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Nigerian startup, Anchor, to expand workforce with over $1m fund. 2 other stories 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. Nigerian startup, Anchor, to expand workforce with over $1M fund

A Nigerian Y Combinator-backed startup, Anchor, is set to invest over $1M to scale its banking-as-a-service platform and expand its workforce.

The seven-month old startup confirmed the new development in a media statement on Monday.

Ripples Nigeria gathered that Anchor is the first banking-as-a-service platform from Africa to be accepted into Y Combinator’s summer batch this year.

Co-founder and CEO, Segun Adeyemi, said that the startup provides APIs, dashboards, and tools that help developers embed and build banking products such as bank accounts, funds transfers, savings products, issuing cards, and offering loans.

Adeyemi cofounded the startup with Olamide Sobowale and Gbekeloluwa Olufotebi.

Commenting on the startup’s plan, Adeyemi stated:

“We strongly believe that the way is not just by latching banking-as-a-service on a payments platform, but there has to be proper banking as a service platform built with the right infrastructure and go-to-market strategy.”

He explained that investors backing the BaaS fintech company include Byld Ventures, Y Combinator, Luno Expeditions, Niche Capital, Mountain Peak Capital, and angel investors such as SeamlessHR CEO Emmanuel Okeleji.

Tech Trivia: Which phrase is synonymous with “raw data?”
A. Binary data
B. Plain text data
C. Unprocessed data
D. Unorganized data
Answer: see end of post

2. Egypt’s e-commerce SaaS startup, Zeew, secures $630k fund

An Egyptian e-commerce SaaS startup, Zeew, has on Monday announced securing a $630k fund from Plug and Play Ventures, Poland Prize, and angel investors.

Read also:Cameroonian startup, Taaply, closes $500k from US investors

The new funding was confirmed by Mohamed Ghaith, the Founder, and CEO in a press release.

The company, founded in Estonia, claims to be a white-label SaaS provider for on-demand delivery.

Amr AbdElhady, Denis Kaibagarov, and Mohamed co-founded the startup in 2017.

“We had built a great technology out of our needs and we decided to offer it to the public as a one-time payment at the beginning but soon we realized how hard it was to maintain many clients on the separate codebase and we moved to SaaS and since then we have grown to 100+ countries,” Ghaith commented.

He explained that the funding will be used to grow Zeew’s team and expand the customer base in new markets.

3. Meta, e-commerce venture, Jio, launch grocery shopping on WhatsApp in India

American multinational technology conglomerate, Meta, has announced a partnership with India’s e-commerce venture, Jio, to launch grocery shopping on WhatsApp in India

Mark Zuckerberg, CEO of Meta, made the disclosure in a statement seen by Ripples Nigeria on Monday.

The recent launch follows closely on Meta and JioMart’s initial test of integration with selected users two years ago.

Zuckerberg claimed that the launch is the global-first end-to-end shopping experience on the popular instant messaging platform.

“Excited to launch our partnership with JioMart in India. This is our first-ever end-to-end shopping experience on WhatsApp — people can now buy groceries from JioMart right in a chat.

“Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come,” said Zuckerberg.

Ripples Nigeria understands that the owner of Facebook, Instagram, and WhatsApp, among other products and services, is a significant minority investor in Jio Platforms.

Trivia Answer: Raw Data

Raw data is unprocessed computer data. This information may be stored in a file, or may just be a collection of numbers and characters stored somewhere on the computer’s hard disk.

By Kayode Hamsat

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