It has been a long week for tech players in Nigeria as activities began to pick up.
We recorded a venture expansion during the week with Kuda bank leading the week on fundraising.
Also, Cash2Cash joined Catalyst Fund fintech accelerator while Nigeria’s Topship began operation as a freight forwarding company.
The Catalyst Fund fintech accelerator
Nigerian agritech startup, Crop2Cash, had during the week joined Catalyst Fund’s ninth Inclusive Fintech cohort.
This gives the agritech startup access to the global network of investors and corporate partners.
The startup unlocks affordable financing for smallholder farmers and provides digital finance solutions along with the agriculture value chain.
Kuda bank’s $55m fundraising
Nigerian-operating Neobank, Kuda bank, closed a Series B of $55 million to take its valuation up to $500 million.
According to the startup, the fund will be invested into plans to double down on new services for Nigeria and other developments in the pipeline.
With this development, Kuda continues to take on incumbents in the country with a mobile-first, personalised, and often cheaper set of banking services built on newer, API-based infrastructure.
Field Intelligence expansion
Nigerian e-health startup, Field Intelligence, has expanded its venture into 11 new cities across Nigeria and Kenya.
The development came after the company crossed the 1.4 million thresholds of serviced patients.
Field Intelligence digitizes the supply chain and ensures access to essential and life-saving medicine.
During the week, Nigerian startup Topship operation as a freight forwarding company, connecting merchants on the continent with the rest of the world.
The idea to build what is now described as Flexport of Africa that was conceived during the COVID-19 lockdowns of June last year.
Impressively, the startup has over 300 recurring merchants and has continued to grow by 20 percent month-on-month.
Thank you for joining us this week. That will be all for now. Take care and stay here for more updates.
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