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Nigeria’s fintech startup, Nomba, secures $30M pre-Series B. 2 other stories 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 fintech startup, Nomba, secures $30M pre-Series B  

Nigerian Fintech startup, Nomba, which was formerly doing business as Kudi, has announced raising a fresh US$30 million pre-Series B funding round.

The round, which is expected to “support the delivery of bespoke payment solutions for African businesses,” was announced in a press statement seen by Ripples Nigeria on Wednesday.

Ripples Nigeria gathered that that the startup was co-founded by Yinka Adewale and Pelumi Aboluwarin in 2017.

Six years later, the startup claims to have evolved into a profitable, omnichannel payment service provider. 

According to the startup, the new equity funding round was led by San Francisco-based Base10 Partners, with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.

Speaking on the essence of the fund, Nomba noted that it “will use the investment to deliver payment solutions that have been designed for the specific services that businesses provide. 

In addition, it will enable businesses plug gaps in their payment processes, while upscaling its services to operate more efficiently and deliver excellent customer experiences. 

“We see payment as a business model, not just a product and we want to make it easier for businesses to take advantage of all that is possible in their payment processes to support their continued growth and success,” Adewale said.

“We have a long list of products we have been working on and the funds we have raised as well as the investors that have backed us gives us a lot of confidence about what can be achieved with more effective payment solutions in the hands of business owners.”

 

Tech Trivia: Individual letters, numbers, and symbols are also called what?

1.Characters
2.Strings
3.Pixels
4.Bits

Answer: see end of post

  1. Global Cleantech Innovation Programme opens application in Nigeria  

A programme designed to support cleantech innovation and entrepreneurship in emerging and developing economies, Global Cleantech Innovation Programme, has opened application for its latest programme in Nigeria.

The organization made the call for applications in a statement on Wednesday, explaining that it offers to support individuals who are passionate about clean technologies.

According to the statement, the programme will give priority to individuals with ideas tackling climate change and making a positive impact to reduce global warming.

Read Also: Russia to use ‘Evil Crypto’ in foreign trade. 2 other stories and a trivia

Ripples Nigeria gathered that the Global Cleantech Innovation Programme (GCIP) Nigeria accelerates the development of small and medium-sized enterprises (SMEs) looking to deploy cutting-edge cleantech products and services in developing economies. 

The programme is, therefore, expected to focus on Nigerian cleantech startups and SMEs working on exciting and disruptive solutions in key areas such as energy efficiency, renewable energy, waste beneficiation, green buildings, transportation, and advanced materials and chemicals.

 

  1. Nigeria’s Treepz relaunches app as  Africa’s Largest Car-Sharing Marketplace 

Nigeria’s mobility company, Treepz, has re-launched its consumer facing app as a new offering for the African market.

The marketplace, according to the startup, in a statement, will allow car owners to rent out their vehicles for short to long-term periods, as well as providing a more affordable and sustainable option for mobility in Africa.

The startup noted that the launch was inspired by the growth in the industry as over 600 million Africans have been estimated to be living in urban areas with less than 44 cars per 1,000 people.

Treepz’s car-sharing platform claims it is looking to address the growing need by allowing people to rent a car only when they need it and for flexible rental periods. 

Analysts noted that the new arrangement will help reduce traffic congestion and carbon emissions, leading to a more sustainable transportation system.

However, there are concerns if the Treepz solution is sustainable and something the “shrinking” economies in Africa can accommodate.

Trivia Answer: Character

A character is any letter, number, space, punctuation mark, or symbol typed or entered on a computer. Some invisible characters are not represented on screen but are still present to modify or format text, like a tab or carriage return.

When using the ASCII character set, a single character takes up one byte of storage space. For example, the phrase “Good afternoon!” is 15 characters and would take up 15 bytes of storage.

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