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Nigerian startup Xend Finance uses decentralized finance (DeFi) to address currency devaluation. Aronu Ugochukwu and Abafor Chima founded the startup in 2019, and Ugochukwu is quite familiar with currency devaluation. . This gave birth to Xend Finance.” Image Credits: Xend Finance. It has since secured $2.2
Ugandan technology-enabled asset finance company Tugende today announced that it has closed $3.6 This brings Tugende’s total Series A financing to $9.9 This brings Tugende’s total Series A financing to $9.9 The company is also currently piloting financing for e-mobility assets. . Image Credits: Tugende.
When Chijioke Dozie, the CEO, spoke to TechCrunch in 2019, he cited recruitment purposes and clientele trust as reasons why the company made its financials public — an exercise it has done every second quarter for two years. It’s a tradition Dozie hopes the company will keep this year. . Image Credits: Carbon.
Moove , an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $105 million in new Series A2 financing. Africa is home to more than a billion people, where a majority have limited or no access to vehicle financing. that same year.
Coming out of stealth today with $150 million in debt financing and $11 million in seed funding, Arc is building what it describes as “a community of premium software companies” that gives SaaS startups a way to borrow, save and spend “all on a single tech platform.” Image Credits: Arc.
All these inefficiencies, asides from being time-consuming, lead to errors and affects cash flow and finance, which is why almost nine out of 10 small businesses in the country fizzle out in the first five years. The startup’s new financing round was led by Berlin-based VC Target Global. million in pre-seed funding.
The funds will also be used to extend vehicle financing credit to over 100,000 drivers in the next two years. The startup introduced vehicle financing in 2018, and in just over two years, CFO Guy-Bertrand Njoya told TechCrunch, the churn rate by drivers affiliated to them has crashed to “close to zero.”. “We
Bold , a technology company working to enable financial access to electronic payments in Colombia, has raised $55 million in a Series B funding round led by Tiger Global Management. It claims that merchants supported by Bold have seen sales grow about 25% on average simply by enabling digital payments. . “If
Shota Horii , his twin brother Yuta Horii and Jun Taketani co-founded SmartBank in 2019 after selling their previous startup Fablic, a Japanese online secondhand marketplace, to Rakuten in 2016. While operating Fablic, the trio found that many users still used cash to pay and manage their day-to-day finance.
These startups offer embedded finance solutions; Maelis Carraro , Catalyst Fund MD, explains the thought process behind this selection in a statement. First off, from Kenya, Koa enables users to save and invest, gaining control over their finances. African fintech dominates Catalyst Fund’s 2019 startup cohort.
The contribution of these enterprises is pivotal to the country’s economy yet they remain underserved by traditional banking institutions making it hard for them to access the financing needed to grow. It used the financing to fund its growth which included adding Leja to its portfolio.
We believe this consistency in leadership and intuition for where the markets were going in the heady days of 2019–2021 helped us to stay sane in a world that momentarily seemed to have lost its mind and since we have new capital to deploy in the years ahead perhaps I can offer some insights into where we think value will be derived.
He focuses primarily on investments in software and technology-enabled business services. Gartner recently forecast that SaaS revenue worldwide could surpass $140 billion by 2022, which would represent a 40% increase over 2019’s roughly $100 billion. Roger Hurwitz. Contributor. Share on Twitter. More posts by this contributor.
Founded in 2019, STACS has now raised a total of more than $6 million and is preparing to raise Series A funding later this year. It allows clients to integrate payment platforms (including Ubin), trading platforms and external software like user management systems, while enabling smart contracts and digital ledgers.
It’s a gap Marco Financial is looking to bridge through its tech-enabled risk assessment platform that can provide better insight on who should receive loans. They started Marco in 2019 and now have offices in New York, Dallas and across Latin America.
Sunstone, a higher education startup that collaborates with academic institutions to help upskill their students for employability, has raised $35 million in a new financing round as it looks to expand to more Indian cities. Sunstone founders said Friday WestBridge Capital led the startup’s Series C financing round.
In 2019 alone, the robotics space saw roughly 600 venture-backed fundraising rounds, while construction companies successfully raised roughly 200 venture rounds. As of April 2019, there are 434,000 vacant construction jobs ( Forbes ).From As of February 2017, nearly 200,000 construction jobs were left unfilled across the U.S.,
Since 2019, Plaid-esque companies, but with different twists to their offerings, have emerged to solve these issues. Fara Ashiru Jituboh and David Peterside founded the company in June 2019. But most of these companies and developers find it difficult to access real-time banking data. guaranteed uptime. .
A 2019 World Bank report says 85% of Africans live on less than $5.50 M-KOPA’s financing platform has proved helpful to this set of users since launching as an energy provider in 2011. But in its other two newer markets, customers are only eligible for smartphone financing at the moment, the company’s executives told TechCrunch.
London-based Divido , a white-label platform for retail finance that integrates with e-commerce platforms (but can also support omni-channel) so retailers can offer consumers a “buy now, pay later” option at the point of sale, has bagged a $30 million Series B to fund international expansion. Making sense of Klarna.
The latest financing brings its total equity raised since inception to about $450 million, with the company raising $100 million across its seed and Series C rounds. Since the end of 2019, BlockFi has seen its client base grow from 10,000 to more than 225,000. It’s a model that seems to be working in a big way.
The five-year-old startup said the new tranche of its Series B financing round was led by VII Ventures, with participation from Nutresa, Veronorte, Jumbofund, Klinkert Investment Trust, Peter Crosby Trust, Nexus Venture Partners and Discovery Ventures. Indian B2B e-commerce startup Udaan raises $280 million.
