An African cross-border payments company has raised $150 million in a Series C extension round led by Sam Bankman-Fried’s cryptocurrency exchange platform FTX. Chipper Cash, founded in 2018 by Ham Serunjogi and Maijid Moujaled, is a no-fee peer-to-peer cross-border payment service in Africa. Users can accept payments in Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa, and Kenya through their app. Chipper Cash‘s investment comes barely six months after it closed its first Series C round of $100 million, led by SVB Capital, the corporate venture capital arm of SVB Financial Group. Deciens Capital, Ribbit Capital, Bezos
The banking institution has pledged $10 million to one of the leading private liberal arts Historically Black Colleges and Universities (HBCUs) in the South. According to a press release, the funds are a part of Bank of America’s Mayor’s Racial Equity Initiative in the Charlotte, NC region. It includes a $1.25 billion five-year commitment to create more economic opportunities and push racial equality within local communities. In an official statement, Kieth Cockrell, President of Bank of America Charlotte, said: “Our long-term relationship with JCSU has set the foundation for this critical moment – a
Twiga Foods has raised $50M in its Series C round to take its mission to expand food and retail distribution across the African continent. The firm, which launched in 2014, uses technology to build supply chains in food and retail distribution. It claims to simplify the supply chain between fresh food producers, FMCG manufacturers, and retailers through a B2B e-commerce platform and it currently has over 100,000 registered customers and delivers to 10,000 every day. Twiga now plans to use the funding to test out a model they’re developing “to reduce the
Byron Allen, the 1980s comedian-turned-media-mogul, aims to acquire Tegna Inc in an $8 billion deal. The news comes months after it was reported that Allen’s Weather Channel’s business had taken a hit due to the pandemic as the TV advertising dried up, leading to piling debt load. Tegna, formerly owned by Gannett Co Inc, is a chain of 64 TV and radio stations that span 50 markets across the U.S. The deal could significantly boost Allen Media Group, which has amassed 33 local TV network affiliate stations. Allen — who came to
A sequel on the piece of Black founders profitable without Venture capital. Not all startups reach the promised land of VC funding. Not all startups require VC funding to be successful. With the odds stacked against Black and Brown entrepreneurs, they typically need to find other ways to innovate and grow. Money isn’t always easy to come by. Bootstrapping means launching and growing your startup using your personal financial resources. See how these Black women founders left behind the “scale no matter what” mentality. Instead, they built their startups into successful, profitable
Facebook parent Meta Platforms Inc. is pushing the boundaries of artificial intelligence robots and is reportedly launching touch sensitivity with two new sensors it has created. They include a high-resolution robot fingertip sensor called DIGIT and a thin and replaceable robotic “skin,” known as ReSkin. DIGIT was first released in 2020 as an open-source design; it uses a tiny camera pointed at the pads to produce a detailed image of the touched item. While Reskin can help AI robots to discern information such as an object’s texture, weight, temperature, and state. According
An African startup described as the “booking.com for healthcare” by its founder has raised $1.5 million from its most recent round. RecoMed acts as a marketplace where patients can find and book services with healthcare professionals across South Africa. Sheraan Amod first founded the company after a brief stay in the U.S, where he experienced for the first time what it was like to book medical appointments online, which wasn’t the case back in his home country, South Africa. Mr. Amod then returned and created the company he refers to as
Nigerian automotive tech company Autochek has secured a $13.1 million seed round almost a year after raising $3.4 million pre-seed in November 2020. Pan-African VC firms TLcom Capital and 4DX Ventures led the recent fundraising. These are the same investors that led the startup’s pre-seed round. Other existing investors include Golden Palm Investments, Enza Capital, and Lateral Capital, invested as well. First-time investors included ASK Capital and Mobility 54 Investment SAS, the venture capital arm of Toyota Tsusho and CFAO Group. In total, Autochek has raised $16.5 million in two financing rounds. What service does
Bolt is set to roll out electric taxi options in South Africa four months after introducing e-bike food delivery services as part of its mission to expand across the continent rapidly. The move comes amid plans by Uber to test a carpooling and rideshare service in Nairobi, with ideas to also roll it out in Ghana and Nigeria. Bolt’s electric taxi option is part of the company’s “green category” initiative. The system lets riders only hail an electric or a hybrid vehicle – which is considered more environmentally friendly. The firm
UnitedMasters, the “record label in your pocket” for independent artists, has closed a $50M Series C at a $550M valuation to support and empower independent artists. The company is a full-service technology platform for independent artists seeking creative and commercial success while maintaining complete control of their music and financial future. It gives creators access to premium music distribution services, a suite of tools to help directly connect with their fans, and opportunities to connect with the world’s biggest brands through partnerships with the NBA, ESPN, TikTok, Twitch, and more. The startup record label
