Q1 2023 marks the first quarter Jumia’s new management implemented its strategy after riding out the blueprint of previous management in Q4 2022. The result? Jumia saw its losses decrease significantly: adjusted EBITDA loss dropped 51% year-over-year to $27 million, ...
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Pale Blue Dot backs Amini, an African climate tech startup solving environmental data scarcity
BrightAmini, a Nairobi-based climate tech startup focused on solving Africa’s environmental data gap through artificial intelligence and satellite technology, has raised $2 million in a pre-seed funding round. Pale Blue Dot, the European climate-focused venture capital firm that announced a ...
Jia, a blockchain-based lender of small businesses in emerging markets, raises $4.3 million seed
BrightJia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 million seed funding, and an additional $1 million commitment for on-chain liquidity, in a round led by early-stage backer TCG Crypto, with participation ...
M-KOPA snaps up $250M+ debt, equity for its asset financing platform
BrightM-KOPA, the asset financing platform that offers underbanked African customers access to “productive assets” and the ability to pay for them via digital micropayments, has secured over $250 million in new funding. The capital injection includes $55 million in equity ...
Cold-chain startup Figorr raises $1.5M, backs the roll out of data-driven perishables insurance
BrightOghenetega Lortim built Nigerian-based cold chain startup Figorr after imagining better means of storage and transportation of temperature-sensitive products, following the post-harvest losses from his fresh agro-produce venture. Figorr (previously Gricd) runs IoT-powered solutions that provide businesses, especially those in ...
Confusion sets in as Meta content moderators go without pay
BrightContent moderators under Sama, Meta’s content review sub-contractor in Africa, earlier today picketed at the company’s headquarters in Kenya demanding April salary, while urging it to observe the court orders that barred it from conducting mass layoffs. The demonstrations came ...
Kenya’s Fingo partners with Ecobank, launches neobank on the back of $4M investment
BrightYesterday, Fingo, a YC-backed Kenyan fintech, launched its neobank, which it developed in collaboration with Pan-African financial institution Ecobank Kenya. The Ecobank subsidiary unveiled the neobank, the first of its kind in the East African country, according to the pair, ...
African payment service provider Nomba raises $30M, backed by Base10 Partners and Shopify
BrightNigerian payment service provider Nomba has raised $30 million in a pre-Series B investment to support the delivery of bespoke payment solutions for African businesses. The round, which values the company at $150 million+ according to YCombinator data on its ...
Smile Identity expands African footprint with acquisition of Appruve to strengthen ID verification services
BrightSmile Identity, a KYC compliance and ID verification partner for many African fintechs and businesses, has acquired Inclusive Innovations, the parent company of Appruve, a Ghanaian developer of identity verification software. In a statement shared with TechCrunch, Smile Identity said ...
Meta can be sued in Kenya over alleged unlawful sacking and blacklisting of moderators, court rules
BrightA Kenyan court has ruled that Meta can be sued in the East African country over alleged unlawful sacking and blacklisting of content moderators, and dismissed the social media giant’s application that sought to have the case thrown out. Meta ...