Business
TechNigeria: A weekly digest of what went down in Nigeria’s tech space
With news on products launch and startup expansion taking over the tech landscape this week, the country is, perhaps, on a ride to technological transformation.
Today, Nigerian crypto app, Bundle, launched operations in Ghana, increasing its users’ reach as it looks to expand its portfolio.
QuickBus, a Kenyan mobility startup, on the other hand, has announced its intention to launch into Nigeria as part of the ambitious expansion plan.
Below is a digest for the week, highlighting the major tech build-up.
From Nigeria to Ghana
After recording considerable success in Nigeria, Bundle has launched operations in Ghana in a bid to expand its portfolio into several other African countries.
With this development, Bundle joined the class of a few Nigerian products launched within a year and scaling the heights.
It was launched during the first wave of the COVID-19 pandemic in April, allowing users to request, send, and receive cash or crypto from their peers.
From Kenya to Nigeria
Unlike Bundle, which took its inventory from Nigeria to Ghana, QuickBus, a Kenyan mobility startup, is moving in the opposite direction with its decision to launch a venture in Nigeria amongst other countries of interest in West Africa.
The development followed the impressive growth QuickBus recorded in the five markets where it is currently operating.
Its entry to Nigeria will add to its list of existing markets including Uganda, South Africa, Angola, and Zambia.
Analysts say this international market encroachment will facilitate business growth within Africa in no time.
READ ALSO: TechNigeria: A weekly digest of what went down in Nigeria’s tech space
The $300k fund raiser
After helping Nigeria to secure an additional $300,000 capital, recruitment startup TalentQL closed the funding raising initiative during the week. Yusuf Adewale’s talent outsourcing company claimed that the initiative was led byZedcrest Capital, a Nigerian VC.
Just one month old, the company has recorded a major milestone within a short time. As a talent outfit, it looks to hire, develop, and manage remote talent for global companies. The new company reminds one of Andela.
The $3m fund tip
In a bid to fund African tech startups, Pacer Ventures, a Lagos-based VC firm, during the week signed a partnership agreement with Founder Institute and launched a $3 million fund for early-stage African startups.
This is impressive as it will encourage eligible and interested startups to ready themselves for the tasks of solving some of the most critical problems on the continent.
While this is fast becoming a tradition of Pacer Ventures which has the knack for supporting early-stage founders, the VC has a strategic relationship with the Founder Institute to identify startups. The board has remarked that the fund has an average fund size of $100,000 in addition to non-financial support available to startups.
Like Kenya, like South Africa
Another startup is looking towards Nigeria for business. This time, a car business network with an existing business market in South Africa. ServiceMyCar, the startup, takes up the ambition after a $311,000 seed funding.
Reportedly founded by Athol Quin and his son, Aidan, in January 2019, the startup was launched to the public in August.
With similar business ventures with Cars45 and Cheki, among others, this South African company might be coming to choke the space.
Remarks
These stories and many others made headlines during the week.
Join us next week for another edition of TechNigeria.
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