. Thomas Edison
C. Adams Smith
D. Albert Einstein
Answer: See end of post.
Egyptian digital payments provider Paymob has on Monday, April 12, closed a Series A funding round at US$18.5 million.
The startup stated that the new raiser is expected to serve the startup in areas of expansion as it looks to enhance its product and scale regionally.
Founded in 2015 by Islam Shawky, Alain El Hajj and Mostafa Menessy, Paymob is an infrastructure technology enabler providing payment solutions to empower digital financial service providers through mobile wallet technology.
Media reports revealed that the startup’s mobile wallet infrastructure processes more than 85 per cent of the market share of the transaction’s throughput in the Egyptian market.
Today, the startup also serves merchants in five other markets, including Kenya, Pakistan and Palestine.
Paymob will use proceeds to continue expanding its merchant network, meet increasing demand, enhance its suite of products further, and fuel its regional expansion efforts.
Today, Rwandan electric motorcycle company Ampersand has raised a US$3.5 million investment from the Ecosystem Integrity Fund (EIF) in order to scale its operations.
Headquartered in Kigali, Ampersand assembles and finances electric motorcycles that are cheaper, cleaner and better performing than the five million petrol motorcycle taxis in use across East Africa.
According to media reports, its vehicles produce at least 75 per cent less carbon than petrol motorcycles and zero tailpipe emissions.
Industry experts speaking on its integrated service and model noted that Ampersand thrives on a network of battery swap stations.
Since its commercial launch in May 2019, Ampersand’s fleet of 35 drivers and e-motos have covered over 1.3 million kilometres, and over 7,000 drivers are on its waiting list.
The US$3.5 million investment from EIF will allow Ampersand to rapidly scale its electric motorcycle and swap station network in Rwanda, putting hundreds more e-motos on the road and dozens more battery swapping stations.
Tech Trivia Answer: Thomas Edison
Thomas Alva Edison was an American inventor and businessman who has been described as America’s greatest inventor. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures.
These inventions, which include the phonograph, the motion picture camera, and early versions of the electric light bulb, have had a widespread impact on the modern industrialized world.
Join the conversation
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...
INVESTIGATION…PARKVIEW ESTATE: Exclusive images of how billionaire property developer incurred Lagos govt‘s anger
Many have seen the demolished building, but not many know the circumstances that led to the teardown of the about...
INVESTIGATION… N.3bn down the drain, as Enugu communities suffer from dry taps
In November 2020, three organizations and the Enugu State government celebrated the completion of N300 million worth of projects that were expected...
INVESTIGATION… How herdsmen crisis compounds woes of already deprived Ogun communities
Earlier in January, the Nigerian media space was awash with reports of violence between herders and farmers across the country....
Investigation… Inside Enugu markets where traders are choked by multiple taxes
In recent times, the world economy has developed tremendously and this is partly linked with activities of petty traders who...
SportsBusiness: How COVID-19 slashed Leicester’s FA Cup prize & why Arsenal rejected Ek’s money
On this edition of SportsBusiness, Ripples Nigeria’s Ben Ugbana takes a look at the slashed prize money won by recently-crowned...
CAFCC Q’finals: Enyimba walk a tightrope after heavy first-leg defeat at Pyramids
Nigeria Professional Football League (NPFL) club, Enyimba will be hoping to have a superb outing when they host Pyramids FC...
BREAKING… Oshoala wins historic Women’s Champions League title with Barcelona
Super Falcons forward, Asisat Oshoala has helped her club, Barcelona Femeni to win the 2020/21 UEFA Women’s Champions League. Oshoala...
NPFL: Musa bags assist in Pillars’ win but Akwa Utd maintain lead
Super Eagles captain, Ahmed Musa was in action for Kano Pillars and bagged an assist while at it as his...
Barca out of La Liga title race, Madrid in contention ahead of final day
Barcelona fell to a surprise 2-1 defeat at home against Celta Vigo on Sunday to end their hopes of clinching...
Latest Tech News
AlphaCode awards R2-m to support Fintech startups. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. AlphaCode awards R2-million...
TechNigeria: A weekly digest of what went down in Nigeria’s tech space
Today, let’s do a quick one on: • Afrinurse launch • Cyber crime via messaging apps • CDcare launch •...
Nigeria’s CDcare launches zero-interest, pay-later platform. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Nigeria’s CDcare launches...
Nigeria’s ClassNG launches as open marketplace for education. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Nigeria’s ClassesNG launches...
Healthtech startup launches engagement app for African nurses. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. Healthtech startup launches...
GirlCode partners Amazon to upskill unemployed women. 2 other things and a trivia
This line-up of stories will help you discover the latest happenings around the tech world, today. 1. GirlCode partners Amazon...