The ideal startup story involves entrepreneurs with the right ideas, bank-rolled to billion-dollar valuation by investors with deep pockets. While many tech startups look up to this formula, some explore alternative routes.
Nigeria-based OPay has closed a new $50 million funding round, the largest for any Nigerian tech startup so far in 2019. The company will use the new funding to deepen its roots in the Nigerian market for all its digital businesses including ORide and OFood. It also has plans to expand to other African markets.
Nigerian healthtech startup, MDaaS Global has secured a new $1 million seed round of funding as it prepares to replicate its innovation across different markets.
Digital micro-lending in Africa still faces challenges despite the amount of capital available and exit opportunities in the financial sector.
Compared to a lot of African governments, South Africa isn’t doing too bad as far as government-backed funding for tech businesses is concerned.
The money will be used to expand into more regions in SA