Y Combinator, a leading American seed money startup accelerator launched in March 2005, has reduced the ticket size of its investment in startups from $150,000 to 125,000. Despite the cut, the equity it takes in a startup still remains at 7%. The investment cut was announced by Y Combinator’s president…
Author: AdeO
Huawei Mobile Services (HMS) has collaborated with UnionPay to launch Huawei Pay in Thailand. Huawei Pay is a mobile payment tool that provides contactless, cashless payment service for HUAWEI device users. In Thailand, Industrial and Commercial Bank of China (Thai) Public Company Limited is the first bank to support this service. First introduced to…
The African Private Equity and Venture Capital Association (AVCA), the pan-African industry association which promotes and enables private investment in Africa, has released its inaugural report on VC, entitled Venture Capital in Africa: Mapping Africa’s Start-up Investment Landscape. The report analyses the exponential growth of VC in Africa over the…
SmartWage, a South African startup that partners with companies to give employees instant access to their earned salaries and wages, has raised $347000.00 to power the growth and expansion of its novel payday solution across South Africa. Co-founded by Simon Ellis, Alex Platt, and Nick Platt in 2019, SmartWage launched…
Google has announced the launch of ‘Google for Nonprofits’ in Nigeria aimed at empowering ‘not-for-profit’ organisations by providing them with free premium services. Titi Akinsanmi, Google’s Head, Government Affairs and Public Policy, West Africa, said in a statement that for organisations that qualify, Google for Nonprofits would give access to…
Access Bank has launched the second Womenpreneur Pitch-a-ton programme designed to create an enabling environment for female entrepreneurs to grow their businesses. The bank’s Group Head W Initiative, Ayona Aguele-Trimnell, said: “Access Bank has been a leading advocate for women’s economic empowerment in Nigeria and this is the key motivation…
In continuation of its efforts to reduce its environmental footprint, HP Inc. reaffirmed its commitment to eliminating 75 percent of single-use plastic packaging by 2025. The company restated the commitment in its just-released 2019 Sustainable Impact Report, which also highlights the progress HP is making to drive diversity and inclusion, as…
After announcing the launch of WhatsApp payment with pomp and pageantry over a week ago, Brazil’s Central Bank has suspended features in the country. In a statement, the central bank said that it had taken the decision to ensure competition in the payment system market. Bloomberg notes that the bank will…
Facebook announced that all its Economic Impact Programmes will be offered virtually as the platform seeks to equip small businesses with digital marketing skills to help them stay open, connect with and acquire new customers to survive challenges presented by Coronavirus. Facebook’s Economic Impact Programmes include Boost with Facebook currently implemented in…
Amazon has announced that it will be launching a $2 billion venture capital fund that will support companies building sustainable and decarbonizing technologies. The Climate Pledge Fund will invest in companies across a number of industries, including transportation and logistics, energy generation, manufacturing and food, and agriculture, among others, Amazon said.…
Three African startups have been selected for the 2020 Catalyst Fund 7th cohort of inclusive fintech startups. The African startups are WellaHealth and Flex Finance from Nigeria and PayMeNow from South Africa. These African startups will join 3 others from Mexico (Mango Life and Graviti) and India (KarmaLife). Catalyst Fund,…
Uber and Mastercard have partnered to provide free trips and meals to those supporting communities across the Middle East and Africa (MEA). As cases of coronavirus (COVID-19) continue to escalate, socio-economic community initiatives have become more important, as many people are unable to work and provide necessities for their families.…
From macOS Big Sur to iOS 14, iPadOS 14, watchOS 7, and tvOS 14, here are the biggest features announced at WWDC20. Apple kicked off its all-online Worldwide Developers on 22/06/2020 and it will run till Friday. The conference bringing together millions of developers and fans from across the globe…
Paymenow, a South African fintech startup has completed an initial equity investment round with ViaMedia for a $230,000 equity stake. Paymenow offers financial inclusivity through responsible early access to wages platform, enabled via a secure mobile app, developed specifically for the South African market. Paymenow uses gamification to drive financial…
Unity Bank Plc has forged a collaborative partnership with Dynamiss, a digital learning solutions provider, to provide low-interest credits to schools to boost access to digital learning resources. Under the partnership, a full e-learning package, comprising microsoft school portal, discounted Airtel data and free contents and devices powered by Dynamiss will…
Apple Worldwide Developers Conference (WWDC) will be held today albeit virtual. Normally if there is no coronavirus, Apple charges $1,600 asking price to attend. However, with COVID-19, this year’s WWDC will be held online. Of course, since Apple is one of the most innovative companies in the world, there is…
Softcom, a leading tech solutions firm, has launched a new initiative – HelpNow, to support Lagosians in need due to the impact of the COVID-19 pandemic via a platform set up to pair donors with beneficiaries who require support. HelpNow is a private sector-led collaboration that aims to provide support…
MoneyFellows, an Egyptian fintech startup, has secured $4 million in a Series A round from Partech and Egypt’s Sawari Ventures. MoneyFellows will use the latest investment to expand into Africa. The investment will also be used to consolidate MoneyFellows’ operations and market share across Egypt and unveil some new products…
As part of Mobiz’s recent capital raise, HAVAÍC has invested in the startup and joins Kalon Venture Partners as shareholders in Mobiz. The recent capital raise was to fund the company’s growth and restructure some of the shareholding. Mobiz has developed proprietary SmartSMS technology, which utilises standard SMS’s with embedded…
Facebook has announced that it will commit $200 million to Black-owned businesses and organizations. “The past few weeks have compelled us to confront the reality of violence and injustice which members of the Black community face on a daily basis,” Facebook COO Sheryl Sandberg wrote in a post announcing the company’s initiative. “We…