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. […]

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 […]

WorldCover raises $6M round for emerging markets’ climate insurance

WorldCover, a New York and Africa-based climate insurance provider to smallholder farmers, has raised a $6 million Series A round led by MS&AD Ventures. Y Combinator, Western Technology Investment and EchoVC also participated in the round. WorldCover’s platform uses satellite imagery, on-ground sensors, mobile phones and data analytics to create insurance options for farmers whose […]

Africa Roundup: Jumia files for IPO, OneFi acquires Amplify, FlexClub expands in Mexico

Less than a decade ago IPOs, acquisitions and global expansion by African startups were more possibility than reality. March saw all three from the continent’s tech scene. Pan-African e-commerce company Jumia filed for an IPO on the New York Stock Exchange, per SEC documents and confirmation from chief executive Sacha Poignonnec. In an updated filing, […]

Dakar Network Angels begins startup investments in francophone Africa

The Dakar Network Angels group launched this month, making its first investment in francophone Africa to cleantech venture Coliba. The Ivorian startup — which uses a mobile app to coordinate waste recycling — will receive mentorship and a minimum of $25,000 in seed funds. The deal is part of Dakar Network Angels’ mission of convening […]

Nigeria’s Gloo.ng drops consumer e-commerce, pivots to e-procurement

Nigerian startup Gloo.ng is dropping consumer online retail and pivoting to B2B e-procurement with Gloopro as its new name. The Lagos-based venture has called it quits on e-commerce grocery services, shifting to a product that supplies large and medium corporates with everything from desks to toilet paper. Gloopro’s new platform will generate revenues on a […]

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 […]

Healthcare wearables level up with new moves from Apple and Alphabet

Announcements that Apple has partnered with Aetna health insurance on a new app leveraging data from its Apple Watch and reports that Verily — one of the health-focused subsidiaries of Google‘s parent company — Alphabet, is developing a shoe that can detect weight and movement, indicate increasing momentum around using data from wearables for clinical health applications and […]

Flutterwave and Visa launch African consumer payment service GetBarter

Jake Bright Contributor More posts by this contributor Harley Davidson reveals more about its push into electric vehicles Venture capital, global expansion, blockchain and drones characterize African tech in 2018 Fintech startup Flutterwave has partnered with Visa to launch a consumer payment product for Africa called GetBarter. The app based offering is aimed at facilitating personal and small […]