Nigeria’s Treepz expands into Kenya. 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 Treepz expands into Kenya.

A Nigeria-founded mobility startup, Treepz, has announced its expansion to Kenya.

The Co-Founder and CEO of Treepz, Onyeka Akumah, disclosed the development in a statement seen by Ripples Nigeria on Thursday.

Treepz’s journey started in Nigeria as Plentywaka in 2019.

The startup was cofounded by Onyeka Akumah (CEO), alongside Johnny Enagwolor (Managing Director), Oluseyi Afolabi (VP of Product Development), and John Shaibu (VP of Customer Engagement).

Running a car-rental service, the startup links renters and owners of vehicles on its marketplace.

It also has a corporate product for businesses and educational institutions where it offers commuting services for their staff or students.

“We are thrilled by the addition of Samar to our team and the launch of Treepz Kenya in Nairobi today. This was made possible with the support we received from our current investors amid a turbulent 2022,” Akumah said in the statement.

Tech Trivia: CDN servers distributed around the globe are called what?
A. Lite servers
B. Thin servers
C. Edge servers
D. Node servers
Answer: see end of post

2. Egypt-based e-commerce platform, Mobile Masr, secures $500K Seed

Egypt-based e-commerce platform, Mobile Masr, has secured a $500K Seed round to scale its operations.

Read also:Jack Ma-backed startup, Releaf, secures additional $3.3m funding. 2 other stories and a trivia

Wael El Ashry, Founder and CEO of MobileMasr, while confirming the funding in a media release on Thursday said that the funding would be used to expand new business categories and verticals.

The e-commerce platform offers a marketplace for used mobile phones and electronics, with a range of payment options and country-wide delivery.

Explaining how his startup works, El Ashry said:

“By designing and developing mobile diagnostics software that checks and reports on the phone, we solved that problem on a commercial level, MobileMasr offers the transparency and security that was lacking in the online used phone space.”

Ripples Nigeria gathered that the seed round witnessed participation from prominent angel investors in the UAE and Qatar in the media and telecom industry in partnership with Intercap Capital Investment Bank.

3. Pan-African focused fintech, Cross Switch, and Equity Invest acquires 50% stake in VPS

A pan-African-focused fintech, Cross Switch, and Equity Invest have announced the acquisition of a 50% stake in Vantage Payment Systems VPS.

VPS, which is a leading Moroccan fintech, provides simple and secure online payment solutions.

Ali Bettahi, CEO of Equity Invest, confirmed the acquisition in a statement on Thursday.

Equity Invest (EI), a technological holding company, which has its headquarters in Morocco, makes investments in companies that are at the forefront of their industries in terms of technology.

“Cross Switch brings us great knowledge of the international fintech space and provides us with very advanced technology.

“We look forward to building on the momentum we have established already and to great successes in bringing more value to our merchants, local and international customers,” said Bettahi.

Ripples Nigeria gathered that Cross Switch and Equity Invest have decades of experience building profitable technology companies, particularly in the financial technology space.

Trivia Answer: Edge Server

An edge server is a computer located at the “edge” of the Internet, serving users in a specific area.

CDNS and edge computing services use edge servers to provide Internet content and computing power as fast as possible.

By Kayode Hamsat

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