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10 - 12 - 2018

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Nigerian logistics startup Kobo360 has raised $6 million in seed funding in a round led by the IFC. Other investors are YCombinator, WTI, Cardinal Stone Partners, Chandaria Capital, and TLcom. The startup, launched in July 2016, also raised $1.2 million in a pre-seed round back in July.

Nigerian mobile money startup Paga now has 11 million unique users. Per this blog post making the announcement, the company has also been adding new users at an increased pace: it took 141 days to go from 8 million to 9 million users, 79 days to go from 9 million to 10 million users, and 37 days to go from 10 million to 11 million users.

Paystack CEO Shola Akinlade said the Nigerian payments startup is growing (its transaction volumes/merchant base?) by 20% month-on-month, per this tweet from Quartz Africa Editor Yinka Adegoke. Shola also reckons the startup has "barely scratched the surface.”

South African telco Telkom had a countrywide network downtime on Friday due to an issue with one of its service routers. My Broadband has more.

Uber has raised prices in South Africa by 5% on its UberX and UberXL tiers, Hypertext Africa reports. Per the report, Uber is making the increase on the back of "in-depth earnings reviews" for its drivers.

Egyptian healthtech startup Vezeeta has raised a new, undisclosed investment from the International Finance Corporation (IFC), per Ventureburn. It also closed a $12-million Series C funding round led by Saudi-based STV less than three months ago.

Econet-owned Liquid telecom has announced that it will invest $400 million in Egypt over the next three years via a partnership with Telecom Egypt. Following an initial investment of $50m in data centres and cloud services, Liquid Telecom plans to invest an additional $350m in broadband and financial inclusion initiatives, as well as high capacity data centres.

Fresh out of the Google Launchpad Africa accelerator, South African insurtech startup Pineapple has been accepted into the US based Hartford InsurTech Hub, powered by StartupBootcamp.

UN Women, the African Union and the UN's Economic Commission for Africa have launched the African Women Leadership Fund. The fund will work with and support women-owned and run fund management companies, as well as women-focused impact funds. Learn more here.

"The Quiet Rise in Demand For Blockchain Devs" by Solomon Osadolo, for Andela's blog.

TechCrunch is headed to Lagos to host its second Startup Battlefield Africa competition tomorrow! Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs are invited to attend this year's TechCrunch Startup Battlefield Africa. Don't miss it.

From TechCabal

+ Here’s Everything You Missed From Our Fintech 2.0 Event With Softcom + A Guide To Understanding Consumer Logistics In Africa

All Done.

Have a great week ahead. We'll see you tomorrow.   - Akindare.
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