This line-up of stories will help you discover the latest happenings around the tech world, today.
Nigerian agritech startup, Crop2Cash, has, on Wednesday, announced joining Catalyst Fund’s ninth Inclusive Fintech cohort to access a global network of investors and corporate partners.
Crop2Cash unlocks affordable financing for smallholder farmers, providing digital finance solutions along the agriculture value chain.
The Nigerian startup joined the accelerator alongside two other African fintech startups from Kenya (Kazi) and SouthAfrica (HealthDart).
The global inclusive tech accelerator is an initiative of Catalyst Fund to support inclusive fintech innovators and facilitates the growth of innovation ecosystems in emerging markets.
Today, the Inclusive Fintech programme provides startups with catalytic grant capital, bespoke venture building support from emerging markets and fintech experts and access to a global network of investors and corporate partners.
Nigeria’s Cash2Crop is said to have gained access into the accelerator for being a startup building solutions designed to improve the resilience of underserved customers and communities.
The accelerator is supported by the UK Foreign, Commonwealth and Development Office (FCDO), JPMorgan Chase & Co., and latest partner PayPal, and fiscally sponsored by Rockefeller Philanthropy Advisors.
Tech Trivia: Before being known as PayPal, the company went by what name?
B. The X-Change
Answer: See end of post
South Africa-based agri-tech startup Khula! has raised a ZAR20 million (US$1.4 million) seed funding round.
The startup made the announcement, on Wednesday, during the launch of its new app.
Khula! has been in an intensive pilot stage over the last 3 years, building an ecosystem of three platforms aimed at making the agricultural value chain more efficient.
The Khula! Fresh Produce Marketplace allows farmers sell produce directly to formal market bulk buyers.
On the other hand, however, Khula! Funder Dashboard connects institutional investors with farmers who meet their funding mandates.
Recently integrated, the just-released Khula! Inputs App allows farmers to access approved agricultural inputs and services from leading suppliers.
According to local authorities, the startup is self-funded by founders Karidas Tshintsholo, Matthew Piper and Jackson Dyora for most of its pilot.
The closed seed round worth ZAR20 Million (US$1.4 million) was led by AECI, featuring E-Squared Investments.
Wapi Pay, a Kenyan fintech startup Wapi Pay, secured a US$2.2 million pre-seed funding round.
According to the fintech player, the fund will help it engage regulators for licensing across Africa, and drive higher and sustained growth.
Wapi Pay was founded in 2019, to deliver platform-to-platform integrations, global accounts and virtual wallets that will offer its partners and customers convenient global payments and financial products.
The US$2.2 million in pre-seed funding was led by EchoVC and China-based global fund MSA Capital, and saw the participation of Kepple Africa Ventures and current angel investors.
Speaking on the funding and startup prospect, Eddie Ndichu, co-founder at Wapi Pay, noted that the company will invest into diversifying its products while ensuring it drives growth.
He said: “These funds will help Wapi Pay diversify its product range and drive growth so that we can evolve remittances into real-time global cross-border payments, starting with Africa and Asia.
“All while minimising the cost of transactions, it needs to be as easy as sending M-PESA.”
Tech Trivia Answer: Confinity
Founded in December 1998 by Max Levchin, Peter Thiel and Luke Nosek, the payment platform that would later become PayPal began as a Palm Pilot cryptography company called Confinity, which was named after a combination of the words “confidence” and “infinity.”
By 2000, Confinity merged with X.com, an online bank started by Elon Musk in 1999, and the fusion of these two companies became PayPal as we know it today.
Join the conversation
SPECIAL REPORT: Displaced residents of Zamfara battle hunger, as underfunding derails Nigeria’s nutrition goals
On paper, Muhammad Zayyanu is seven years old. The quiet boy who looks shorter for his age could not recollect...
INVESTIGATION: N7.3bn paid for unnamed projects; how Nigerian govt spent N2.2trn in six months
Analysing nearly 3,000 payments made by various Federal Government Ministries, Departments and Agencies (MDAs) over the previous six months (January...
INVESTIGATION… Delay rocks Nigerian govt’s promise of N30,000 covid-19 relief for artisans, others
Before the outbreak of the COVID-19 pandemic in February, 2020, Chukwudi Okoroigwe’s daily earnings as a bus driver was hardly enough to cater to the...
INVESTIGATION… Ten years after, communities count losses as AfDB, Cross River govt abandon road project
Ten years after the Cross River State government and African Development Bank (AFDB) jointly awarded the Yahe-Wanokom-Wanikade-Benue border road for...
INVESTIGATION….N.3bn down the drain: Why water projects for Enugu communities don’t work
In this concluding part, ARINZE CHIJIOKE talks about some of the projects that are serving the people and how various WASH programmes have failed to tackle...