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Lagos-based ZirooPay raises $11.4M to scale venture. 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. Lagos-based ZirooPay raises $11.4M to scale venture

ZirooPay, a Lagos-based agency banking startup, has raised an $11.4 million Series A round led by local VC, Zrosk Investment Administration.

The investment, according to the startup, will help it expand its product features as well as accelerate its team’s growth.

ZirooPay is an app-based platform deploying fintech solutions to facilitate payments.

Through its proprietary app, users can make payments, sets VAT, and issue refunds.

Speaking on the development, Samson Esemuede, Managing Director and Chief Investment Officer of Zrosk, noted that the offline economy has surpassed the online economy, adding that the situation is serving as an added advantage for the startup.

He said: “The growth in the online economy of the African continent has been remarkable; however, the offline economy is orders of magnitude larger than the online economy.

“ZirooPay has a patented technology advantage (that works without an internet connection) and distribution model that significantly increases the odds of digitizing the offline economy at a unit cost that makes the story particularly compelling. The payment space has become well-resourced and competitive, but the white space we see in the digitization of cash is the reason we are optimistic about the outlook for this investment.”

Tech Trivia: What system is specifically used to manage multiple versions of programs and files?
A File Manager
B Windows Explorer
C Version Control
D Finder
Answer: See end of post

2. Egyptian startup, 07Therapy, closes USD 2.1M

Egyptian health-tech startup, O7Therapy, has announced closing a USD2.1M seed round.

The round, which was led by Hikma Ventures, saw the participation of other angel investors including C-Ventures, and Lotus Ventures.

READ ALSO: Egyptian startup Nawy closes 7-figure seed round. 2 other things and a trivia

O7 Therapy is a refined, scientific, and research-based online platform, established to support mental wellness by developing trusted protocols for data encryption and storage.

The Cairo-based organization was founded in 2019 by Ashraf Bacheet (CEO), Ashraf Adel, and Nader Iskander.

Commenting on the product, Nader Iskander, Co-founder O7 Therapy, said the app was built to contribute to the bottom line of the economy by improving the lives of users.

He said: “Our Investment in mental wellbeing improves the lives of individuals in all areas of life; their student life, work, homes, family, friends and even physical health.

“This in turn improves the performance of entrepreneurs, SMEs, corporate and government employees, positively affecting countries economically”

3. Epic Games secures USD144M for Ukrainian war victims

Fortnite maker, Epic Games, has secured a $144 million to support Ukrainian war victims.

The raiser comes in conjunction with Xbox, a video gaming brand owned by Microsoft.

According to local media, funds from Epic Games were realized from in-game sales, including cosmetic in-game items and virtual currency bought in shops and online.

Xbox, on the other hand, donated fees it would usually take on items bought by players in Fortnite.

Epic Games, in a press statement, noted that the donation will be committed to the victims through DirectRelief, UNICEF, WFP, and WCKitchen.

The statement reads: “Together with the Fortnite community and Xbox, we raised $144m for Direct Relief, Unicef, UN World Food Program, United Nations High Commissioner for Refugees, and World Central Kitchen in support of their humanitarian relief efforts for people affected by the war in Ukraine.”

Trivia answer: Version Control

Version control is used to manage multiple versions of computer files and programs.

A version control system, or VCS, provides two primary data management capabilities.

By: Kayode Hamsat

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