Meet the African unicorns revolutionizing the continent’s economy

Africa has witnessed the emergence of several remarkable unicorns in recent years, each possessing the potential to revolutionize the continent’s economy. Among these unicorns are Flutterwave, a leading digital payment firm that is reshaping transactional processes both locally and globally, and Maser, a startup democratizing access to smart TVs and healthcare wearables across African households. Flutterwave, Africa’s fastest-growing unicorn startup, has achieved a staggering $3 billion valuation and has become a driving force in the world of digital payments.

With an impressive track record of processing over 200 million transactions worth more than USD $16 billion across 34 African countries, Flutterwave has cemented its position as a market leader. Today, the company serves over 900,000 businesses worldwide, highlighting its market influence and reach.Under the visionary leadership of Olugbenga ‘GB’ Agboola, Flutterwave is poised to become the dominant payments infrastructure provider across Africa. Agboola and his team have already invested millions of dollars in digitizing African payment infrastructure, which will undoubtedly lead to significant success. By fine-tuning their payment platforms and leveraging the vast amount of data at their disposal, Flutterwave aims to unlock the potential for new digital services and solutions with seamless interoperability.Joining the prestigious unicorn league, Maser has emerged as a groundbreaking startup focused on affordable consumer electronics, particularly smart TVs and healthcare wearables.

In 2022, Maser achieved a significant milestone by raising $500 million in hybrid equity capital, resulting in a post-money valuation exceeding $1 billion. The company’s innovative devices have provided thousands of previously underserved African customers with access to affordable electronic services.Prateek Suri, the driving force behind Maser, is determined to shape the future of manufacturing and digital entertainment. Suri and his team are diligently working to integrate Web3 features, such as NFT marketplaces and metaverse platform integrations, into their internet-connected “smart” TVs. This strategic move positions Maser’s products to captivate tech-savvy African consumers and global audiences alike. Additionally, Suri aims to leverage Maser’s position as a value exchange between audiences and advertisers, tapping into the burgeoning streaming industry and introducing captivating advertising formats.While Agboola and Suri have distinctive focuses, their pursuits converge in terms of driving innovation and expanding their respective markets.

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Both CEOs and founders plan to utilize their capital to acquire more customers, explore new markets, and develop impressive platforms and devices. Expanding their presence across Africa and other parts of the world, they anticipate the creation of new value streams through mergers and acquisitions.These unicorn statuses grant Flutterwave and Maser the opportunity to pursue customer acquisition in new markets, facilitate growth through strategic partnerships, and continue developing innovative products and services.

Observing the journeys of both CEOs will undoubtedly be a delight, as they shape the future of their industries.Flutterwave, with its relentless commitment to addressing Africa’s broken payment infrastructure, has not only allowed Africans to partake in digital prosperity but also serves as a force multiplier for the entire African technology startup ecosystem. Through Flutterwave, millions of Africans can now enjoy the benefits of seamless commerce, creating a ripple effect that propels economic growth across the continent.Meanwhile, Maser is positioned at the forefront of redefining the large-screen experience, blending sight, sound, and motion with the success of streaming services and new advertising formats in Africa. Prateek Suri and his team are pioneering the development of next-generation digital entertainment platforms that promise to captivate audiences and advertisers with immersive and emotionally engaging experiences. As smart TVs evolve into more sophisticated and expansive devices, offering unprecedented digital pleasure, Africa’s payment landscape is undergoing transformative changes.

The emergence of Flutterwave and Maser as African unicorns heralds a new era for the continent’s economy. With their groundbreaking technologies and visionary leadership, these startups are poised to reshape the digital payment and consumer electronics sectors. Flutterwave’s pursuit of becoming Africa’s dominant payments infrastructure provider and Maser’s commitment to transforming the entertainment landscape are catalysts for unprecedented growth and prosperity. Africa will never be the same again, thanks to the arrival of these two transformative unicorns.

By :Isieza Elijah

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