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Nigeria’s Afriex raises $10m Series A funding. 1 other story 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. Nigeria’s Afriex raises $10M Series A funding.

A Nigerian Fintech startup, Afriex, has raised a $10 million Series A round led by Sequoia Capital China and Dragonfly Capital.

The Co-founder Tope Alabi confirmed the raiser in a statement seen by Ripples Nigeria on Thursday.

Ripples Nigeria gathered that the Series A funding saw participation from Goldentree, Stellar Foundation, and Exceptional Capital, among others.

Launched in 2019, the startup was founded by Tope Alabi and John Obirije.

With headquarters in San Francisco Bay Area, the startup allows users to send and receive money to/from people around the globe.

Commenting on what the raiser would focus on, Alabi said:

“We are building this web3 mesh of financial institutions that could almost become something like the next Visa.”

Tech trivia: Electronic Data Interchange (EDI) is commonly used in what industry?
A Software Development
B E-commerce
C Graphic Design
D Video Production
Answer: see end of post

Read also: America’s Tofino Capital secures $10m to support tech in Africa

2. Female-led startup, Sayna, raises $638K in first seed round

A female-led edtech startup, Sayna, based in Madagascar, has announced raising a €600,000 (estimated at US$638K) as first seed round.

Matina Razafimahefa, SAYNA’s co-founder and CEO, made the announcement in a signed statement on Thursday.

Ripples Nigeria gathered that the funding round was led by Orange Ventures, Orange Group’s multi-stage tech investment fund as well as Launch Africa Ventures, and the Malagasy Investment Club (Club MAIC).

Sayna was founded in 2018 by Matina Razafimahefa, and currently employs roughly forty people in France, Madagascar, and, most currently, the Ivory Coast.

The startup provides an ecosystem that combines a professional training offer for digital professions.

Speaking on the raiser and intent, Razafimahefa said:

“This fundraising represents both a crucial step for the development of SAYNA internationally and a strong symbol for the tech scene in Madagascar.

“Today we are a team of 25 people divided between France & Madagascar.

“It is also a sign of hope for hundreds of thousands of young African talents who have so far not had the opportunity to professionalize to take advantage of the fourth industrial revolution underway on the continent.”

Trivia answer: E-commerce

EDI Stands for “Electronic Data Interchange.” EDI is a standardized method for transferring data between different computer systems or computer networks.

It is commonly used for e-commerce purposes, such as sending orders to warehouses, tracking shipments, and creating invoices.

By: Kayode Hamsat

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