TechNigeria: A weekly digest of what went down in Nigeria’s tech space

On the tech scene, the week saw a number of developments, ranging from equity raiser to product launch.

While Opay raised $400m to become the 4th unicorn in Nigeria, ComiBlock launched its venture as a crypto investment robo-advisor.

Also, during the week, ride-hailing companies in Nigeria, after a meeting, agreed to shut down operations in some part of the country.

Let’s discuss.

The ComiBlock’s venture

Nigerian startup, ComiBlock, launched a venture to give users access to planning tools, advice, curated and thematic crypto-portfolios.

The startup was built to use technology in helping its users become better crypto investors.

For ComiBlock, it measures progress by helping users achieve specific life goals, rather than generating the highest possible portfolio return or beating the market.

Awabah raises $200k

Another fintech player, Awabah, raised a US$200,000 in angel funding.

The new raiser comes as the startup joined the Techstars London accelerator programme, securing an extra US$120,000.

Founded in 2020 by Tunji Andrews, Tina Ajishebiyawo, and Gboyega Olatunde, the startup operates as a digital platform providing pension access to Africa’s self-employed.

Suplias seeks to expand venture

After a recent funding round, Nigerian startup Suplias, during the week, announced intent to scale its venture.

Local sources noted that the development comes at the startup targets even quicker growth and international expansion.

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The startup is a B2B marketplace where mom and pop stores in Africa buy inventory from manufacturers using a mobile app.

Plentywaka acquires Ghana’s Stabus

After a $1.2m raiser, Plentywaka, Nigerian mobility startup, acquired Ghanaian mobility startup, Stabus.

Quite impressive for a two year old startup founded by Onyeka Akumah, Johnny Ena, John Shaibu and Afolabi Oluseyi.

Before this acquisition, the startup is a Lagos-based Plentywaka operating as a bus-hailing solution that allows commuters book and pay for trips in real-time.

The big win of the week

Being the lead story for the week, Opay’s raiser cannot be obviously swept under the carpet. And, in fact, cannot be forgotten any time soon.

The Chinese-backed and Africa-focused fintech platform, OPay, on Monday, announced raising fresh $400m, in a funding round led by Japanese Softbank.

The development saw the startup to hit an evaluation of $2B as it becomes Africa’s 5th unicorn.

The news became a major highlight of the week for many reasons, some of which include;
• Opay is only 3 years old.
• The startup only made intent to raiser the fund in May, 2021.
• Opay joined the likes of Flutterwave, Fawry, Jumia and Interswitch.

Remark:

Thank you for joining us this week. That will be all. Take care and stay here for more updates.

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