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Nigeria’s Sudo Africa closes $3.7M pre-seed. 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 Sudo Africa closes $3.7M pre-seed

Nigeria-based fintech startup, Sudo Africa, has raised $3.7 million in pre-seed funding.

The funding round was led by San Francisco-based Global Founders Capital (GFC).

The startup provides a card-issuing API for developers and businesses in Nigeria.

Other investors who participated in the round include Picus Capital, LoftyInc Capital, Rallycap Ventures, Kepple Africa, Berrywood Capital, ZedCrest and Suya Ventures.

Commenting on the development, the startup noted that the round equally saw the participation of Several African fintech founders including Olugbenga ‘GB’ Agboola, Ham Serunjogi and Odun Eweniyi.

Tech Trivia: A flatbed is a type of what?
A Laptop
B Keyboard
C Printer
D Scanner
Answer: See end of post

2. Fraud prevention platform, nSure.ai, secures $18M Series A

Advanced fraud prevention platform, nSure.ai, has secured an $18M Series A funding led by MoreTech Ventures.

READ ALSO: Canadian fintech startup, Periculum, launches in Nigeria. 2 other things and a trivia

This was contained in a statement forwarded to Ripples Nigeria.

According to the fraud prevention startup, the fund is expected to help it revolutionize business in the virtual economy.

nSure.ai was founded in 2013 to protect sellers of digital goods, focusing on high-risk domains, such as prepaid, gift cards, crypto, and gaming.

Other investors who participated in the round include DisruptiveAI, Gryffin Ventures, and Moneta Seeds.

Commenting on the development, Alex Zeltcer, Co-founder and CEO of nSure.ai, explained that the new generation venture required advanced fraud protection to avert chances.

“FinTech companies powering wallets and crypto-based services offer an immediate transfer of funds, creating a huge incentive for sophisticated fraudsters and scalable fraud patterns,” he said.

“Standard, e-commerce based fraud prevention platforms are ill-equipped to deal with this new market. Merchant-specific AI models, along with real-time anomaly detection, such as the ones we offer, help these new generation companies on their growth without taking excessive risk,” he explained.

3. Community management platform, Milango, acquires Circle

Egypt-based community management startup, Milango, has acquired Egyptian prop-tech startup, Circle.

The development comes as the startup seeks to increase its client base with an additional 100,000 users.

Circle was founded by Nancy Kamal and Essam Maged in 2020, to enable real estate developers as well as property owners to connect easily to tenants.

According to local media, Milango will leverage the acquisition to accelerate its growth in the community management category.

Speaking on the development, Amr Mostafa, Milango’s CEO, expressed his excitement as the startup looks to maximise the acquisition to improve its bottom line.

“I’m very proud of the work Milango’s team has done over the past 18 months,” he said.

“We have managed to exceed our initial usage expectations and established an engaged user base that are nearing EGP100 million in financial transactions with strong projected growth on that front for 2022. We are confident that with the acquisition of Circle and the addition of their premium clients to our portfolio, we are on the right track to bring #ASmarterLife to all communities,” he added.

Trivia Answer: Scanner

A scanner is an input device that scans documents such as photographs and pages of text. When a document is scanned, it is converted into a digital format. This creates an electronic version of the document that can be viewed and edited on a computer.

Most scanners are flatbed devices, which means they have a flat scanning surface. This is ideal for photographs, magazines, and various documents. Most flatbed scanners have a cover that lifts up so that books and other bulky objects can also be scanned.

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