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Flextock is a YC-backed e-commerce fulfillment provider for Africa and the Middle East

When merchants launch their e-commerce businesses, they can easily manage the end-to-end operations in the early stages. But as they begin to grow, managing their own operations, from warehousing and logistics to delivery and cash collection, can become difficult. This  can prevent them from scaling effectively despite having a steady inflow of demand . Now, there’s a need to offload some of this workload. This is where e-commerce fulfillment services come in handy. Today, Flexto...
Tags: Startups, TC, Ecommerce, Uber, Saudi Arabia, Africa, Tech, E-commerce, Egypt, Middle East, Logistics, Nestle, Mena, North Africa, Bain Company, Odoo


Nigerian founders-turn-investors are now running syndicate funds

The Future Africa Fund kicked off in 2015 when Iyinoluwa Aboyeji and Nadayar Enegesi, co-founders of US-based and African-focused talent company Andela, wrote checks to African startups as angel investors . This continued even as Aboyeji joined and left Flutterwave, the fintech company he co-founded . In January 2020, the pair made the fund official, with Aboyeji as general partner and Enegesi as limited partner . Simultaneously , they announced that the fund had invested $1.5 millio...
Tags: TC, Nigeria, Africa, US, Tech, Washington Dc, Lagos, Nairobi, London New York, Njoku, Andela, Babak Nivi, Flutterwave, Iyinoluwa Aboyeji, Paystack, Iyin


Bitcoin staged an epic rally in February. Here is a look back at its record-setting month.

Reuters February was a record-breaking month for the world's most popular currency. Bitcoin's price jumped more than 50%, hit a $1 trillion market cap, and smashed above the $58,000-level. Insider takes a look back at what is likely to be remembered as a historic month for the world's most popular cryptocurrency.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin had a momentous run in February, from catapulting to a market capitalization of $1 trillion to s...
Tags: Apple, Elon Musk, Microsoft, Jay Z, India, New York City, Africa, US, America, Trends, Markets, Tesla, European Central Bank, Bitcoin, Square, Janet Yellen


Bitcoin staged an epic rally in February. Here's a look back at its record-setting month.

Reuters February was a record-breaking month for the world's most popular currency. Bitcoin's price jumped more than 50%, hit a $1 trillion market cap, and smashed above the $58,000-level. Insider takes a look back at what is likely to be remembered as a historic month for the world's most popular cryptocurrency.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin had a momentous run in February, from catapulting to a market capitalization of $1 trillion to s...
Tags: Apple, Elon Musk, Microsoft, Jay Z, India, New York City, Africa, US, America, Trends, Markets, Tesla, European Central Bank, Bitcoin, Square, Janet Yellen


Jumia co-CEO Jeremy Hodara talks African e-commerce, and his company’s path to profitability

This month, African e-commerce giant Jumia released its second full-year financials for Q4 and its fiscal year 2020 . The results were mixed — active customers and gross profit increased, while orders and gross merchandise volume (GMV) fell . A particular feature that has troubled the company since its inception in 2012 was also present, namely persistent adjusted EBITDA and operating losses . However , those metrics fell year over year, and the company, in a statement, said t...
Tags: TC, Ecommerce, Nigeria, Africa, Tech, E-commerce, Earnings, MTN, Citron, KPI, Jumia, Andrew Left, Jeremy Hodara, Jumia Nigeria, Juliet Anammah, Jumia Group


Stitch emerges from stealth with $4M for its API fintech play in Africa

Over the years, there has been a growing trend of fintech infrastructure players around the world . In Africa, a handful of startups have launched in the past three years to provide such services. Stitch, a South African fintech startup, is one of them and today, it is coming out of stealth and announcing its seed round of $4 million. This makes it the largest round raised by any API fintech startup in Africa at the moment. Founded by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay, Stitch...
Tags: Startups, TC, Asia, Europe, UK, London, Sweden, Funding, Nigeria, Africa, US, San Francisco, Tech, West, South Africa, Kenya


