Nigeria’s fintech startup Mono closes $2m seed funding. 2 other things 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 Mono closes $2m seed funding

Nigerian fintech startup Mono has joined a league of startups that recorded over a million dollar raiser in the month of May, raising a seed funding round of US$2 million to reinforce its current offerings in financial and identity data.

According to the startup, the new raiser will go into the launch of new products as the company seeks to expand its portfolio.

Since its inception in August, 2020, Mono helps digital businesses in Africa access their customers’ financial and identity data.

Today, its plug-and-play technology allows customers like Flutterwave, Carbon and Indicina to access a broad range of high-quality financial data from institutions across Africa through a single API.

Recall that earlier this year, the startup was selected to take part in the Y Combinator accelerator, banking a further US$125,000.

The new raiser was led by Entree Capital, Kuda chief executive officer (CEO) Babs Ogundeyi, Gbenga Oyebode, Ehimare Idiahi, and Lateral Capital.

Tech Trivia: Which personal computer takes its name from a fruit type?

A. Lenovo
B. MacBook Pro
C. Toshiba
D. Acer

Answer: See end of post.

2. Impacc seeks to invest $150k in African social businesses

Impacc, a Germany-based non-profit organisation, is seeking to provide smart equity investment of between US$30,000 and US$150,000 in African social enterprises.

According to the investors, the initiative looks to invest in social businesses with sustainable, high impact solutions to social, economic and environmental challenges affecting base of pyramid communities in Africa.

Analyst familiar with the organisation noted acknowledged that it builds and scales social businesses where markets are not structured, targeting impoverished communities in Africa.

For this, it teams up with local founders that have the potential to create local, green jobs, often with a franchise approach.

Impacc chief executive officer (CEO) Till Wahnbaeck explained that the move to invest in social startups is aimed at transforming the local ecosystem by leveraging on the disruptive power of innovative local products and services as a driver for inclusive and sustainable growth.

He said: “We use the tools of business to meet social challenges.

“We identify local green businesses that have already had first proof of concept and help them grow by scaling their business through a franchise system into other regions and countries.”

READ ALSO: AlphaCode awards R2-m to support Fintech startups. 2 other things and a trivia

3. Gaming accelerator, CrazyLabs, launches in Cape Town

CrazyLabs has announced launching an accelerator programme in Cape Town.

The new accelerator, which comes in partnership with mobile gaming platform Carry1st aims to promote African game development.

CrazyLabs VP of Business Development, Omri Henkin attested to the great potential of Africans and Africa.

He said: “The African continent is latent with potential for great ideas to be transformed into world-class gaming experiences.”

According to media reports, the accelerator is the first time CrazyLabs will be hosting a hub on the African continent.

Eleven year old CrazyLabs offers a wide selection of casual and hyper-casual mobile games with over 4 billion downloads to date.

Tech Trivia Answer: MacBook Pro

The MacBook Pro is a line of Macintosh portable computers introduced in January 2006 as part of a family of personal computers designed, manufactured, and sold by Apple Inc.

Originally, the name “Macintosh” was inspired by an apple fruit type with the name “McIntosh”. Botanists say that the McIntosh, McIntosh Red, or colloquially the Mac is an apple cultivar, which is the national apple of Canada. The fruit has red and green skin, a tart flavour, and tender white flesh, which ripens in late September.

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