Africa Series Tiger 1B Keneokafortechcrunch is the name of a new breed of tiger that is gaining popularity in the world Chinabased. It is one of the most beautiful tigers that you will ever see in your life. These new breeds are not only extremely cute, but they are also very strong, and can do anything that you can think of.
Finclusion Group, which is also known as Fin, is a digital bank. The company uses AI algorithms to deliver financial services to African customers. They have raised $2 million in equity financing and $20 million in debt facilities in a pre-Series A round. It has administrative hubs in Kenya and South Africa and is looking to expand to West Africa.
Fin inclusion is the first of its kind in Africa. Other neobanks like Kuda and Carbon operate in Nigeria and Kenya, and FairMoney has branches in India and Nigeria. These banks all offer similar products such as employee benefits and loans. However, what sets Finclusion apart is its credit-led strategy.
Ejara Africa is a crypto-led 21st century financial institution that is targeting French speaking Africans and Francophones living abroad. The startup aims to become a financial super app for the region, providing a platform for accessing investment products and crypto services. In addition, the company aims to become a one-stop shop for financial products tailored to the needs of its users.
Founded by Nelly Chatue-Diop, who has an MBA in finance from MIT, and based in Cameroon, the company has been in operation for just over a year. It has so far raised $10 million. One of the most notable features of the company is the fact that it has zero marketing budget.
The company that raised $6m in a single May afternoon has some pretty impressive numbers. For one, they have one of the largest databases of any start-up in Africa. In addition, they boast of a staff of a dozen and some hefty contracts with major brands. This includes a recent deal with Leaps by Bayer. Lastly, the company has secured some serious funding from a few of the big boys including Tiger Global, a name synonymous with the finest in the business.
Among other things, the company aims to double its customer base in the next four years and introduce a few new products along the way. For a brief stint, they were part of the Union54 accelerator program.
The first unicorn to grace the continent of Africa is Wave. The company’s flagship product is the Wave mobile money platform. It has a valuation of $1.7 billion. In a press release, Wave CEO and founder Victor Asemota calls the firm “a premier player in the African mobile financial services sector.” At the time of writing, the company had raised $200 million in Series A funding. The company is headquartered in Senegal. Tiger Global and its partners have invested in several startups including FairMoney, Float, Mono, and the jambos of the aforementioned. There are other companies vying for the aforementioned top spot.
It isn’t always easy to find finance for African small and medium businesses. Long payment cycles can be the main reason why, but there are many startups out there trying to solve this problem. Float is one such startup.
Float is a cash management platform that offers a variety of tools and services. These include invoice advances, spend cards, and software that allows you to track your money. In addition, Float has an instant payout option, which means you don’t have to wait to get paid.
The startup is based in Ghana and Nigeria, but plans to expand into Kenya and South Africa in the future. It will use the new funding to enhance its offerings. Among other things, Float is working to build an operating system for African small and medium-sized businesses.