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TechCabal Daily – Nigeria’s Third Largest City is Fast Becoming the New Bike-Hailing Battleground

6th March 2020

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TOGETHER WITH FLUTTERWAVE

06 – 03 – 2020

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You can now trade on one of the world’s largest trading platforms for a much smaller fee. Deposit up to 18,000,000 NGN on Binance at a flat fee of just 150 NGN via bank transfer. Click here to start trading.

As part of efforts to diversify its portfolio of education products, SA-based Snapplify has acquired media hub, Onnie Media. Snapplify which provides a marketplace for digital education content used the $2 million it raised from Knife Capital last year to fund the acquisition, according to a report by Disrupt Africa. Onnie Media is reportedly South Africa’s largest independent online teacher community that provides resources and career services to teachers. The acquisition will help Snapplify deepen its offering for teachers.

VFD Group, a Nigerian financial services-focused investment firm has launched a digital banking platform called V. The platform will operate using its microfinance bank license. The VFD Group owns the VFD Microfinance Bank and a bureau de change, among other companies. The VFD Groups joins Kuda and Rubies, two digital banks that are currently on the market. There’s been a rise in digital banks in Nigeria within the past one year.

Join our Fintech 3.0 townhall in Lagos on investment and digital banking. The event holds in July 2020. Fill in this form so we can let you know when ticket sales go live.

Despite robust funding, the Lagos state government’s decision to ban motorcycles ended bike hailing in the state. While some bike-hailing startups are in cities like Enugu, Akure and Ilorin, there is the sense that some of these cities are not big enough to deliver numbers and revenue. Nigeria’s third largest city Ibadan has a population of 3 million people and is fast becoming the new battleground for bike hailing services. Muyiwa visited Ibadan on Monday and tells us why bike-hailing startups are moving to Ibadan.

Founded by Wossen Ayele and Yacob Berhane, two venture-building consultants formerly based in the US, Pariti wants to help answer the questions that bother entrepreneurs including; How do you hire? Should you constitute a board? When should you raise external funds? Pariti is a technology platform that connects freelancers to new African businesses in need of advisory services. The startup is currently raising an angel round of $250,000 at the moment, with some Japanese investors and high networth individuals from around the world participating. Alex dives into the company and its business model, for TechCabal.

Last Friday at our Emerging Tech Townhall, the question of skill availability, readiness and use cases both current and potential for emerging technologies like artificial intelligence, blockchain technology, virtual reality/extended reality (VR/XR) were at the center of conversations. It wasn’t all serious stuff. There was plenty to eat and ample networking opportunities. Kay gives you the low down incase you missed it.

Our next townhall is in April and this time we’re going to Nairobi. It’s going to be about Agritech and Logistics. Want to join us in Nairobi? Let us know here.

Algerian ride-hailing startup, TemTem has launched a car-pooling startup in the North Africa region. The startup did this in partnership with French car-pooling company, Karos. This is the first time Karos is rolling out its service in Africa. While the service is less than a month-old in Algeria, it already has about 20,000 users. TemTem is arguably Algeria’s leading ride-hailing service, it closed a $4 million Series A funding round in September 2019.

That’s all we’ve got,

See you tomorrow

– Olanrewaju

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