Launched this month with the premise to hire, develop, and manage remote talent for global companies, Ile-Ife-based talent startup, TalentQL, has raised $300k in pre-seed funding to carry out operatio…
Startups
In nearly a decade, hundreds of entrepreneurs have emerged with innovative startups across the African continent. We provide insights on their experiences and highlight the activities of investors who fund them.
An insight into how impact investing firm, Alitheia Capital invests in African startups
Founded by ‘Tokunboh Ishmael, Alitheia Capital is a fund that invests in growth companies with the likes of Paga and Lidya in its portfolio. Here’s what the 13-year-old fund’s invest…
How Future Africa invested $1 million across 9 African startups in Q3 2020
When Future Africa rolled out its Fund in January, it had 14 startups in its portfolio. However, after introducing its Collective and Rolling Fund schemes, it now has 28; with 9 receiving $1m between …
Adewale Yusuf steps down as publisher of Techpoint Africa to launch tech talent startup, TalentQL in Ile-Ife
After stepping down as the Publisher of Techpoint Africa, Adewale Yusuf has turned his sights to TalentQL, an Ile-Ife-based talent startup he founded with Sultan Akintunde of DevCareers and Opeyemi Aw…
After raising $1.6m pre-seed last year, Nigerian digital bank, Kuda bags a $10m seed investment
Last year, Nigerian-based mobile challenger bank, Kuda, raised an impressive pre-seed round of $1.6m. Now armed with $10m in seed funding, Kuda wants to become Africa’s premier digital challenge…
Eze Wholesale is a YC-backed commodities exchange startup that helps people trade used smartphones
Childhood friends, David and Joshua have started various businesses together. With one such business, Eze Wholesale, the plan is to disrupt the world’s used smartphone market.…
Why API fintech startups are becoming a big deal in Nigeria
2020 has seen the emergence of new kids on the Nigerian fintech block: API fintech startups. With a seemingly surefire path to success after raising impressive pre-seed rounds, here’s why Okra, …
Wee Media, the parent company of tech and business publication, WeeTracker, raises $400k seed
Pan-African media company, Wee Media has raised a seed round of $400k. The company will use the investment to scale its subscription-based products (Wee Tracker and AfriCo), and expand to South Africa…
Only 14 West African startups raised $10m+ in the last decade
Between 2010 and 2019, 51 West African startups each raised at least $1m cumulatively. But further research shows that only 27.45% (14) of them raised above eight figures.…
Why solving Nigeria’s housing problem is beyond proptech startups for now
Real estate startups (proptech) are innovating to solve the obvious housing problem in Nigeria. However, it appears they are constrained by the existing infrastructure such that the average urban resi…
Nigerian HR startup, SeamlessHR, raises a seven-figure round to drive pan-African expansion
With a presence in Nigeria and Ghana, SeamlessHR has raised a fresh round to expand to other African countries. US-based Lateral Capital and Lagos-based Consonance Investment Managers led this round.…
Nigeria’s CcHub acquires Kenya’s eLimu to build the content creation arm of re:learn
A year after acquiring iHub, Nigerian incubation hub, CcHub acquires Kenyan edtech startup, eLimu to develop digital academic content for its education unit, re:learn; will soon expand to other Africa…
After raising $10k from an angel investor, Pickmeup wants to expand outside Nigeria
In 2017, Abeokuta-based Pickmeup launched as a transport service but now offers food delivery, logistics, and ride-hailing services. Armed with new investment, it is targeting expansion outside Nigeri…
OAU, CU produced the highest number of ‘millionaire’ West African startup founders in the last decade
The last 10 years saw 51 West African tech startups each raise at least $1m. A study reveals that majority of these startups’ founders are alumni of Obafemi Awolowo University and Covenant University.…
Only 10% of female-founded startups in West Africa have raised up to $1 million since 2010
A comprehensive analysis of tech startups in West Africa, that raised at least $1 million cumulatively in the past ten years, reveals that only 10% of them have at least one female co-founder.…
An insight into how venture capital firm, Oui Capital invests
In 2018, Olu Oyinsan left Ingressive Capital to start his VC firm, Oui Capital, with Francesco Andreoli. Having made cheques in eight startups across five countries, here’s how the two-year-old …
Only 1 in 17 West African startups, that raised $1m+ in the past decade, closed shop
In the past decade, more than 50 startups have raised $1m or more cumulatively in West Africa. And while 90% of startups fail, only 5.9% of these set of startups have done so thus far.…
“No investor fires the guy making them money.” — Bayo Adedeji, Wakanow CEO, on the company’s restructuring and growth
This time last year, Adebayo Adedeji replaced Wakanow’s founder, Obinna Ekezie, as CEO. In this interview, he shares his one-year journey transitioning the company from a founder-led business to a pro…
What Paystack acquisition means for the Nigerian startup ecosystem
Last week, Stripe announced its acquisition of Paystack for more than $200 million. As the five-year-old startup continues to operate independently, we take a look at the possible impacts of the deal.…
Paystack has been acquired by Stripe in a deal rumoured to be over $200m
For many in the Nigerian tech ecosystem, it was just a matter of time before this happened. Stripe, the lead investor in Paystack’s Series A funding has acquired the Nigerian payments startup fo…