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Posts Tagged ‘ethiopia’

Nigeria’s Paga acquires Apposit, confirms Mexico and Ethiopia expansion

Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. That’s just part of Paga’s news. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo Oviosu told TechCrunch The moves come a little over a year ...

Africa Roundup: Nigerian fintech gets $360M, mints unicorn, draws Chinese VC

November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian focused payment ventures. That is equivalent to roughly one-third of all the startup VC raised for the entire continent in 2018, according to Partech stats. A notable trend-within-the-trend is ...

Africa’s top mobile phone seller Transsion lists in Chinese IPO

Chinese mobile-phone and device maker Transsion has listed in an IPO on Shanghai’s STAR Market, a Transsion spokesperson confirmed to TechCrunch.  Headquartered in Shenzhen, Transsion is a top-seller of smartphones in Africa under its Tecno brand. The company has also started to support venture funding of African startups. Transsion issued 80 million A-shares at an opening ...

DHL expands Africa eShop online retail app to 34 countries

DHL  has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company’s e-commerce platform to 34 African countries. DHL went live with the digital retail app in April, bringing more than 200 U.S. and U.K. sellers — from Neiman Marcus to Carters — online to African consumers. Africa eShop ...

Africa Roundup: Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update

Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current ...

China’s Transsion and Kenya’s Wapi Capital partner on Africa fund

Chinese mobile-phone and device maker Transsion is teaming up with Kenya’s Wapi Capital to source and fund early-stage African fintech startups. Headquartered in Shenzhen, Transsion is a top-seller of smartphones in Africa that recently confirmed its imminent IPO. Wapi Capital is the venture fund of Kenyan fintech startup Wapi Pay—a Nairobi based company that facilitates digital ...

Africa’s top mobile phone seller Transsion to list in Chinese IPO

Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to TechCrunch. The company—which has a robust Africa sales network—could raise up to 3 billion yuan (or $426 million). “The company’s listing-related work is running smoothly. The registration application and issuance process is still underway, with the specific ...

Flutterwave and Alipay partner on payments between Africa and China

San Francisco and Lagos-based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian-founded B2B payments service (primarily) for companies in Africa to pay other companies on the continent and abroad. Alipay is Alibaba’s digital wallet and payments platform. In 2013, Alipay ...

Africa Roundup: Yamaha backs MAX, Founders Factory and Norrsken support startups, inside Ethiopia’s tech scene

Competition in Africa’s two-wheel ride-hail market is accelerating. Nigerian motorcycle transit startup MAX.ng was the latest startup to add funding, raising a $7 million funding round in June with participation of Japanese manufacturer Yamaha. Based in Lagos, the company’s app-based platform coordinates motorcycle taxi and delivery services for individuals and businesses. With the Series A ...