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LATEST TECH NEWS: Paystack joins Flutterwave as Fintechs supporting #EndSARS. 2 other things and a trivia you need to know today, October 13, 2020

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LATEST TECH NEWS: Paystack launches support for Nigerian, Ghanaian businesses. 4 other things and a trivia you need to know today, April 23, 2020

These latest stories from the tech space will keep you updated with trends today.

1. Paystack joins flutterwave as Fintechs supporting #ENDSARS

LATEST TECH NEWS: Paystack launches support for Nigerian, Ghanaian businesses. 4 other things and a trivia you need to know today, April 23, 2020

In solidarity to young Nigerians protesting to put an end to the alleged oppressive police unit SARS, money gateway firm Paystack has joined its counterpart, Flutterwave, to publicly support the movement. Paystack, calling on well meaning Nigerians to donate via Feminists_co platform, made this known on Monday, pledging a sum of N1,000,000 to the cause. According to Paystack, the company identifies with the movement, and going forward to lend its voice opposing police brutality. “We stand with all Nigerians opposing police brutality. Now more than ever, we must be brave,” Paystack tweeted.

In a follow up tweet, the Fintech firm noted that the fund was to assist with medical and legal expenses of protesters. The tweet read: “Members of the Paystack team have donated N1,000,000 to help pay medical and legal expenses for protesters demanding that #SARSMustEnd.”
This development comes on the heels of a similar show of generosity from Flutterwave, another Fintech player, which initially launched a donation portal for protesters welfare. However, counter allegations have surfaced on the internet, where some supposedly government sponsored influencers have been calling out companies supporting the #ENDSARS movement, tagging them as aiding civic unrest.


Tech Trivia:

Pick the odd app in the pack

A. TikTok
B. Likee
C. Skype
D. Instagram

Answer: See end of post.


2. PlusVC launches as Africa’s newest venture capital firm

PlusVC has announced its launch as the newest venture capital portfolio company in Africa, looking to support African tech startups. According to press, the new firm launched with a $60-million debut fund targeted at investing in early-stage tech startups in the Middle East and North Africa. Unlike general stage investor VCs, however, Plus VC will focus on early-stage tech startups for its first investment fund worth $60-million. Revealing the faces behind the new initiative, industry insights informed press that PlusVC was created by veteran investors, Hasan Haider and ex-google executive Sharif El-Badawi.

Read also: LATEST TECH NEWS: Global Startup Awards to expand across Africa. 2 other things and a trivia you need to know today, October 12, 2020

It is, hereby, expected that the firm will invest in over 100 tech startups with its initial fund. As leaders in the startup ecosystem arena, Haider and El-Badawi bring together over 35 years of experience in investing and operating to Plus +VC. In addition, having completed over 200 transactions together, the firm’s managing partners, according to portfolio experts, have a wealth of knowledge and proven track records of helping portfolio companies achieve operational milestones and building global companies.

3. Nigeria’s Evolve Credit secures pre-seed funding round

Evolve Credit, one of Nigeria’s lending marketplaces, has secured a pre-seed round of funding. The new raiser, as confirmed by the company, hopes to be invested in scaling its product. According to reports, the startup, through its products, allows users to compare loans and access unbiased insights from experts. Hence, with Evolve Credit, users can see which loan -pays faster, is easier to pay back, and offers the lowest rates, all in one place. Since its inception, the marketplace brings lenders and borrowers together in one place, and makes comparison easier.

Speaking on the core business model, reviewers noted that with the firm, lenders are able to accept loan applications, as well as handle tasks such as portfolio management, credit scoring, disbursement and collections through Evolve Credit’s cloud-based lending software. According to Akan Nelson, founder and chief executive officer (CEO) of Akan Credit, the firm, through its idea is on the road to connect Nigerians to potential lenders irrespective of location. “The startup is working to end paper applications in financial institutions, as well as increase inclusion and transparency in financial markets giving everyone access to credit regardless of where they are in Nigeria,” he said.


Tech Trivia Answer: Skype

Among the short video apps, Skype is odd. As a leading telecommunication app, Skype is a telecommunications application that specializes in providing video chat and voice calls between computers, tablets, mobile devices, the Xbox One console, and smartwatches over the Internet. Skype also provides instant messaging services. Users may transmit text, video, audio and images.

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