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Nigeria’s ComiBlock launches crypto investment robo-advisor. 1 other thing and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Nigeria’s ComiBlock launches crypto investment robo-advisor

ComiBlock, a Nigerian startup, has launched its venture as a crypto robo-advisor.

The initiative gives users access to planning tools, advice, curated and thematic crypto-portfolios.

Speaking on the startup’s vision, founder, Dennis Ejimnkeonye noted that the startup uses technology to help its users become better crypto investors.

Dennis said: “We measure progress by helping our users achieve specific life goals, rather than generating the highest possible portfolio return or beating the market.

“We also do things like automatic rebalancing and crypto tax-loss harvesting, services that were only available to the ultra-rich until now.

“We believe that as cryptocurrency matures as an asset class, a purpose-built financial ecosystem is needed, mirroring the traditional equity and fiat investment markets. The gap we saw was a fundamental and neglected opportunity.”

“We have built a solid five-month track record, generating more than 210 per cent net return since inception, without experiencing a single down month even during the market crashes.”

Tech Trivia: Which of the following is not among the first 5 tech giants
A. Samsung
B. Apple
C. Facebook
D. Microsoft
Answer: See end of post

2. Nigerian fintech startup Awabah raises $200k

Awabah, a Nigerian fintech startup, has announced raising a US$200,000 in angel funding.

READ ALSO: LATEST TECH NEWS: AlphaCode Incubate programme selects 10 SA fintech startups. 2 other things and a trivia you need to know today, February 2, 2021

The raiser comes as the startup joins the Techstars London accelerator programme, securing another US$120,000.

The startup was founded in 2020 by Tunji Andrews, Tina Ajishebiyawo, and Gboyega Olatunde.

The startup operates as a digital platform providing pension access to Africa’s self-employed.

According to local sources, the startup is dedicated to making micro-pension services available to those in the informal sector and those whose employers are not legally required to deduct and remit pensions.

Today, the startup has signed up over 700 clients with raisers from early-stage investors including ODBA and Co Ventures and Correlation Capital.

Speaking on the development, Tunji describes the startup as an aggregator for wealth creation.

He said: “Awabah in simple terms is an aggregator of wealth creation tools that are sorely lacking on the continent.

“We onboard the financial service providers, break their products into bite size chunks, sprinkle a bit of the Awabah magic on it, and give this leverage to our customers.

“What’s even greater is that our services come completely at no charge to the customer. Financial services should liberate, not enslave.”

Tech Trivia Answer: Samsung

Big Tech also known as the Tech Giants, Big Five or S&P 5 are the largest and most dominant companies in the information technology industry namely Amazon, Apple, Facebook, Google, and Microsoft.

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