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Nigeria’s Trade Lenda secures $520m pre-seed round. 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 Trade Lenda secures $520m pre-seed round

Nigerian fintech startup, Trade Lenda, has secured $520,000 in pre-seed funding to accelerate its growth.

Adeshina Adewumi, CEO of Trade Lenda, confirmed the funding in a media release on Tuesday.

The Lagos-based startup claims it helps micro, small, and informal retailers access financing for their business needs.

Trade Lenda was launched in 2021 by Adeshina Adewumi, Oluwatosin Ayodele, and Shina Arogundade.

“This is one of the things that drives us, knowing fully well that we can support today with our collective experience of millions of women like my mum who would go on to support their families at home,” said Adewumi

Ripples Nigeria gathered that the funding came from Africa-focused investors, including Sovereign Capital, ARM Labs, and Expert Dojo, as well as a couple of Nigeria-based angel investors.

Tech Trivia: Which technology allows a computer to load an operating system over a network?
D. PS/2
Answer: see end of post

2. Retail investors set to boost GetEquity with $100k funding

GetEquity has announced raising $100,000 from retail investors on its platform at a $10 million valuation.

Read also:Lagos-based startup, Taeillo, secures $2.5M funding. 2 other stories and a trivia

Jude Dike, CEO and cofounder, GetEquity, disclosed this in a statement seen by Ripples Nigeria on Tuesday.

The new funding comes nearly about a year after closing a six-figure pre-seed round sponsored by GreenHouse Capital.

GetEquity claims it provides a digital platform democratizing access to venture capital.

The Nigeria-based VC crowdfunding platform was founded in 2021 by Jude Dike, William Okafor, and Temitope Ekundayo.

“GetEquity is challenging the status quo of startup financing and venture capital. We are democratizing access to startup funding and thereby expanding the pie for previously underfunded and underserved startups,” Dike said.

With intentions to grow to Egypt, South Africa, and Dubai, the organization has been operating since its founding in seven nations: Nigeria, the US, the UK, Kenya, Rwanda, Tanzania, and Uganda.

3. Russia slaps Amazon’s Twitch with $57,000 fine over Ukraine content

A Russian court has fined Amazon’s Twitch 4 million roubles ($57,000) over Ukraine content.

This was contained in a statement from a Russian spokesperson on Wednesday.

Russia claimed it fined Twitch for failing to remove what it said were “fakes” about Russia’s military campaign in Ukraine.

Founded in 2011, the Amazon subsidiary company claims to focus on video game live streaming, including broadcasts of esports competitions.

The development has not come surprising as Russian courts frequently impose sanctions due to Moscow’s longstanding objections to distributing content that violates its regulations by foreign digital platforms.

Trivia Answer:PXE

It stands for “Preboot Execution Environment” and is typically pronounced, “pixie.” PXE is a set of standards to load an operating system over a network.

Network administrators can load or reset system software via a network connection rather than physical media, such as a USB drive or DVD.

By Kayode Hamsat

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