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

AZAPAY, Augmental Technologies, Bizao, Amazon, Algebra Ventures, HerVenture, mx51. These are some of the names that made the headlines this week.

A France-based Bizao fintech start-up, Bizao, secured $8 million in series A funding led by key investors including AfricInvest, Adelie, and Seedstars Africa Ventures.

Also, a women-focused edutech startup, HerVenture, during the week, launched an app to boost entrepreneurial knowledge of female entrepreneurs in Africa.

Let’s get into details.

Our round down kicks off this week with the story of Augmental Technologies, a South Africa-founded healthtech startup.

During the week, the startup made headline after news of it launching an app to support neurodivergent kids in the US.

What you should know: The app was launched to support parents with their child’s attention deficit hyperactivity disorder (ADHD) or autism spectrum disorder (ASD).

Next on the round down is Bizao, a France-based fintech start-up.

During the week, Bizao joined the list of startups that closed financial round more than $5 million with its new $8 million in series A funding.

What you should know: The round was led by key investors including AfricInvest, Adelie, and Seedstars Africa Ventures.

Another tech brand that made our list of mentions during the week is global American multinational technology company, Amazon.

The Jeff Bezos-founded company was in the news after announcing its decision to acquire a primary care provider, One Medical.

What you should know: One Medical is a members-only technology platform that offers an array of concierge medical services.

Next is Algebra Fund II, through Algebra Ventures, for securing $10 million from the Dutch Entrepreneurial Development Bank, FMO, and other investors.

The company confirmed the new funding in a press release seen by Ripples Nigeria on Thursday.

Read also:FROM CASHLESS TO CARDLESS: How Nigeria’s female-led AZAPAY is innovating the way we send and receive money

What you should know: The agreement to the funding was signed in the presence of the Dutch ambassador in Cairo, H.E. Mr. Han-Maurits Schaapveld.

Making the 5th story on the round down is the story of mx51, an Australian paytech company.

During the week, the startup made buzz after securing around $22 million (AUD 32.5 million) in a Series B round from an undisclosed investor.

What you should know: The investment saw participation from existing investors including Mastercard, Acorn Capital, Commencer Capital, Rampersand, and Artesian.

Our next story focuses on another product launch that got the tech community talking with Ripples Nigeria also making a feature.

This time we had a women-focused edutech startup, HerVenture, launching an app to boost entrepreneurial knowledge in female entrepreneurs in Africa.

What you should know: Launched by Cherie Blair, a high-profile British expert in human rights, the launching comes after HerVenture won an application from the Cherie Blair Foundation for Women.

Finally, tech correspondent Ridwan Adelaja had an exclusive feature and interview with the team lead of AZAPAY, Jackye Madu, where she shared her journey while building a product that is tool-ed to innovate how people and businesses make and receive payment.

Find excerpts below:
“Nigeria’s tech eco-system is expanding without let. From real-time payment notification, cardless payment technology, fake bank alert solution, and lowest rate on transactions, Nigeria’s female-lead fintech startup, AZAPAY, has introduced an array of innovative ways to help Nigerians seamlessly make and receive payment.

“In 2020, software developer and tech celebrity, Jacquelyn (Jackye) Madu, founded AZAPAY after observing series of challenges relating to processing payments in Nigeria. Top on the list were network downtime, card jamming in ATMs, and transaction failure despite account debited.”

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