Tech
PalmHr closes $5m pre-Series A 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. PalmHr closes $5m pre-Series A round
Tech based HR platform, palm.hr, has closed a $5 million pre-Series A round co-led by Speedinvest and RAED Ventures, with participation from Wamda Capital.
Richard Schrems, CEO and Co-founder, palm.hr confirmed the development in a media release on Wednesday.
Richard Schrems, Christoph Czichna, and Dragan Nikolic established palm.hr in 2019.
The company runs as a flexible startup, complying with regional employment laws and local labor laws in various markets.
“With the backing of our investors, we are excited to kick off our next stage of growth and play a role in contributing to the future of the region’s economy,” said Schrems.
With this investment, palm.hr will strengthen its position in Saudi Arabia while extending to Egypt and the United Arab Emirates.
Tech Trivia: Which of the following is an online advertising model based on user actions?
- CPA
- MPA
- PPA
- RPA
Answer: see end of post
2. Global venture capital firm, Partech, closes $263m
Global venture capital firm, Partech, has closed Partech Africa II with €245 million (~$263 million)
Read also:Social commerce startup, Kapu, exits stealth with $8M funding. 2 other stories, and a trivia
This was confirmed by the general partner from the firm’s Dakar office, Tidjane Deme, in a statement on Wednesday.
According to Deme, Partech Africa II is one of three funds that the international venture capital business has introduced in the previous two years, together with a $750 million growth fund and a $100 million seed fund.
These funds are aimed at different regions and industries around the world.
The limited partners in this Partech Africa II fund include DFIs and corporates to African fund of funds, family offices, and HNIs, including anchor investor KfW, the German Development Bank.
Others are existing and new LPs, including Bpifrance Investissement; the International Finance Corporation (IFC); South Suez; FMO; Bertelsmann; European Investment Bank (EIB); British International Investment (BII); Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG); and Proparco.
“Last year, we went out to raise fund two, and we did it in a very different market. Everything has changed; the deal flow in Africa, especially for Series A and B, has been multiplied by 14 over the last five years,” said Deme
Ripples Nigeria gathered that from this new fund, Partech Africa intends to invest in Series A and B businesses in the fields of fintech, health tech, logistics, mobility, and edtech, among others.
3. Morocco’s B2B e-commerce startup, Chari, secures $1m
In a round that was co-led by Orange Ventures, Orange’s venture capital investment arm, Chari, a B2B e-commerce business with embedded finance for the FMCG industry, has secured $1 million.
Grégoire de Padirac, Partner of Orange Ventures Middle East & Africa, confirmed the funding in a release seen by Ripples Nigeria on Wednesday.
The startup claims it provides small businesses with a mobile application that allows them to order all of the products they need at their point of sale with a few clicks and a free delivery commitment in less than 24 hours.
“We look forward to continuing to support the team as it expands into the French-speaking region and the FinTech sector.
“Chari and we believe in the need to digitize local company owners,“ Grégoire de Padirac.
Chari was founded in January 2020 by Ismael Belkhayat and Sophia Alj and Grégoire de Padirac will be joining Chari’s Supervisory Board.
Trivia Answer: CPA
Stands for “Cost Per Action,” and is used in online advertising. CPA defines how much revenue a publisher receives when a user clicks an advertisement on his website and then completes a certain action.
By Kayode Hamsat
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...