Flutterwave processed $1 billion in transactions in 2018
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Hello and welcome to the new week! Here is today’s round of TC Daily. Did someone forward this to you? Subscribe so you don’t miss out on this daily bit of goodness.
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| Flutterwave CEO and co-founder Gbenga “GB” Agboola published a blog post on what 2018 was like for the startup. Not-so-subtle-hint: it did good. The company saw 550% growth in the customer base of Flutterwave for Business (Rave) and its total processed value grew 401% from $205 million in 2017 to $1 billion in 2018. Its payments product Barter also grew processed transactions 1,571% from 1.6 million in 2017 to 27 million in 2018. Well done to them! |
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| Nigeria-based expense tracking and money management startup, Reach, has released its 2018: Year in Review Report in which it juxtaposes the spending habits of young Kenyans vs Nigerians. Per the report, young Nigerians carried out more taxi transactions (Uber & Taxify) than gasoline purchases at filling stations and Kenya is ahead of Nigeria in its adoption of cashless payments. ATMs aren’t in Kenya’s top 10. Conversely, 1 in 5 transactions by urban Nigerian millennials surveyed is an ATM withdrawal. Also, Paystack continues to capture a large share of e-commerce, appearing as the leading biller. Millennials surveyed are spending more frequently on Netflix than at cinemas. |
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| Former Nigerian minister of education, co-founder of Transparency International and presidential aspirant, Oby Ezekwesili, has been appointed to the global advisory board of Nexford University, an online university startup which uses AI to offer students a personalized learning experience. Nexford recently raised $4 million in funding and offers its programs in the US, Egypt, Nigeria and the Philippines. |
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| The Nerve Africa has published its #YellowWall list of “Africans That Should Inspire You In 2019“. The list includes Lifebank founder Temie Giwa-Tubosun, 19-year-old software engineering student in Addis Ababa University Betelhem Dassie and Ghanaian computer science teacher Richard Appiah Akoto. |
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| If you are in Kampala, Uganda and you are looking for restaurants with free WiFi, Dignited made a list. |
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| We have had to move our health tech town hall and public launch of our Nigerian health tech industry report, from Friday, January 18 to Friday, January 25. This became necessary because we needed some more time to confirm the attendance of public health officials/regulators at the event and panel sessions. Many schedules appeared to be conflicting with the previous date and we believe that achieving a balance of cohorts, entrepreneurs, investors and policymakers, at the event is critical if we are to go beyond talking and stimulating tangible outcomes based on the actionable insights that come out of the report and the event. You can still sign up here so we can notify you when registration goes live |
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All Done.
Have a great week ahead. We’ll see you tomorrow.
– Akindare.
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