Nigeria’s Syarpa secures $500K pre-seed. 1 other thing and a trivia

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

1. Nigeria’s Syarpa secures $500K pre-seed

A Nigeria-based fintech startup, Syarpa, has announced securing a pre-seed funding worth $500K.

The Founder and CEO, Adedapo Sodipo, Thursday confirmed the development in a press statement seen by Ripples Nigeria.

Ripples Nigeria gathered that the pre-seed round was funded by Yolo Investments.

Based in Lekki, the startup claims to offer users the option to perform international transfers with different currencies with an option of using crypto transfer.

According to Adedapo, Syarpa was launched in 2020 to tackle the complication Nigerians face in sending cash to their loved ones abroad.

Speaking on the nature of the business and the challenges the startup is helping to solve, Adedapo said:

“Moving funds or purchasing goods across borders is too complicated.

“People in Nigeria need to convert their local currency or crypto assets, move across platforms, and pay several fees because there is no comprehensive one-step solution.

“Syarpa is built to solve this problem.”

Tech trivia: What language are webpages written in?
A SQL
B XML
C UML
D HTML
Answer: see end of post

Read also: UK’s ecommerce startup, Moot, closes $18M investment

2. Elon Musk secures $675M to build underground highways

Tech leader and Tesla CEO, Elon Musk, through his The Boring Company (TBC), has secured $675M to build underground highways.

The 6 year old American infrastructure and tunnel construction services company, TBC, in a statement, made the announcement on Thursday.

According to the company, the Series C round was led by Vy Capital and Sequoia Capital, and saw participation from Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth.

Ripples Nigeria gathers that the new funding raises TBC’s valuation to $5.7B.

Focused on projects to build underground highways to alleviate traffic congestion, TBC claims to have completed two tunnels in Las Vegas for loop travel since its inception in 2016.

Commenting on the development, the company said:

“In the short term, if each Prufrock-2 mines at 1 mile/week, and TBC produces 1 new Prufrock machine per month, then TBC will be introducing 600 miles/year of capacity,” the company said.

Trivia answer: HTML

Stands for “Hypertext Markup Language.” HTML is the language used to create webpages.

“Hypertext” refers to the hyperlinks that an HTML page may contain.

“Markup language” refers to the way tags are used to define the page layout and elements within the page.

By: Kayode Hamsat

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