Jumia narrows losses, as its payment service grows in financial results

After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020 . Backing that claim, Jumia reported record gross profit and some improvements to its cost structure. The company wrote in its earnings release that while “2020 has been a challenging year operationally with COVID-19 related supply and logistics disruption,” it had also proven “transformative” for its business model. Let’s examine its financial results to see how Jumia fa...
Tags: TC, Ecommerce, Africa, Tech, Tanzania, Nyse, EBITDA, GAAP, Jumia, Andrew Left, General and Administrative, Fintech Jumia, Citron Research What, Cameroon Rwanda


9 essentials for staying healthy while traveling, from a sterilizer wand to a muscle stimulator to improve circulation

Taking proper precautions while traveling is vital in helping prevent contracting a virus like COVID-19. Innovative tech like portable water filters or wand sterilizers can help make any trip a much safe experience.  Below, we've rounded up 9 essentials everyone should pack in their suitcase or carry-on for healthy travel. Table of Contents: Masthead Sticky Travel isn't what it used to be. Not only has the pandemic severely restricted what has become the world's favorite pastime, but it's also c...
Tags: Travel, Reviews, Health, Europe, Fcc, Youtube, Africa, US, Trends, Tech, Best, Features, New Zealand, South America, Fda, Anthropologie


Area 120 is beginning to use Google’s massive reach to scale HTML5 GameSnacks platform

Hundreds of millions of users, especially in developing markets, don’t own high-end smartphones and can’t afford fast data plans to enjoy much of anything on the web. Google has been exploring multiple ways to better serve this segment of the user base. It has tried partnerships to make the internet more affordable to tens of millions of users. It has worked with smartphone makers to bring reliable Android experience to cheap smartphones. In fact, it’s currently working on a project with telecom...
Tags: Google, Gaming, Facebook, Apps, Asia, Games, Game, India, Africa, Tech, United States, Html5, Mohan, MTN Group, Gamezop, Area 120


South African digital bank TymeBank lands $109M from UK and Philippines investors

The onset of the pandemic has led to increased demand across customer income groups around the world for digital banking options. We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. This time, a startup from Africa has joined the party. TymeBank, a South African digital bank, announced today that it has secured an R1.6 billion (~$109 million) investment from new investors in the UK and Philippines. The company made this known via a statement. ...
Tags: TC, UK, Singapore, Nigeria, Africa, Tech, South Africa, Philippines, Nubank, Kuda, Patrice Motsepe, Apis Partners, Tymebank, Zolve, Gokongwei, JG Summit Holdings


Spain is already a prime cybersecurity and cloud market for Google, which has just teamed up with BBVA to predict cyberattacks on the bank

This is an automated machine translation of an article published by Business Insider in a different language. Machine translations can generate errors or inaccuracies; we will continue the work to improve these translations. You can find the original version here.The potential for cybersecurity in Spain is huge, and Google is aware of it.The search engine multinational announced a few weeks ago that it would open a cybersecurity center of excellence in Malaga, precisely where Bernardo Quintero, ...
Tags: Apple, Google, Europe, Florida, Africa, Trends, Spain, European Commission, Idc, Málaga, Bbva, Europe Middle East, Chronicle, Garrido, CISO, BI International


Spotify Expands To 80 New Markets, Targeting 1 Billion Customers

Spotify is introducing its audio service in 80 markets across Asia, Africa and the Caribbean in coming days, expanding the company's potential market by some 1 billion people. From a report: The steps announced Monday will nearly double Spotify's geographic footprint and add regions where streaming music is in its infancy. The company already operates in 93 countries or territories. Spotify is seeking to build on its head start as the leading audio service in the West to become the dominant play...
Tags: Google, Asia, Spotify, Africa, Tech, Netflix, West, Middle East, Latin America, Caribbean, Stockholm, Asia Africa, India Nigeria South Korea


Spotify to expand international footprint across 85 new markets

Over the next few days, Spotify will be launching its service in 85 new markets, and will also roll out 36 new languages on the platform. The news was announced at its online event, “Stream On” today. The expansion includes markets across Africa, Asia, Europe, Latin America and the Caribbean. Combined, these markets include more than a billion people. With these launches, Spotify says “sounds and stories that once remained local will have access to a global audience of fans across nearly 180...
Tags: TC, Asia, Spotify, Africa, Tech, Zimbabwe, Latin America, Caribbean, Nevis St Lucia St Vincent, Alex Norstrom Spotify, Amapiano, Spotify HiFi, Africa Asia Europe Latin America, Angola Antigua, Tobago Tuvalu Uganda Uzbekistan Vanuatu Zambia


