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Nigeria’s Lemonade Finance rebrands as LemFi. 2 other stories and a trivia



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


1. Nigeria’s Lemonade Finance rebrands as LemFi

A Nigerian fintech startup, Lemonade Finance, has rebranded its name to LemFi, as it looks to simplify and capture the essence of the company’s vision.

The company, in a press release on Wednesday, May 31, 2023, noted that the decision was reached as it sought to differentiate itself in the evolving financial services landscape.

The startup was founded in 2020 to empower immigrants seeking to achieve financial freedom in their lives.

Ripples Nigeria gathered that the company delivers services through an app that enables users to send money to more than 10 countries.

“The name we started with was Lemonade Finance. And as our app gained popularity, our reach expanded across multiple countries, and we became the vital link between families and loved ones separated by distance,” said Ridwan Olalere, the startup’s CEO and co-founder.

“Our new name, LemFi, represents our unwavering dedication to breaking down barriers and transcending borders,” said Olalere.

TECH TRIVIA: When something occurs live, it is said to happen in what?

A. Livetime
B. Realtime
C. Microtime
D. Millitime

Answer: see end of pos


2. Uganda’s Zofi Cash closes $1m pre-seed funding

A Ugandan fintech startup, Zofi Cash, has closed a US$1 million in pre-seed funding to double down on its commitment to ensuring that every day is a payday for salaried workers.

The instant salary advance platform made the announcement on Wednesday, May 31, 2023.

According to the startup, its service offers employees early access to wages, ensuring that people have the financial resources they need to take care of immediate needs without waiting until the end of the month.

The startup’s US$1 million pre-seed funding round was led by a single investor in Advancly, a business-to-business financing company with a presence in six African countries.

The company has invested in several African fintech startups, including Kenyan ventures LipaLater, MarketForce, and Pezesha with Zofi Cash being its first foray into the Ugandan market.

“We believe that for people and businesses to experience progress, the flow of money needs to be innovated continually,” said Lotanna Julian, co-founder and CEO of Advancly.

3. DataPathology secures $1m seed round with AZUR Fund

An African healthtech start-up specialising in digital pathology, DataPathology, has secured its second seed round of funding.

The round, according to the startup, was led by AZUR Fund.

DataPathology’s first raiser of $223 000 was secured from Witamax over a year ago.

Founded by Dr Hicham El Attar, a prominent anatomopathology professor from Morocco, and data and IT expert Mohammed El Khannoussi, the company is committed to revolutionising pathology diagnosis and improving the quality of service provided to practitioners and patients in medically underserved areas.

DataPathology aims to serve multidisciplinary clinics and pathology centres that face the dual challenge of increasing cancer cases and limited access to medical facilities.

Trivia Answer: Real-Time

When an event or function is processed instantaneously, it is said to occur in real-time. To say something takes place in real-time is the same as saying it is happening “live” or “on-the-fly.”

For example, the graphics in a 3D action game are rendered in real-time by the computer’s video card.

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