New York-based fintech startup Comun is redefining the bank experience for Latine immigrant communities in the US and reimaging local banking for the digital world. Founded in 2021 by Andres Santos, CEO, and Abiel Gutierrez, CTO, both of whom experienced financial exclusion upon migrating to the US, Comun has secured $9 million in funding to date. Banking Disparities in the Latine Community The Latine population contributes a staggering $3.2 trillion to the US GDP. This makes it the world’s fifth-largest economy, more than the GDPs of India, the UK, and
The Rector Cares Foundation has launched Nkuzi STEM, a pioneering program creating pathways for young people across Nigeria aged 15-20 to pursue careers in Science, Technology, Engineering, and Mathematics (STEM). “The lack of diversity in technology not only limits the industry’s potential but also perpetuates inequality,” said Rector Cares Foundations founder Onyedikachi Erete. “Nkuzi STEM seeks to break down those barriers and create a tech landscape that reflects the richness of our society.” Improving lives for Nigerians The Rector Cares Foundation, a non-governmental organization focused on empowering communities in Nigeria with
Ghana’s telco regulator has issued a warning against the sale and operation of Starlink, Elon Musk’s satellite internet service. Starlink has yet to obtain a license or type approval in the West African country, but citizens appear to be purchasing kits through intermediaries. Starlink in Ghana Starlink is an internet satellite constellation operated by American aerospace company SpaceX, providing coverage to over 60 countries. Spearheaded by Elon Musk, Starlink is a network of satellites that promises to provide high-speed, low-cost internet access to remote and underserved areas. Although SpaceX only
Kenya-based climate-tech startup Amini has raised $4 million in a seed funding round led by Salesforce Ventures and the Female Founders Fund. Solving Africa’s Environmental Data Gap Amini focuses on solving Africa’s environmental data gap through AI and satellite technology. Founded by Kate Kallot, Amini has developed a holistic solution. It utilizes AI and space technologies at scale to drive systemic change and promote economic inclusivity for farmers and supply chain resilience across Africa. By fixing Africa’s data gap, they want to make it a more prosperous, equitable, and safe
Albantsho, the first screenwriting tool created by African screenwriters for African screenwriters, has launched its first feature – The Scriptwriter. Albantsho Julie Ako and Nikita Mokgware from Nigeria and Botswana founded Albantsho in 2020. Their goal is to showcase the potential of African storytelling, foster authentic content representative of Africa, and empower creatives. With growing global investment in motion pictures in Africa, a higher demand is placed on authentic stories from diverse voices. Albantsho is a movement, and they’ve charged themselves with finding bold new narratives of Africa by Africans
Blockchain research and development lab Polytope Labs aims to transform Africans from consumers to creators in the blockchain space. Founded by Nigerian engineers Seun Lanlege and David Salami, Polytope Labs’ first product is Hyperbridge, a cross-chain protocol designed to facilitate secure communication between blockchains. Africa’s Crypto Adoption and Consumption African countries have some of the highest rates of grassroots crypto adoption among everyday people. However, the continent has mostly been a consumer rather than a builder of blockchain technology. Lanlege drew on his experience of helping to build the Ethereum and Polkadot networks to establish Polytope Labs with David
Waspito, a Cameroonian health startup, has secured a $2.5 million seed extension, helping its growth in Francophone African regions. Waspito Waspito is a health-focused social network that aims to integrate the whole health ecosystem into a single platform. Instead of building a platform involving pre-registration and booking consultation meetings, founder Jean Lobe Lobe opted for one where users could instantly connect with doctors. Lobe founded the startup in 2020, just before the COVID pandemic became a global health emergency, aiming to make healthcare accessible. “Going online to book an appointment
Nigerian venture capital firm Aduna Capital has announced the launch of a $20 million fund to invest in Northern Nigeria startups and Africa. Aduna Capital Aduna Capital is a registered investment advisor startup with a new wealth management advisor experience. The firm provides investment management services where clients can utilize discretion in managing their accounts. This includes advice with various asset classes, including equity, mutual funds, exchange-traded funds, fixed-income instruments, and options. Specifically, the client grants the firm full power to direct, manage, and change the investment and reinvestment of
Shekel Mobility, a B2B marketplace and management system for auto dealers, has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt. Small and medium-scale dealerships comprise nearly 82% of the African car dealership market, according to Benjamindada.com. Many of these dealers struggle with offering affordable prices for used cars due to insufficient financing options. In most sub-Saharan Africa, the figure for automotive transactions is less than 2%. Shekel Mobility aims to change that. Shekel Mobility Shekel Mobility empowers auto dealerships to realize
A Kenyan High Court has reportedly granted the Asset Recovery Agency’s (ARA) request to drop its final lawsuit against Flutterware, a Nigerian payment company. A Re-Run Of Flutterwave To Date Flutterwave was founded in 2016 and achieved unicorn status in 2021, leaving it valued at $3 billion by February 2022. This made the company the most valuable African startup before facing several allegations and reports of the CEO Olugbenga Agboola bullying and harassing staff. There were also allegations that Agboola illegally exploited assets, participated in financial impropriety, and operated without