Fostering innovation in the Middle East, Turkey and Africa

As part of our continuous effort to support the news industry around the world, we are launching our second Google News Initiative Innovation Challenge in the Middle East, Turkey and Africa. It’s an open call for projects that increase reader engagement and explore new business models to build a stronger future for journalism.Last year, we selected 21 projects from 13 countries: Israel, Lebanon, Morocco, Jordan, UAE, Iraq, Turkey, Côte d'Ivoire, Kenya, South Africa, Rwanda, Nigeria and Ghana. In...
Tags: Google, Africa, South Africa, Jordan, Ghana, Daily Maverick, Middle East Turkey, Ludovic Blecher, Google in Africa, Google News Initiative, Google News Initiative Innovation Challenge, Google in the Middle East


Omnicom’s optimism, Lexus’ (literally) playful marketing stunt, and Ted Cruz, flight risk: Friday Wake-Up Call

Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you’re reading this online or in a forwarded email, here’s the link to sign up for our Wake-Up Call newsletters. Omnicom’s optimism “We fully expect to return to positive organic growth in the second quarter and the balance of the year.” That’s what Omnicom CEO John Wren told analysts on Thursday in an earnings call, Ad Age’s Judann Pollack reports. The context for that statement, also f...
Tags: Google, Facebook, Texas, Buzzfeed, Congress, Washington, Mexico, Africa, Advertising, Bloomberg, House, Ted Cruz, Middle East, Dallas, Toyota, Sam


How Antler East Africa is building early-stage startups with experienced professionals

Antler is an early-stage venture capital firm which can also be described as a “company builder.”   It helps founders build complementary co-founding teams, provides support with deep business model validation and a global platform for scaling their businesses . To date, Antler has invested in and helped build over 250 companies. Of these companies, 40% have at least one female co-founder, and the founders represent more than 70 nationalities . Founded in 2017 by serial entreprene...
Tags: Nigeria, Africa, Tech, Korea, Sony, Ethiopia, Kenya, Nielsen, Cto, Fmcg, Addis Ababa, Schroders, Nairobi, Lagos Nigeria, McKinsey Company, Pesa


With over 1.3 million users, Nigerian-based fintech FairMoney wants to replicate growth in India

There are over 1.7 billion underbanked people globally, the majority of which are from emerging markets. For them, accessing loans can be difficult, which is a problem fintechs try to solve. One way they do this is by promoting financial inclusion by underwriting credit via a proprietary algorithm. One such company is FairMoney, which describes itself as “the mobile banking revolution for emerging markets.” FairMoney, founded by Laurin Hainy, Matthieu Gendreau and Nicolas Berthozat, is a license...
Tags: Startups, TC, Asia, UK, Sweden, Microsoft, Indonesia, Mexico, Finance, Germany, India, Nigeria, Africa, Tech, Paris, Brazil


Supporting small businesses around the world

Small businesses are the backbone of the global economy and at the core of many of Google’s tools, services and products. So when the pandemic hit last year, we announced a $200 million investment fund as part of our $800+ million commitment to support small businesses in the face of COVID-19.We set out to partner with organizations who share our desire to empower small businesses in underserved communities, which are often overlooked by traditional lenders.  In the U.S. we are partnering with O...
Tags: Google, Europe, Small Business, Indonesia, India, Africa, Israel, Eu, Middle East, European Commission, Kiva, Latin America, Dayton Ohio, Inter American Development Bank, EIF, European Fund for Strategic Investments EFSI


Archaeologists Find the Earliest Work of “Abstract Art,” Dating Back 73,000 Years

