Nigeria’s fintech startup Nomba secures $30M ahead of Series B 2 other stories and a trivia
This series of stories will help you discover the latest happenings around the tech world today
- Nigeria’s fintech startup, Nomba, secures $30 million before Series B
Nigerian Fintech startup, Nomba, which previously did business as Kudi, has announced it has raised a new USD 30 million pre-Series B funding round.
The round, which is expected to “support the delivery of tailored payment solutions for African businesses,” was announced in a press release seen by Ripples Nigeria on Wednesday.
Ripples Nigeria understood that the startup was co-founded by Yinka Adewale and Pelumi Aboluwarin in 2017.
Six years later, the startup claims to have evolved into a profitable, omnichannel payment service provider.
According to the startup, the new equity funding round was led by San Francisco-based Base10 Partners, with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.
Speaking about the essence of the fund, Nomba noted that it “will use the investment to deliver payment solutions that are designed for the specific services that businesses provide.
In addition, it will enable businesses to close gaps in their payment processes, while scaling up services to operate more efficiently and deliver excellent customer experiences.
“We see payments as a business model, not just a product, and we want to make it easier for businesses to take advantage of everything possible in their payments processes to support their continued growth and success,” Adewale said.
“We have a long list of products we’ve worked on, and the funds we’ve raised as well as the investors who’ve backed us give us a lot of confidence in what can be achieved with more efficient payment solutions in the hands of business owners.”
Tech Trivia: What are individual letters, numbers and symbols called?
- Sign
- Strings
- Pixels
- Bits
Answer: see the end of the post
- Global Cleantech Innovation Program opens application in Nigeria
A program designed to support cleantech innovation and entrepreneurship in emerging and developing economies, the Global Cleantech Innovation Programme, has opened applications for its latest program in Nigeria.
The organization issued the application in a statement on Wednesday, explaining that it offers to support individuals who are passionate about clean technologies.
According to the statement, the program will give priority to people with ideas that tackle climate change and have a positive impact on reducing global warming.
Ripple’s Nigeria found that the Global Cleantech Innovation Program (GCIP) Nigeria is accelerating the development of small and medium-sized enterprises (SMEs) that want to deploy cutting-edge cleantech products and services in developing economies.
The program is therefore expected to focus on Nigerian cleantech startups and SMEs working on exciting and disruptive solutions in key areas such as energy efficiency, renewable energy, waste utilisation, green buildings, transport and advanced materials and chemicals.
- Nigeria’s Treepz is relaunching the app as Africa’s largest car sharing marketplace
Nigeria’s mobility company, Treepz, has relaunched its consumer-facing app as a new offering for the African market.
The marketplace, according to the startup, in a statement, will allow car owners to rent out their vehicles for short to long-term periods, as well as provide a more affordable and sustainable option for mobility in Africa.
The startup noted that the launch was inspired by the growth of the industry as over 600 million Africans have been estimated to live in urban areas with less than 44 cars per 1,000 people.
Treepz’s car-sharing platform claims it is looking to meet the growing demand by letting people rent a car only when they need it and for flexible rental periods.
Analysts noted that the new scheme will help reduce traffic congestion and carbon emissions, leading to a more sustainable transport system.
However, there are concerns about whether the Treepz solution is sustainable and something the “shrinking” economies of Africa can accommodate.
Trivia Answer: Character
A character is any letter, number, space, punctuation mark, or symbol typed or typed into a computer. Some invisible characters are not represented on the screen but are still present to modify or format text, such as a tab or carriage return.
When using the ASCII character set, a single character takes up one byte of storage space. For example, the expression “Good afternoon!” is 15 characters long and will take up 15 bytes of storage space.
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