Nigeria

African neobank Kuda tried to raise $20M at flat valuation in 2023, missed user milestone projection by 3M

Updated to note that Kuda has now responded to say that it didn’t close a bridge round last year. The story below is modified to reflect that. Earlier this month, Kuda co-founder and CEO Babs Ogunde

Akowe wants to fix Africa’s broken certificate system with blockchain

The crypto industry has long been criticized for its disconnection with the real world, but there are players who try to show that the underlying blockchain technology can solve some of our most press

Nigerian embedded finance platform Anchor raises $2.4M to expand product offerings

Anchor, a Nigerian banking-as-a-service (BaaS) provider, has raised $2.4 million in seed investment. Justin Kan’s Goat Capital led the financing round, which also welcomed participation from Founder

Cold-chain startup Figorr raises $1.5M, backs the rollout of data-driven perishables insurance

Oghenetega Iortim built Nigerian-based cold-chain startup Figorr after imagining better means of storage and transportation of temperature-sensitive products, following the post-harvest losses from hi

Nigerian B2B e-commerce startup Alerzo cuts 15% of full-time staff in second round of layoffs

Alerzo, a Nigerian B2B e-commerce platform that digitizes commerce and payments processes between FMCG suppliers and informal retailers, has laid off 15% of its full-time workforce, the company confir

More job cuts loom as Sendy changes course in Nigeria

In October last year, Sendy, a Kenyan logistics scale-up, wound up its supplies service, which enabled retailers to purchase FMCGs directly from manufacturers, saying it was directing all its focus on

SunFi aims to be the fastest way for Nigerians to find, finance and manage solar

SunFi, the Nigerian clean tech startup that connects people and businesses who want solar energy access to payment plans that match their needs, has raised $2.325 million in seed funding. The self-des

Google to ban unlicensed loan apps in Kenya as new rules take effect

Google’s new policy requiring digital lenders in Kenya to submit proof of license to operate in the East African country takes effect today. The policy aims to clamp down on rogue loan apps, which a

Nigerian startup Taeillo raises funding to scale its online furniture e-commerce platform

Individuals or businesses buying furniture in Africa can purchase from local furniture stores or global furniture retailers like Ikea. But both options have pros and cons; for the latter, local furnit

Google clamps down on illegal loan apps in Kenya, Nigeria

Google is requiring loan apps in Kenya to submit proof of license to operate in the country, failure to which they risk removal from Play Store, its digital distribution service. Those that have appli

Nigeria’s AltSchool increases course options amidst soaring tech-skill demand

After launching its inaugural school of engineering earlier this year and raising pre-seed funding, Nigeria’s AltSchool has expanded its catalog to include data and product schools, responding to th

Vendease, a food procurement platform for African restaurants, nabs $30M led by Partech Africa and TLcom

When Vendease launched in January 2020, it wanted to solve the challenges and inefficiencies in Nigeria’s highly fragmented food sector using a marketplace model that connected suppliers and farms t

Nigeria’s YC-backed Remedial Health raises $4.4M seed funding

Early this year, Nigerian health tech startup Remedial Health announced plans to scale within the West African country, digitizing pharmacies and bringing efficiency in the pharmaceutical supply chain

Kenya’s HotelOnline acquires hospitality software company HotelPlus

HotelOnline, a Kenya-based Yanolja-backed travel technology scale-up that fashions itself as an e-commerce and digital marketing enabler in the hospitality industry, has acquired HotelPlus, a software

Nigerian blockchain payments startup Bitmama closes $2M pre-seed as it scales to new markets

Africa is the world’s third fastest-growing crypto market, with crypto adoption increasing by more than 1,200% over the last two years. Countries such as Nigeria, Kenya and South Africa are majorly

Odyssey Energy Solutions continues quest to electrify developing economies with $5.3M seed

The startup's platform enables the planning, financing, building and operating of distributed renewable energy projects in developing economies.

Online university Nexford will use $8M to plug affordability and relevance gaps in education

U.S.-based online university platform Nexford University has raised $8 million in a Series A round co-led by New Markets Venture Partners and Learn Capital, two prominent edtech venture capital firms

Here’s where YC’s latest batch of founders are placing fintech bets

Y Combinator’s latest cohort of founders have opinions on the future of fintech. One-fifth of the accelerator’s Summer 2022 batch, which spans 240 companies, is working on solving issues in the fi

Nigerian digital bank Kuda is the latest African startup to lay off employees

Kuda, the challenger bank based in Nigeria and the U.K., has joined the ranks of tech companies in Africa that are pruning their workforce. The news of the layoffs, which was first disclosed to TechCr

Jumia, Zipline launch drone package delivery in Ghana

Jumia, the pan-African e-commerce company, has partnered with Zipline to launch on-demand drone delivery in Ghana, with plans to expand the service to Nigeria and Côte d’Ivoire in the near future.
Load More