Image by C. Foster Art, as we understand the term, is an activity unique to homo sapiens and perhaps some of our early hominid cousins. This much we know. But the matter of when early humans began making art is less certain. Until recently, it was thought that the earliest prehistoric art dated back some 40,000 years, to cave drawings found in Indonesia and Spain. Not coincidentally, this is also when archaeologists believed early humans mastered symbolic thought. New finds, however, have shift...
Tags: Google, Art, Indonesia, College, Life, Africa, Spain, History, South Africa, New York Times, Johannesburg, Lascaux, Picasso, Haaretz, Facebook Twitter, University of Bergen


There have been zero reported US drone strikes since Joe Biden took office

A Yemeni boy walks past a mural depicting a US drone on December 13, 2013 in the capital Sanaa. MOHAMMED HUWAIS/AFP via Getty Images Since Joe Biden took office, there have no reports of US drone strikes or civilian casualties. This comes after Trump carried out more strikes in Somalia and Yemen than all other presidents combined. "If there is a pause in airstrikes overall, we hope it's due to a reassessment of the United States' strategy," said Amnesty International's Daphne Eviator. Visi...
Tags: Politics, Obama, Washington, White House, Iraq, Africa, US, Barack Obama, Trends, Joe Biden, United States, Taliban, Drones, Pakistan, Amnesty International, US Senate


Japan’s Uncovered Fund launches $15M fund to back early-stage startups in Africa

Uncovered Fund, a VC firm targeting early-stage startups in Africa, announced today that it has launched its $15 million fund which is expected to close at the end of June this year. The Tokyo-based outfit founded by Takuma Terakubo in 2019 will invest $50,000 to $500,000 in African startups in seed and Series A stages. Before Uncovered Fund, Terakubo was the CEO of Leapfrog Ventures. Together with Japanese startup incubator, Samurai Incubate, they launched Samurai Incubate Fund; a fund fo...
Tags: Startups, TC, Japan, Funding, Nigeria, Africa, US, Tech, South Africa, Venture Capital, Tokyo, Yc, Sherpa Ventures, Kenya Nigeria, Sky Garden, Francophone Africa


Daily Crunch: Jack Dorsey and Jay Z invest in bitcoin development

Jack Dorsey and Jay Z create a bitcoin endowment, Datadog acquires a Startup Battlefield company and BuzzFeed experiments with AI-generated quizzes. This is your Daily Crunch for February 12, 2021. Oh, and before we get started: Consider applying to the Early Stage pitch off and submitting a pitch deck for feedback on Extra Crunch Live! The big story: Jack Dorsey and Jay Z invest in bitcoin development The Twitter founder and rapper/entrepreneur have put 500 bitcoin (currently worth more than ...
Tags: TC, Sweden, Minneapolis, Jay Z, France, India, Nigeria, Africa, Tech, Bitcoin, Dyson, Jack Dorsey, Jay, Kevin Busque, Datadog, Dorsey


Jack Dorsey and Jay Z invest 500 BTC to make Bitcoin ‘internet’s currency’

Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up as a blind irrevocable trust, Dorsey said, adding that the duo won’t be giving any direction to the team. ₿trust is looking to hire three board members. The mission of the fund is to “make bitcoin the internet’s cur...
Tags: Jay Z, China, India, Nigeria, Africa, US, America, Tech, Tesla, Jack Dorsey, New Delhi, Jay, Btc, Cnbc, Dorsey, Balaji Srinivasan


Jack Dorsey and Jay Z invest $23.6 million to fund Bitcoin development

Twitter and Square CEO Jack Dorsey and rapper Jay Z have created an endowment to fund bitcoin development initially in Africa and India, Dorsey said Friday. The duo is putting 500 bitcoin, which is currently worth $23.6 million, in the endowment called ₿trust. The fund will be set up as a blind irrevocable trust, Dorsey said, adding that the duo won’t be giving any direction to the team. ₿trust is looking to hire three board members. The mission of the fund is to “make bitcoin the internet’s cur...
Tags: Jay Z, China, India, Nigeria, Africa, US, America, Tech, Tesla, Jack Dorsey, New Delhi, Jay, Cnbc, Dorsey, Balaji Srinivasan, Central Bank of Kenya


