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Kenyan SaaS provider, Leta, secures $3M to expand African footprints. 2 other stories 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. Kenyan SaaS provider, Leta, secures $3M to expand African footprints

A Kenyan supply chain and logistics SaaS provider, Leta, has secured $3M to expand its geographical footprints in Africa.

Leta founder and CEO, Nick Joshi, confirmed the funding in a media release on Tuesday.

The 4Di Capital, Chandaria Capital, Chui Ventures, PANI, Samurai Incubate, and Verdant Frontiers Fintech participated in the round.

Other investors include Cellulant co-founder, Ken Njoroge, and Google executive, Charles Murito.

Leta is building a proprietary route and load optimization technology designed to boost efficiency in the delivery of goods to customers, and reduce the number of vehicles needed for distribution.

“The capital we have raised will help us to quickly scale into new markets beginning with Ghana, where we will launch in December,” Joshi explained.

Tech Trivia: Which of the following statements best describes an Internet broadcast?
A. It is an on-demand video or audio clip that users can download.
B. It is media streamed between two distinct locations.
C. It is the distribution of content from a single source to multiple recipients.
D. It is an audio or video stream shared with a specific number of users.
Answer: see end of post

2. UAE’s FinTech startup, Qashio, secures $10 million seed round

Qashio, a UAE FinTech startup, has announced securing $10 million in a funding round supported by global investors such as One Way Ventures, MITAA, and Cadorna Ventures.

Read also:Nigerian fintech startup, Kuda, launches digital banking in UK. 2 other stories and a trivia

Armin Moradi, CEO, and co-founder of Qashio confirmed this in a statement on Tuesday.

Launched in 2021 by Jonathan Lau and Armin Moradi, Qashio claims it issues employee corporate cards programmatically and has a spend management platform that enables business owners and finance leaders full visibility and control of all expenses.

The funding also saw participation from regional investors such as Sanabil 500 MENA, Nuwa Capital, Iliad Partners, Phoenix Investments, and strategic family offices and angels.

“We are committed to helping companies move away from all those manual finance processes and get more visibility and control by providing a secure, safe solution that is ready for enterprise-grade deployment as well as SMEs,” Moradi noted.

Moradi further noted that the funding will enable Qashio to expand hiring and growth into Saudi Arabia and other parts of the GCC.

3. App-based startup, Cobee, secures $41M to expand to other Spanish- and Portuguese-speaking markets

A Spanish company, Coble, has secured €40 million ($41 million) in a Series B round of funding co-led by Octopus Ventures and Notion Capital.

Itxaso del Palacio, a partner at Notion, confirmed the funding in a statement on Tuesday.

The funding also saw participation from previous backers Balderton Capital, Speedinvest, and Dila Capital.

Cobee claimed it built a platform and app to make organizing and accessing these a little easier by way of an app, a payment card (physical or virtual), and integration with payroll.

“What’s unique about Cobee, compared to other players in this space, is their flexible platform, capable of being adapted to different company types and different countries with little friction,” said Itxaso del Palacio.

The company said it would use the funds to expand to other Spanish- and Portuguese-speaking markets in Latin America, starting with Mexico.

Trivia Answer: Internet Broadcasting

Internet broadcasting is the distribution of content from a single source to multiple recipients. It is similar to multicasting but does not limit the number of users.

By Kayode Hamsat

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