Connect with us


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



Identitypass, Nexi, Activant Capital, Kaltani, Mylerz, Jambo. These are some of the names that made the headlines this week.

Nigeria-based clean-tech and plastic waste recycling company, Kaltani, has closed a US$4 million seed funding.

Also, a Cairo-based e-commerce fulfilment startup, Mylerz, has secured a $9.6 million funding with plans to expand footprints across Africa.

Let’s get into details.

During the week, Lagos-based digital security platform, Identitypass, announced raising a $2.8 million seed funding to increase its current facilities and expand into new African countries.

The co-founder and CEO, Lanre Ogungbe, confirmed the latest raiser in a statement on Thursday.

Ripples Nigeria gathered that the seed funding was led by MaC Venture Capital and saw participation from Y Combinator, Soma Capital, True Capital Fund, and Sherwani Capital.

Another story we tracked during the week is that of Nexi, a Milan-based fintech giant.

The startup completed the full acquisition of German startup, Orderbird, in an undisclosed deal as confirmed by Orderbird’s Chief Executive Officer, Mark Schoen.

Ripples Nigeria reported that the latest acquisition followed the acquisition of Danish-based rival, Nets.

In the US, growth equity firm, Activant Capital, announced opening a new office in Cape Town to expand its footprint in Africa.

The development was confirmed by the startup’s founder and general partner, Steve Sarracino, on Thursday.

Read also :Nigeria’s fintech startup, Kwaba, raises pre-seed funding. 1 other story and a trivia

According to the global investment firm, the new office will be headed by Research Director Robert Lamprecht, alongside with JJ Brink and Jonathan Vickery, who are both South African natives.

Back home, Nigeria-based clean-tech and plastic waste recycling company, Kaltani, closed a US$4 million seed funding.

The Cofounder, Obi Charles Nnanna, who confirmed the development in a statement on Wednesday, noted that the new investment will help the startup expand its recycling operations across the country.

With an ambition to solve Africa’s growing plastic waste crisis, the startup has a team of 100 staff spread across its collection centres, recycling factory and offices, responsible for collecting bottles and other plastic waste to be recycled.

Far in Egypt, Cairo-based e-commerce fulfilment startup, Mylerz, secured a $9.6 million funding with plans to expand footprints across Africa.

The startup Founder and CEO, Samer Gharaibeh, disclosed this on Wednesday in a statement seen by Ripples Nigeria.

Led by Lorax Capital Partners, an Egypt-based private equity, the round saw participation from Fawry, a fintech market leader in Egypt.

Away in Congo, cryptocurrency startup Jambo nabs a $30M Series A funding led by Paradigm with the hope to ‘become the super app of Africa’.

Our correspondent Hamsat Kayode reported that the startup confirmed the latest development in a tweet via its Twitter handle @Jambo.

The Series A funding round saw participation from other investors including ParaFi Capital, Pantera Capital, Delphi Ventures, Kingsway Capital, and Gemini Frontier Fund

Again, in Egypt, a Cairo-based fintech startup, Paymob, announced securing a $50 million Series B funding.

The Co-Founder and Chief Executive Officer, Islam Shawky, disclosed this in a statement on Monday.

According to Shawky, the round was led by PayPal Ventures, the global corporate venture arm of PayPal; New-York-based venture capital Kora Capital; and London-based Clay Point.

Top financial service provider and a fintech unicorn, Opay, was on Monday announced winner of the Bronze Stevie® Award in the “Product and Service Innovation Award” category.

The latest award was confirmed by officials of the Steve Award as published on the official website.

Ripples Nigeria gathered that the award saw the nomination of persons as Gold, Silver, and Bronze receivers of the Stevie® Awards in The 2022 American Business Awards®.

Other winners for the edition include Cisco, Shell, UOB, and other companies.

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.

Donate Now