Africa Roundup: Jumia’s post-IPO earnings, Gokada’s $5.3M raise, Facebook’s fake-news purge, Joe Montana’s fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58% to €240 million. Marketplace revenue […]

Diving deep into Africa’s blossoming tech scene

Jumia may be the first startup you’ve heard of from Africa. But the e-commerce venture that recently listed on the NYSE is definitely not the first or last word in African tech. The continent has an expansive digital innovation scene, the components of which are intersecting rapidly across Africa’s 54 countries and 1.2 billion people. […]

Nigeria’s Gokada raises $5.3M round for its motorcycle ride-hail biz

In many large cities across Africa, motorcycle taxis are as common as yellow cabs in New York. That includes Lagos, Nigeria, where ride-hail startup Gokada has raised a $5.3 million Series A round to grow its two-wheel transit business. Gokada has trained and on-boarded more than 1,000 motorcycles and their pilots on its app that […]

These startups are locating in SF and Africa to win in global fintech

To become a global fintech player, locate your company in San Francisco and Africa. That’s the approach of payments company Flutterwave, digital lending startup Mines, and mobile-money venture Chipper Cash—Africa-founded ventures that maintain headquarters in San Francisco and operations in Africa to tap the best of both worlds in VC, developers, clients, and the frontier […]

Chipper Cash convinces Joe Montana to invest in African fintech

The African no-fee, cross-border payment startup Chipper Cash has raised a $2.4 million seed round led by Deciens Capital. The payments company also persuaded 500 Startups and Liquid 2 Ventures — co-founded by Joe Montana — to join the round. Chipper Cash’s Ugandan chief executive, Ham Serunjogi, pitched the U.S. football legend directly. “He was […]

Thunes raises $10M to make financial services more accessible in emerging markets

Cross-border fintech continues to be an area of interest for venture capitalists. The latest deal sees GGV Capital — the U.S-China firm that’s backed Xiaomi, Airbnb, Square and others — lead a $10 million investment in Singapore-based startup Thunes. Other investors in the Series A round are not being disclosed at this point. Thunes — […]

African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global […]

Partnering with Visa, emerging market lender Branch International raises $170 million

The San Francisco-based startup Branch International, which makes small personal loans in emerging markets, has raised $170 million and announced a partnership with Visa to offer virtual, pre-paid debit cards to Branch client networks in Africa, South-Asia and Latin America.  Branch — which has 150 employees in San Francisco, Lagos, Nairobi, Mexico City and Mumbai — […]

BRCK acquires ISPs EveryLayer and Surf to boost Africa’s public Wi-Fi

Jake Bright Contributor More posts by this contributor Africa Roundup: Zimbabwe’s net blackout, Partech’s $143M fund, Andela’s $100M raise, Flutterwave’s pivot Partech is doubling the size of its African venture fund to $143 million Kenyan communications hardware company BRCK has acquired the assets of Nairobi based internet provider Surf and its U.S. parent EveryLayer in a purchase deal of an undisclosed […]

Africa Roundup: Zimbabwe’s net blackout, Partech’s $143M fund, Andela’s $100M raise, Flutterwave’s pivot

Jake Bright Contributor More posts by this contributor Partech is doubling the size of its African venture fund to $143 million Zimbabwe’s government faces off against its tech community over internet restrictions A high court in Zimbabwe ended the government’s restrictions on internet and social media last month. After days of intermittent blackouts at the […]