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Nigeria’s TeamApt secures over $50m pre-series C funding. 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 TeamApt secures over $50m pre-series C funding

A Nigerian fintech startup, TeamApt, has announced securing over $50 million in pre-series C funding to expand into new markets.

The new funding was confirmed in a press release on Thursday by Chief Executive Officer of TeamApt, Tosin Eniolorunda.

Tosin noted that QED Investors and Novastar Ventures co-lead the investment round that also saw participation from Lightrock and BII.

Ripples Nigeria gathered that TeamApt is a financial technology company focused on developing Digital Banking, Business Solutions, and Payments Infrastructure.

The Lekki-based fintech startup was founded in 2015 by Tosin Eniolorunda.

Commenting on the latest funding, Tosin said:

“We always approach our fundraising effort opportunistically and want to make sure the market context, cash needs of the business, and investor profile match our strategic growth views.”

Tech Trivia: What is a new application developed from an existing one called?
A. Bowl
B. Spoon
C. Knife
D. Fork
Answer: see end of post

2. Ghana’s fintech startup, Zeepay closes $10m from Verdant Capital

A Ghanaian fintech startup, Zeepay, has closed $10m in additional debt funding from South Africa’s Verdant Capital.

Read also:Egypt’s marketing startup, Convertedin, secures $3m seed round. 2 other stories and a trivia

Godfried Boakye, CFO of Zeepay, confirmed the latest funding in a media statement on Thursday.

Ripples Nigeria earlier reported last year that Zeepay had secured a US$7.9 million Series A funding round to help it drive expansion.

The startup, according to local media, is focused on digital rails to connect digital assets such as mobile money wallets, cards, ATMs, bank accounts, and digital tokens to international money transfer operators.

Boakye, on the raiser and intent, said:

“The raise had become mission critical as we expand our service offering and African expansion.”

3. SodaWorld banks initial global investment from Swiss VC

SodaWorld, a South African entertainment platform, has banked a venture capital funding from Switzerland-based VC.

Olaf Hannemann, chief investment officer and co-founder of the venture capital firm, on Thursday, confirmed the new funding in a press release.

Billed as Africa’s first and only metaverse venue, SodaWorld is a unique African-developed technology platform that enables artists to generate revenue from the Metaverse.

SodaWorld said that its platform will make it possible for guests in Johannesburg to enjoy live music and performances through a live-stream to the event at Venice Biennale.

“We invest in startups who demonstrate a capability to transform the way the world interacts and transacts using blockchain technology,” Olaf explained.

SodaWorld was founded by long-time technology and creative industry innovator Mic Balkind during the lockdown in 2020.

Trivia Answer: Fork

In software development, a fork is a new application developed from an existing one.

When an application is “forked,” it creates a new, separate program, rather than a new development branch.

Open-source project forks are more common than proprietary software forks, but both are possible.

By Kayode Hamsat

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