Jake Bright

Jake Bright is a writer and author in New York City. He is co-author of The Next Africa.

The Latest from Jake Bright

Lessons from M-Pesa for Africa’s new VC-rich fintech startups

Over the least decade, Africa has been in the midst of a startup boom accompanied by big growth in VC and improvements in internet and mobile penetration.

Mobility startup Damon Motors enters e-moto arena with EV debut

Vancouver-based mobility startup Damon Motorcycles has entered the EV arena with a preview of its first e-moto, the Hypersport Pro. The seed-stage company had previously focused on creating digital sa

Credit startup Migo expands to Brazil on $20M raise and Africa growth

After growing its lending business in West Africa, emerging markets credit startup Migo is expanding to Brazil on a $20 million Series B funding round led by Valor Capital Group. The San Franicso-base

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 p

Sim Shagaya’s uLesson African edtech startup raises $3.1M

Nigerian founder Sim Shagaya is back with a new startup —  uLesson — that has raised a $3.1 million seed round led by TLcom Capital. The venture is integrating mobile platforms, SD cards, culture

Samasource raises $14.8M for global AI data biz driven from Africa

AI training data provider Samasource has raised a $14.8 million Series A funding round led by Ridge Ventures. The San Francisco-headquartered company delivers Fortune 100 companies with the inputs the

Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Africa-focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to sc

PalmPay launches in Nigeria on $40M round led by China’s Transsion

Africa-focused payment startup PalmPay has launched in Nigeria after raising a $40 million seed round led by Chinese mobile-phone maker Transsion. The investment came via Transsion’s Tecno subsi

Chaka opens up global investing to Africa’s most populous nation

Fintech startup Chaka aims to open up online investing to Africa’s most populous nation, Nigeria. The seed-stage company recently went live with its mobile-based platform that offers Nigerians s

Pan-African e-tailer Jumia grows 3Q revenue, e-payments and losses

Pan-African e-commerce startup Jumia released its third-quarter financial results today. The numbers and presentation reflected some of the same past trends, with a dash of new, and nary a mention of

Nigeria’s Interswitch confirms $1B valuation after Visa investment

Nigerian digital payments firm Interswitch confirmed today it has reached unicorn status after Visa acquired a minority equity stake in the firm. “The investment makes Interswitch one of the mos

African logistics startup Lori Systems raises Series A led by Chinese investors

African on-demand trucking logistics company Lori Systems has raised a Series A round led by Chinese investors Hillhouse Capital and Crystal Stream Capital. Other participating investors included Nige

Solar-based ISP startup Tizeti launches 4G LTE network in Nigeria

Nigerian internet service provider Tizeti has launched its first 4G LTE network. The Y Combinator-backed startup — which uses solar-powered towers to deliver net connectivity — has built its premi

Senegal’s NIMA Codes to launch address app in 15 African countries

Senegalese startup NIMA Codes — a digital mapping service for locations without formal addresses — has upgraded its app and plans to go live in 15 African countries in 2020. The pre-seed stage sta

Talking to Zero Motorcycles’ CEO and taking home the 2020 SR/F

The motorcycle industry is shifting to electric. Harley-Davidson signaled the trend this year, becoming the first big gas manufacturer to release a street-legal e-motorcycle in the U.S., the LiveWire.

Africa Roundup: Goldman leads $30M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry

Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs. This adds to the list of African startups the U.S. financial firm has backed, including

Supercross’s anticipated EV class not ready for primetime in 2020

Motorcycle racing series Supercross isn’t quite ready to add an EV class. The sport — where riders race high-performance machines on jump-filled stadium tracks — currently fields only gas-po

Bosun Tijani talks strategy as CEO of Africa’s new largest tech hub

With CcHub‘s acquisition of iHub in September, Nigerian Bosun Tijani is at the helm of (arguably) the largest tech network in Africa. He is now CEO of both organizations, including their robust

Revisiting Jumia’s JForce scandal and Citron’s short-sell claims

In advance of Jumia’s November financial reporting, it’s worth revisiting the company’s second-quarter results, the downside of which included some negative news beyond losses. The A

Kenya’s Twiga Foods eyes West Africa after $30M raise led by Goldman

Kenya’s Twiga Foods has raised a total of $30 million from lenders and investors led by Goldman Sachs. The B2B food distribution company financed $6.25 million of the funding in debt and $23.75
Load More