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Nigeria’s Pivo closes undisclosed funding from Microtraction. 2 other things 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 Pivo closes undisclosed funding from Microtraction

Pivo, a Nigerian fintech startup, has announced closing a new funding round from early-stage venture capital firm, Microtraction.

Pivo is a credit-focused financial services company for SME players in the supply chain.

Pivo was founded in 2021 by Nkiru Amadi-Emina and Ijeoma Jacquelyn Akwiwu.

Although, the fintech startup did not publish details of the amount raised but said it will help it finance its operations as it looks to scale.

The startup’s service portfolio includes offering SME owners in the supply chain sector a new and more efficient way to access financial services.

Pivo claims that its company’s flagship product, Pivo Capital, allows companies to access working capital loans of up to US$50,000 to help scale their business.

Tech Trivia: How many interrupt requests does typing “hello” send?

A 0
B 1
C 5
D 10
Answer: See end of post

2. Mobile gaming startup, Carry1st, secures $20m from Google, others

Carry1st, a Cape Town-based mobile gaming startup, has secured a US$20 million Series A extension round.

The round, according to the South African startup, comes from investors including Andreessen Horowitz, Avenir and Google, and is expected to fund its expansion across Africa.

READ ALSO: Chinese local lab launches 6G technology transmission. 1 other thing and a trivia

Carry1st is a mobile games publisher serving the first generation of African smartphone users.

The startup was founded in 2018 and based in Cape Town.

The startup, since inception, claims to have reached millions of users across the region.

Games under the belt of the South African startups include Mine Rescue and SpongeBob: Krusty Cook-Off.

3. IFC ScaleX launches to tackle gender financing gap

IFC, a leading financial institution, has launched a new call for applications for IFC ScaleX, a new programme aiming to help tackle the financing gap that women entrepreneurs.

The development comes in partnership with Women Entrepreneurs Finance Initiative (We-Fi).

IFC ScaleX is a performance-based initiative that will award up to US$25,000 to business accelerators that have helped women-led companies in emerging markets raise equity financing.

According to IFC, the goal is to incentivise accelerators to actively help women unlock funding opportunities.

Stephanie von Friedeburg, senior vice president of operations at IFC, lamented the gap observed between men and women in the equity space.

He said: “After acceleration, women raise far less capital than men, other factors being equal.

“We must level the playing field to ensure the best ideas are funded. IFC ScaleX is designed to do this, backing impactful accelerators that are themselves backing women entrepreneurs with great ideas.”

Trivia Answer: 5

An interrupt is a signal sent to the processor that interrupts the current process. It may be generated by a hardware device or a software program.

A hardware interrupt is often created by an input device such as a mouse or keyboard. For example, if you are using a word processor and press a key, the program must process the input immediately. Typing “hello” creates five interrupt requests, which allows the program to display the letters you typed. Similarly, each time you click a mouse button or tap on a touchscreen, you send an interrupt signal to the device.

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