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

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 responsible for skyrocketing adoption rates as citizens try to hedge against currency devaluation and build wealth. Despite African governments’ inconsistent stance on cryptocurrencies, these […]

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Jumia, Zipline launch drone package delivery in Ghana

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. Jumia said it will integrate its existing distribution network with Zipline’s automated on-demand delivery system for rapid home deliveries, especially to shoppers residing in […]

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Bluechip, an African systems integrator with partners like Microsoft and Oracle, is expanding to Europe

Bluechip, an African systems integrator with partners like Microsoft and Oracle, is expanding to Europe

It’s not often you hear about African tech companies expanding into Europe. Some examples include fintechs Lidya and Korapay in Eastern Europe and the U.K., respectively. In the latest development, Bluechip Technologies, an African enterprise company that partners with international OEMs like Microsoft and Oracle and provides data warehousing solutions and enterprise applications to banks, […]

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Flutterwave denies money laundering and fraud allegations following accounts freeze by Kenyan court

Flutterwave denies money laundering and fraud allegations following accounts freeze by Kenyan court

Flutterwave has come out to deny the fraud and money laundering claims leveled against it by Kenya’s Asset Recovery Agency, which investigates and recovers proceeds of crime. This is after a total of $52.5 million in 62 accounts linked to Flutterwave and six other companies that are recipients of wire transfers from the fintech were […]

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Nigerian startup Klasha gets an additional $2.1M for its cross-border commerce play

Nigerian startup Klasha gets an additional $2.1M for its cross-border commerce play

Lagos and San Francisco-based Klasha has received an additional $2.1 million to complete its $4.5 million seed round. The startup, which provides multiple products for the cross-border commerce space in Africa, raised this new financing from a group of international investors including Amex Ventures, the strategic investment group of American Express. This investment is Amex […]

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IROKO co-founder Bastian Gotter raises $3.2M seed for new venture, Bamba

IROKO co-founder Bastian Gotter raises $3.2M seed for new venture, Bamba

In 2010, Bastian Gotter invested up to $200,000 into IROKOtv, an African video-on-demand company Jason Njoku, his friend and co-founder, launched in Lagos, Nigeria. For the next couple of years, Gotter, as CFO, was instrumental in turning IROKO — after raising over $30 million from VCs, including Tiger Global — into a household name in […]

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rali_cap gets backing from global VCs and launches $30M fintech fund for emerging markets

rali_cap gets backing from global VCs and launches $30M fintech fund for emerging markets

Rali_cap, an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite. The two-year-old VC fund invests in B2B and API-first […]

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Justice Department indicts 80 individuals in a massive business email scam bust

Justice Department indicts 80 individuals in a massive business email scam bust

The Justice Department has indicted dozens of individuals accused of involvement in a massive business email scam and money laundering scheme. Thom Mrozek, a spokesperson for the U.S. Attorneys Office for the Central District of California, confirmed more than a dozen individuals had been arrested during raids on Thursday — mostly in the Los Angeles […]

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