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TechCabal Daily – Fintech Startup, Chipper Cash has now Raised $8.4 Million in Seed Funding

18th December 2019

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TOGETHER WITH AFROBYTES AND FLUTTERWAVE

18 – 12 – 2019

Hi there! Thank you for joining the midweek edition of TC Daily. Please take a moment to subscribe if you haven’t. Also, join us on Telegram. Don’t miss out on all the tech news and analysis on digital innovations from around the continent!

The countdown to Afrobytes 2020 is on. Afrobytes is the premier event that brings together entrepreneurs, innovators, investors, and more to explore business opportunities between the African tech ecosystem and players in the global tech world. Here are key reasons why you should attend Afrobytes 2020:

  • Finance: pitch world-leading Africa-focused tech funds
  • Network: connect with global companies and African tech leaders
  • Scale: find tech partners at the largest startup campus
  • Feature: talk to international media covering African markets

Get your early bird ticket here

If you are a developer looking for a job in Nigeria, you are most likely to get one expecting you to resume in a physical office on most days of the week. According to the “State of Code Jobs“, a report by talent company, Devcenter, more than half of the jobs employers post require physical presence at the office. Out of the 3,000 postings on Devcenter’s jobs platform, Gigson, 91% of them were based in Lagos. Alex has all the deets here.

In May, fintech startup, Chipper Cash closed a $2.4 million seed round led by 500 Startups and Liquid 2 Ventures. The startup has now extended the round by raising an additional $6 million, bringing its total seed round to $8.4 million. The new round is led by Deciens Capital and Chipper Cash will use the money to grow its team as well as launch in new geographic areas. The San-Francisco-based startup is presently in six African countries including Ghana, Uganda, Nigeria, Tanzania, Rwanda, and Kenya. It is now looking to extend its mobile-based, no fee, P2P payment services into Southern Africa in 2020. Chipper Cash’s latest funding round brings the total amount invested in Africa-focused fintech within the last one month to at least $388.4 million.

An Angel is Born! The first university-based angel investor network in the MENA region has launched. AUC Angels was formed in partnership with the Venture Lab at the American University in Cairo. The network has 65 members and has made 8 investments. Its portfolio companies include cleaning services startup, Jinni and dental supplies marketplace, DentaCarts.

A MESSAGE FROM OUR PARTNER

MallforAfrica provides a platform for Africans to purchase items directly from international online retailers – companies that, otherwise, would be inaccessible to the African population. By powering MallforAfrica’s payments, Flutterwave gives users access to hundreds of US and UK e-commerce retailers and more than 8.5 billion products combined.

Start shopping here.

Seedstars and the International Organisation of Employers (IOE) have announced the 10 startups that will pitch at the Migration Challenge Start-up Competition holding in January 2020 in Ecuador. The selected startups include 5 African startups namely Mauritius’ Talenteum, South Africa’s Digemy, Kenya’s M-Shule, South Africa’s Maxicash and Rwanda’s BAG Innovation. The competition focuses on startups providing innovative solutions to the information divide between employers and migrants through skills and technology.

Vodacom Tanzania and WorldRemit have struck a partnership that will enable M-Pesa’s customers to receive money directly to their wallets from abroad. Last week, Visa and MFS Africa also announced a similar partnership. Visa is looking to help 180 million mobile wallets on the continent get access to online digital payments. On its own part, Vodacom Tanzania says its partnership with WorldRemit will drive down the cost of sending money to Tanzania and enable recipients in some of the most remote locations to receive money from abroad in seconds.

Following its participation in the second cohort of GreenHouse Lab’s female-focused accelerator programme, Gricd has emerged winner of the GreenHouse Lab demo day. The startup beat nine others to win the prize of 1 million ($2,800). Gricd provides cold storage solutions for preserving agriculture and healthcare products in locations without power infrastructure. “We wanted to see how we could leverage this technology to keep vegetables fresh for longer periods …”, Oghenetega Iortim, Gricd’s CEO told TechCabal in this #MyLifeinTech entry. Gricd was part of the inaugural cohort of Facebook’s FbStart Accelerator.

Another TechCabal Townhall is here!
The next TechCabal townhall holds on February 28, 2020

What’s next townhall about?
Emerging technologies including 5G, Artificial Intelligence, Augmented Reality/Virtual Reality, Cryptocurrencies, Robotics and 3D Printing. TC Townhall: Emerging Tech will examine how these technologies are changing (and will change) how Africans live and do business. From financial institutions to entrepreneurs, investors and even regulators, TC Townhall: Emerging Tech will bring together everybody that matters in for this conversation.

Want to attend?
Indicate interest by filling this form. Are you a member of the press, fill this form to qualify for a pass. Do you have a startup or project with any of these technologies at the core? Tell us about your project or startup here.

Got any startup or tech leader you would like to hear speak at TC Townhall: Emerging Tech? Have any ideas or suggestions about the event? Send us an email via team@techcabal.com and we just might make your wish come true. For sponsorship inquiries, please email Chidi via chidi@bigcabal.com.



Finally…

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Au revoir,
We’ll see you tomorrow

– Olanrewaju

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