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LATEST TECH NEWS: S’Africa’s inQuba lands expansion capital funding round. 2 other things and a trivia you need to know today, December 4, 2020

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

1. South Africa’s inQuba lands expansion capital funding round

South African startup inQuba has announced closing a round of expansion capital to drive its growth. The fund, according to reports, is expected to help it enhance the capabilities of its platform and accelerate its international expansion.

For a while now, customer journey management systems have been instrumental to tracking, analysing and optimising the manner in which prospects and customers traverse customer journeys and channels over time.

The inQuba startup uses diverse data sets of transactional and perceptual data, advanced analytics and machine learning to gain deep insights into customer journeys, customer behaviour and the overall customer experience.

Industry reviews reveals that the company has clients across Africa, the United States (US) and Asia-Pacific, with a focus on financial services, insurance, telecommunications, e-commerce and retail industries.


Tech Trivia:

Which billionaire takes a nickname after I/T giant Oracle?

A. Mark Zuckerberg
B. Jack Ma
C. Warren Buffett
D. Jack Dorsey

Answer: See end of post.


2. Google regional accelerator opens application for North African startups

Google’s first Middle East and North Africa (MENA) startup accelerator programme has, on Friday, opened application for startups from Algeria, Egypt, Libya, Morocco, Sudan and Tunisia. Earlier announced in October as part of the Grow Stronger with Google regional programme, the Google for Startups Accelerator: MENA is a three-month digital programme for seed to Series A tech startups in the MENA region. According to Google, the initiative is also open to companies from Bahrain, Iraq, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, Palestine, United Arab Emirates (UAE) and Yemen.

Read also: LATEST TECH NEWS: CcHub launches investment to support African startups. 2 other things and a trivia you need to know today, December 3, 2020

However, Google noted that the programme will run virtually from January and will include between 10 and 15 startups. And, that selected startups will be paired with relevant experts from Google and the industry to solve challenges they are facing in their businesses. As part of benefits, selected startups will also receive mentorship on both technical and business challenges as well as access to workshops covering machine learning technologies, product design/UX, customer acquisition, and leadership development for founders.

3. Planet42 closes $10m in debt round

Planet42, South Africa-based car subscription company has announced raising a US$10 million debt funding round to help it scale its operations and move into new markets. The South African startup helps individuals ignored by banks to get access to a personal vehicle. In 2017, the startup was launched as CarGet. The business model reveals that Planet42 has partnered with dealerships across South Africa to offer access to a personal car to its largely underbanked clientele.

For easy administration, the startup uses an automated scoring algorithm to process client applications based on credit bureau, affordability, and alternative data. Upon approval of application, Planet42 analyses the customer’s validation documents before purchasing the car from the dealership and renting it to the customer. On grounds of security, however, the asset is secured with tracking technology, as well as comprehensive and mechanical insurance. As of November 2020, Planet 42 has bought and delivered over 2,000 second-hand cars in South Africa.


Tech Trivia Answer: Warren Buffett

Living and working in Omaha, Nebraska, Buffett was nicknamed the “Oracle or Oracle of Omaha” due to his investment selections. Warren Edward Buffett is an American investor, business tycoon, and philanthropist, who is the chairman and CEO of Berkshire Hathaway.

He is considered one of the most successful investors in the world and has a net worth of US$71.8 billion as of July 2020, making him the fourth-wealthiest person in the world.

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