How African startups raised investments in 2020

The venture capital scene in Africa has consistently grown, with an influx of capital from local and international investors reaching unprecedented heights in recent years. To understand how much growth has occurred, African startups raised a meagre $400 million in 2015 compared to the $2 billion that came into the continent in 2019, according to Africa-focused fund Partech Africa. However, that figure isn’t the only yardstick. With other outlets like media publications WeeTracker and Dis...
Tags: Startups, TC, Funding, Nigeria, Africa, US, Tech, Senegal, Egypt, South Africa, Kenya, Ivory Coast, Giuliani, Cleantech, Fintech, Mauritius


South African VC firm Knife Capital gets first commitment for its $50M fund, to invest in 10-12 Series B rounds

Knife Capital, a South African venture capital firm, is raising a $50 million fund for startups looking to raise Series B financing. With Knife Fund III called the African Series B Expansion Fund, the firm seeks to directly invest in the aggressive expansion of South African breakout companies. It also plans to co-invest in companies across the rest of Africa. The first fund, known as Knife Capital Fund I or HBD Venture Capital, was a closed private equity fund managed by Eben van Heerden and K...
Tags: Africa, Tech, CIO, South Africa, Mic, Naspers Foundry, Keet van Zyl, Knife Capital, HBD Venture Capital, Eben van Heerden, Andrea Bohmert, DataProphet, Europe Bohmert, Bohmert, Mineworkers Investment Company MIC


Pngme, a financial data platform, closes $3M seed to accelerate growth in Sub-Saharan Africa

Since M-Pesa’s mobile money infrastructure came into play in 2007, there has been a proliferation of fintech services ranging from wallets to savings and loans . With this mobile money ecosystem growing in double-digits year-on-year, a lot of data is being created in the process . But this has left some fragmentation, where one person’s information is diverse and can be accessed via multiple channels .  For banks and financial institutions, it becomes difficult to understand an...
Tags: Startups, TC, Finance, Nigeria, Africa, Tech, Kenya, Tanzania, Coo, Sdk, Lagos, East Africa, Nairobi, Toronto Canada, Saharan Africa, Sub Saharan Africa


Labster gets millions from a16z to bring virtual science lab software to the world

Andreessen Horowitz, a venture capital firm with $16.5 billion in assets under management, has poured millions into an edtech startup that sells virtual STEM lab simulations to institutions. Copenhagen-based Labster, which sells virtual science laboratory simulations to schools, announced today that it has raised $60 million in a Series C round led by the prominent Silicon Valley firm, including participation from existing investors GGV Capital, Owl Ventures and Balderton Capital. Labster has no...
Tags: Startups, TC, Asia, Education, Africa, Tech, Vr, Virtual Reality, Denmark, Silicon Valley, Andreessen Horowitz, Copenhagen, Edtech, Latin America, Jensen, California Community College


Nigeria’s IROKO plans to go public on the London Stock Exchange AIM in 2022

IROKO, a Nigerian-based media company, could file to go public in the next 12 months on the London Stock Exchange (LSE) Alternative Investment Market . Founded by Jason Njoku and Bastian Gotter in 2011, IROKO boasts the largest online catalog of Nollywood film content globally . According to this report, the media company will raise between $20 million and $30 million valuing the company at $80 million to $100 million .  In October 2019, Njoku hinted that the company was going public...
Tags: Fundings & Exits, TC, Entertainment, Ipo, Nigeria, Africa, Tech, London Stock Exchange, Canal, Nollywood, Asos, Lse, Gvc, Exit, Stock Exchange, Vivendi


Fossil Fuels Caused 8.7 Million Deaths Globally in 2018, Research Finds

Air pollution caused by the burning of fossil fuels such as coal and oil was responsible for 8.7 million deaths globally in 2018, a staggering one in five of all people who died that year, new research has found. From a report: Countries with the most prodigious consumption of fossil fuels to power factories, homes and vehicles are suffering the highest death tolls, with the study finding more than one in 10 deaths in both the US and Europe were caused by the resulting pollution, along with near...
Tags: Asia, Europe, China, Africa, US, Tech, South America, University College London, Eloise Marais



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