Leaf Trade , the leading wholesale cannabis ecommerce platform, announced their Series A financing. Leaf Trade connects licensed wholesale cannabis retailers and suppliers and standardizes operational practices that enable them to scale in a rapidly-expanding industry. Hyde Park Angels participated in the $5.5
Viva Republica, an operator of South Korean finance super app Toss , has finalized a $405 million Series G funding and it says it is now valued at 9.1 Profitability would also go a long in enabling the company — which is eyeing a potential initial public offering in the near term — to do so successfully.) . billion (8.5
The advantages of having open communication between different products and services are nearly infinite for credit scoring, moving money between bank accounts, and spanning verticals like the neobanks, credit providers, and personal finance products Latin Americans use every day.
Simon Ward founded FloatPays in 2019 as an on-demand wage access platform to help employees access, spend, save and manage their money. Lemonade Finance (Nigeria). In another digital banking play, Lemonade Finance provides multi-currency accounts for these migrants to enable seamless transactions and banking.
Caper announced its $10M Series A led by Lux Capital to fuel expansion of its AI-enabled smart shopping carts for grocery and convenience stores. Series B led by Index Ventures for its spend management solution that helps finance teams and combines spend approvals, company cards, and automated accounting. Naborly announced its $7.5M
This achievement also enables the miniaturization of the dialysis machine to a size that can be conveniently carried in a small bag. In December 2019, Awak Technologies secured $40 million in an oversubscribed financing round, allocating these funds for advancing late-stage clinical studies and expediting the commercialization of the device.
After leaving the Stripe-owned company in 2019, he launched a data startup called Voyance where Singh, who had already exited one of his products — Transferpay.ng , an offline payments startup — was a software engineer. However, for Hassan, Mono’s play overlaps open finance and open banking.
Fairplay co-founder and CEO Manolo Atala started the company with Andrew Devlyn in 2019. We see massive opportunity to enable businesses to run more smoothly, and Fairplay is in the middle of that.”. In total, the company has raised $40 million. Debt-as-a-service provider Sivo wants to power the next generation of lending startups.
The financing round was led by XBTO Ventures , a crypto finance company with a VC arm that invests in digital assets, among other types of startups. We were building an app that merchants can use to run their online businesses, from selling to delivery to financing, said the CEO, who put €200,000 of his money into the startup in 2019.
With low utilization rates across private hospital infrastructure, this ‘Airbnb for Surgeries’ solution enables HD to help both healthcare providers as well as patients. HD was founded in 2019 by a team of passionate and dedicated individuals with a shared healthcare vision for the future.
The new fund builds upon SoftBank’s $5 billion Latin America Fund, which was first announced in March 2019 and was formerly called the Innovation Fund with an initial $2 billion in committed capital. Recently, it co-led a $350 million Series D round in Argentine personal finance management app Ualá. billion as of June 30.
Since its inception in 2016, CompAsia has evolved into a comprehensive solution that enables customers to trade in or acquire electronic devices and offers financing options. Over the period from 2019 to 2022, CompAsia has facilitated the sourcing and transaction of over 2.1 million second-hand mobile devices.
Co-living rents can produce operating margins that are 30 to 50 percent higher than conventional multifamily properties, but the sector is facing challenges in markets like NYC, including "a lack of supply constrained by high land costs, strict zoning laws and a relatively shallow, though growing, pool of financing options.".
Cashflow management startup Settle announced its second round of funding in five months, this time $60 million in Series B financing as it aims to carve out a niche in the $25 trillion business-to-business payments market. It combines payments, financing and accounting integrations into one tool so that brands can scale faster.
So it’s not difficult to see why in 2019, the continent witnessed five mega deals in Branch, Tala, World Remit, Interswitch, and OPay that amounted to a total of over $775 million. Latin America is home to a growing base of digital users, enabling regulation and reforms, and vibrant small businesses. billion, per the report.
The new capital is not part of a new financing round but is an extension of its Series D. Octahedron Capital and Moonstone Capital are financing the fresh capital, with participation from existing investors Lightspeed Venture Partners, partners of DST Global, GGV Capital, Altimeter Capital and Tencent.
The investment from FEBE Ventures will enable HD to strengthen its marketplace further. Founded in 2019 by a team of passionate individuals sharing a unified vision for the future of healthcare, HD has emerged as a prominent healthcare and surgery marketplace in the rapidly expanding Southeast Asian region.
Despite the elaborate smoke and mirrors that Google has put up, one fact remains: Google is an advertising company with ads representing 71% of its revenue sources in 2019. Consumers looking to digitize their finances must heed caution before they break up with traditional banks and run into the arms of Big Tech. But there’s a catch.
Cora , a São Paulo-based technology-enabled lender to small-and-medium-sized businesses, has raised $26.7 Kaszek Ventures, QED Investors and Greenoaks Capital also participated in the financing, which brings the startup’s total raised to $36.7 million since its 2019 inception.
Y/C helped enable this by introducing the Post-Money SAFE in 2018, fixing some of the more egregious problems with SAFEs, principally the lack of transparency about valuations when multiple SAFEs convert to equity. FIGURE 3 examines the different types of securities used at each stage at which ACA angel groups invested from 2019 through 2021.
In August 2019, Kimberly Hickok Smith spoke at the MyEO Women of EO Summit in Bogota, Colombia. Getting financing for the contract was a struggle. Women of EO is the tribe that can provide a global platform for mentoring, building, innovating and financing the future we want our children to inherit.
Ahead of this year’s Global Climate Strike (20-27 September) and the Global Goals Week (21-30 September), the Impact Hub network is launching its 2019 Global Impact Report. The 2019 Global Impact Report is the culmination of gathering relevant data from a number of their 16,500 members of 100+ locations in over 55 countries around the globe.
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