Kenya’s fintech startup, Paylend, raises $2m seed funding. 2 other things and a trivia

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

1. Kenya’s fintech startup, Paylend, raises $2m seed funding

Paylend, a Kenyan fintech startup, has announced raising US$2 million in seed funding to expand operations at home.

The raiser comes as the startup sought to launch in Tanzania, Zambia and Nigeria.

Paylend was founded in 2019 by Bendon Murgor and Eliutherius Juma.

The startup digitises the manual, black book recording of data traditionally used by MSMEs.

Today, the startup has digitised over 10,000 SMEs, providing an array of services including access to credit and crowdfunding tools.

The new raiser was led by Next Chymia Consulting HK Limited, an Asian company that provides blockchain applications, consultancy services and training to global entities.

Tech Trivia: What is the purpose of an NMS?

A It monitors one or more networks
B It detects and repair storage device issues
C It ensures accurate colors are displayed on a monitor
D It enhances audible audio frequencies

Answer: See end of post

2. S. Africa’s Isizwe raises $460k from Global Innovation Fund

South Africa’s internet service provider, Isizwe, has has raised US$460,000 in funding from Global Innovation Fund (GIF).

READ ALSO: Agri-fintech startup HelloChoice closes investment from Standard Bank. 1 other thing and a trivia

The startup offers online access to low-income communities in South Africa.

The new investment is expected to help the startup de-risk its model and encourage further investment.

The startup, according to local media, was launched as Project Isizwe in 2013.

The startup grew into offering unlimited Wi-Fi access in townships and informal settlements on a low-cost, pay-per-use basis.

Today, the startup has built Wi-Fi Zones with Wi-Fi hardware that connects to internet service providers (ISPs).

3. MINT Incubator opens call for application in Egypt

Powered by EGBank and Cairo Angels, the MINT Incubator has opened applications for its latest edition.

The incubator helps startups grow and become investment-ready.

Commenting on Cairo Angels’ involvement, media sources noted that the angel investor is popular for supporting startups across the Middle East and Africa.

Launched in 2018, the three-month programme features a series of mentoring sessions and workshops.

The incubator will cover topics such as finance, sales, marketing, growth hacking, accounting basics, legal, governance, retaining talent, and branding.

Trivia Answer: NMS

Stands for “Network Management System.” An NMS is a system designed for monitoring, maintaining, and optimizing a network. It includes both hardware and software, but most often an NMS refers to the software used to manage a network.

Network management systems provide multiple services.

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