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Nigeria’s fintech startup, Kwaba, raises pre-seed funding. 1 other story and a trivia



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

1. Nigeria’s fintech startup, Kwaba, raises pre-seed funding round


A Nigerian fintech startup, Kwaba, has raised an undisclosed pre-seed round of funding to help its expansion across Africa.

The founder and Chief Executive Officer of the startup, Obinna Molokwu, confirmed the development in a statement on Friday.

The startup was founded in January 2020, and plays in the real estate and fintech industry.

Ripples Nigeria gathered that Kwaba facilitates home payments for Africans and targets Nigerians looking to pay rent in a way that reflects their financial reality.

Molokwu confirmed that Kwaba raised the undisclosed amount of pre-seed funding from Co-Creation Hub (CcHub) and other investors, having received investment from Ingressive Capital in 2020.

He said:

“Kwaba is helping to bridge the gap between property and finance. We understand the economic reality of Nigerian renters and have built our product to reflect this.

“We aim to improve the financial well-being of renters as we grow. For us, this new investment comes at a time when we are looking to strategically reposition and expand our services.”

Tech Trivia: What part of Windows allows you to modify system settings?

A Task Manager

B Task Bar

C Control Panel

D Start Menu

Answer: see end of post

2. Digital services provider, INQ, acquires South African startup, Syrex

A pan-African digital services provider, INQ, has announced the acquisition of a South African IT solution provider, Syrex, for an undisclosed amount.

The Managing Director of Syrex, David David Herselman, disclosed this on Friday.


READ ALSO: Nigeria’s agtech company, Hello Tractor, secures $1m. 1 other story and a trivia

The acquisition comes on the heels of similar acquisition of Vodacom Business Africa’s operations in Nigeria, Cote d’Ivoire and Zambia in 2020.

The digital provider company was founded in 2013 and operates as a cloud-based digital service firm.

The startup specializes in edge AI, SDN/NFV, cloud-based solutions, and intelligent connectivity.

The acquisition, is however, subject to some customary conditions including approvals by South Africa’s Competition Commission and the Independent Communications Authority.

Herselman said:

“The acquisition will bring two strategically aligned businesses together to deliver their technology and services across the African continent.

“This will bring a combined offering into the African market to deliver the best technologies available. We are very excited that our cross-border clients will benefit from Syrex’s strong hyper-converged solutions and inq.’s edge solutions and services.”

Trivia answer: Control Panel

The Control Panel is a feature of the Windows operating system that allows the user to modify system settings and controls. It includes several small applications, or control panels, that can be used to view and change hardware or software settings.

Some examples of hardware control panels are Display, Keyboard, and Mouse settings. Software control panels include Date and Time, Power Options, Fonts, and Administrative Tools.

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