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

MoneyHash, ETAP, Lengo AI, CrossBoundary Access, Capifly, Starlink, Stitch, Bizzyyn, Sanari Capital, Jisr, were some of the names that made the headlines this week.

CrossBoundary Access has signed a new partnership deal with Mobile Power to expand its business across Nigeria.

Also, Jordan-based fintech, Capifly, has announced securing a $1 million pre-Seed funding round.

Let’s get into details.

CrossBoundary Access has signed a new partnership deal with Mobile Power to expand its business across Nigeria.

This is contained in a press release seen by Ripples Nigeria on Friday, Oct 6, 2023.

The partnership, valued at $10 million, is expected to help the company introduce Mobile Power’s MOPO Hubs to Nigeria.

ETAP, a Nigerian insurtech startup, has joined forces with AIICO Insurance, an insurance firm in Nigeria, with the aim of expanding the reach of car insurance within the country.

This was contained in a press release signed by Ibraheem Babalola, the CEO of ETAP, as seen by Ripples Nigeria on Monday.

The startup simplifies the acquisition and claims process for car insurance, offering its users a range of daily, weekly, monthly, and quarterly plans.

Instant messaging app, WhatsApp, has continued on its commitment to enhancing the user experience by introducing new features alongside ongoing improvements to its channels.

In a recent development, observed by Ripples Nigeria on Monday, users who have installed the latest WhatsApp beta updates for both iOS and Android now have the ability to copy links from channel updates.

Following the global launch of WhatsApp Channels, the platform has dedicated resources to refining various features to provide users with a more seamless experience.

The Federal Government, on Monday, unveiled a plan to equip three million Nigerians with tech skills over the next four years.

Minister of Communication and Digital Economy, Dr. Bosun Tijani, who made this known also said there were plans to help startups raise their yearly funding rounds to $5 billion by 2027, and improve access in rural areas by at least 40 per cent.

The Minister disclosed this while outlining his plan for the ministry, in a document tilted, ‘Accelerating our collective prosperity through technical efficiency: A strategic plan for the Federal Ministry of Communications, Innovation & Digital Economy’.

Jordan-based fintech, Capifly, has announced securing a $1 million pre-Seed funding round.

The round, according to the startup, comes from a consortium of investors, including Oasis500, BLDR Ventures, Joa Capital, Ahli Fintech, and various angel investors hailing from Jordan and KSA.

Founded in 2021 by Dunya Bashiti and Ahmed Jaradat, Capifly provides non-dilutive Sharia-compliant venture debt to fuel the growth of startups.

Jumia, an e-commerce platform, has forged a strategic partnership with Starlink, an Elon Musk-led satellite internet provider, to introduce the Starlink Residential Kit across African markets.

The partnership deal was disclosed in a press release seen by Ripples Nigeria on Tuesday.

The innovative kit, designed for effortless internet connectivity, simplifies the process with pre-configured components to ensure an uninterrupted view of the sky.

The CEO of Pick n Pay, Pieter Boone, has tendered his resignation from the top position, effective from September 30th, as announced by the retail giant on Monday.

In a swift transition, Sean Summers, a seasoned Pick n Pay veteran, who previously served as Managing Director and CEO of the group for 11 years, will assume the role of CEO immediately.

Gareth Ackerman, Chairman of Pick n Pay, expressed his gratitude to Pieter Boone for his unwavering dedication during his two-and-a-half-year tenure.

Payments infrastructure leader, Stitch, celebrates a significant milestone with the closure of a $25 million Series A extension round, driven by Ribbit Capital.

This latest funding injection saw the participation of existing investors including PayPal Ventures, The Raba Partnership, and CRE Venture Capital.

The new development propels Stitch’s total funding to an impressive $52 million.

Payment company, Visa, has entered into new partnership deal with Expel, a cybersecurity solutions firm.

Under this collaboration, Expel will integrate its Managed Detection and Response (MDR) capabilities into Visa’s Value-Added Services portfolio.

This integration aims to bolster Visa’s ability to fortify its security team and jointly provide enhanced cybersecurity solutions to clients worldwide, safeguarding them from the ever-expanding cyber threats.

Lengo AI, a Senegalese software-as-a-service (SaaS) startup, has announced closing a Pre-Seed investment round led by Acasia Ventures, an Egypt-based venture capital firm.

Joining in this funding round are prominent investors including Ventures Platform, P1 Ventures, Launch Africa, Voltron Capital, and a group of individual angel investors.

The capital infusion from this investment is poised to play a pivotal role in Lengo AI’s strategic expansion.

Tanzanian-based business management startup, Bizzyn, has made entry into new markets including Kenya and Malawi.

The move comes as the startup continues to push its mission to provide cloud-based financial management software tailored to the needs of small and medium-sized businesses (SMBs) across Africa.

Founded by Emmanuel Kimaro and Abbas Mussa, Bizzyn addresses a crucial gap in the market.

Amazon Web Services (AWS), the renowned cloud-computing division of the global tech giant, has unveiled plans to create a development center in Nairobi.

This significant move is set to generate a host of job opportunities in various tech fields, including software development, cloud support, and software engineering.

The new facility will boast the presence of global tech giants and nurtures a thriving ecosystem of innovative startups.

Sanari Capital, a women-led private equity firm, has secured a R1.25 billion (~$65 million) investment to boost its venture.

The startup disclosed this in a press release seen by Ripples Nigeria on Friday, October 6, 2023.

According to the release, the aim of the fund is to reach a final close of up to $100 million.

Jisr, a Saudi-based platform specializing in the digitization of human resources operations, has closed a $30 million investment round led by Merak Capital, a prominent investment firm focusing on technology opportunities across various stages and industries.

Abdullah Altamami, Partner and CEO of Merak Capital, stated this in a press release seen by Ripples Nigeria on Friday.

This investment stands as the largest Series A funding round ever secured by a Software as a Service (SaaS) company in the Middle East.

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