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

The week was majorly characterised by funding rounds as notable Nigerian startups raised capital from various VCs.

Delivery logistics company Kwik raised $1.7 million pre-Series A round while Kuda bank, on the other hand, raised a $25 million Series A.

Also, the week saw the acceptance of a Nigerian startup into a Toronto accelerator programme where Plentywaka, a bus hailing sector player was accepted by the Toronto accelerator Techstar.

Below is a digest for the week, highlighting the major tech build up.

Kwik’s $1.7 million raiser

Kwik Delivery successfully raised its $1.7 million pre-Series A financing round in equity from institutional and high net worth investors.

Launched in 2019, Kwik Delivery is an on-demand, last-mile delivery platform that connects African businesses to independent delivery riders.

Although, the Kwik platform is currently open to ridersoperating in Lagos State, its app is available on iOS and Android.

Kuda’s big raiser of $25 million

Nigeria’s Kuda bank closed $25m Series A round towards growing its venture as the year progresses.

The five years old platform which started as Kudimoney is a full service digital bank.

Recall that Kudimoney, in June 2019, rebranded as Kuda after receiving a banking licence from the Central Bank of Nigeria (CBN).

READ ALSO: Toronto accelerator Techstar accepts Nigerian Plentywaka. 2 other things and a trivia

From Nigeria to Toronto

During the week, Toronto accelerator Techstar accepted Nigerian bus hailing startup Plentywaka into its accelerator programme.

The selection saw the startup securing US$120,000 in the process, setting its sights on global expansion.

Two-year-old Plentywaka was founded by Onyeka Akumah, Johnny Ena, John Shaibu and Afolabi Oluseyi as a bus-hailing solution that allows commuters to book and pay for trips in real-time.

The Flutterwave PayPal deal

Coming rather unexpected, Flutterwave seals a partnership deal with American Fintech PayPal.

The development will see Flutterwave to facilitate the possibilities of receiving and sending of money on PayPal for Africans.

Recall that before now, businesses in some African countries have faced a major challenge trying to receive money from PayPal.

Epos Now’s launch in Nigeria

Fintech startup Epos Now has, during the week, entered Africa, launching its financial services venture in Nigeria.

The move, which was considered as part of its wider internationalisation and growth strategy, will see the firm add to its network of venture markets.

Epos Now is a global software and payments technology company, supporting over 35,000 retail and hospitality locations across 71 countries.

Remarks

These stories, and many others, made headlines during the week. Join us next week for another edition of TechNigeria.

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