Cordel Robbin-Coker - Afrikan Heroes

Carry1st Attracts $6m Funding for Africa Expansion

May 11, 2021

Cordel Robbin-Coker, co-founder and chief executive officer (CEO) of Carry1st

South Africa’s emerging mobile games startup, Carry1st which focuses on publishing platforms that enables global gaming studios to unlock the untapped African market, has raised US$6 million in Series A funding to help it scale further. Carry1st was launched in 2019 and based in Cape Town, Carry1st is a mobile games publisher serving the first generation of African smartphone users that has so far reached over 1.5 million users across the region.

The company provides a full stack publishing solution, handling distribution, localisation, user acquisition, marketing, customer experience, and monetisation for its partners. Carry1st’s Pay1st platform is an embedded fintech solution which consolidates the most well-adopted payment methods in six African countries, allowing customers to pay in their preferred way.

Carry1st raised a US$2.5 million seed round last year, and has now taken its total secured investment to US$9.5 million with its Series A raise. The US$6 million round was led by Colorado-based video game VC firm Konvoy Ventures, with participation from Riot Games, Raine Ventures, AET Fund / Akatsuki, and TTV Capital.

The startup will use the funding to secure new partnerships with global gaming studios, launch and scale its existing portfolio of games, and expand its product, engineering, and growth teams.

“We’re excited to partner with this world-class group of investors who, in addition to capital, bring expertise across game development, publishing, and fintech,” said Cordel Robbin-Coker, co-founder and chief executive officer (CEO) of Carry1st. “In 2020, we were able successfully sign seven great titles, recruit a top notch international team, and build out our payments and digital commerce platform. With this investment, we’re positioned to delight millions of users across Africa and the globe.”

Jackson Vaughan, the Konvoy Ventures managing partner who will be joining Carry1st’s board, said the company was helping to bring mobile gaming to Africa by solving for distribution with its payment infrastructure and approaching sub-regions with contextual understanding.

“Cordel, Lucy, and Tino are incredible founders with strong experience on the continent. We’re excited to lead their Series A and support them as they continue to bring joy to their users across the continent,” he said.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

South African Gaming Startup Carry1st Raises $2.5m To Become Africa’s First Super App Maker

May 28, 2020

Africans will soon have access to many more interesting games to choose from as South Africa’s gaming development startup Carry1st which looks to become Africa’s first super app maker, has raised seed round of $2.5 million led by Johannesburg based venture capital (VC) fund CRE Venture Capital.

“We’re looking to be the number one regional publisher of [gaming] content in the region…the publisher of record and the app store,” said Sierra Leonean founder Cordel Robbin-Coker.

Here Is What You Need To Know

Apart from CRE Venture Capital, also participating in this round of funding are Perivoli Innovations, Kenya-based Chandaria Capital, US-based Lateral Capital and Transsion’s Future Hub, Kam Kronenberg III, among others.
The latest investment from CRE Venture Capital brings the company’s total VC to $4 million, which Carry1st will deploy to support and invest in game publishing across Africa.
The startup will use a portion of its latest round and overall capital to bring more unique content onto its platform. “In order to do that, you need cash…to help a developer finish a game or entice a strong game to work with you,” said Robbin-Coker.
The company will also expand its distribution channels, such as partnerships with mobile operators and the Carry1st Brand Ambassador program — a network of sales agents who promote and sell games across the continent.
The company will also invest in the gaming market and itself.

“We want to dedicate at least a million dollars to actually going out and acquiring users and scaling our user base. And then, the final piece is really around the the tech platform that we’re looking to build,” said Robbin-Coker.

Why The Investors Invested

Investor CRE Venture Capital, lead investor in this round has been active on the African startup scene, investing in the continent’s leading startups such as Andela, Flexclub, Rensource, Gokada, Flutterwave, SweepSouth, Safeboda, among others.

“We invest in visionary founders building category-defining tech companies
levered to Africa. We embark on the journey at Seed and Series A rounds. And we stay the course,” the VC notes on its website.

With this investment, Pardon Makumbe, managing partner at CRE, and Henry Lowenfels, chief product officer of One Team Partners, will join the startup’s board.

Read also: Barely A Year After, South African Insurance Startup Inclusivity Solutions Raises $1.3m From Goodwell Investments

A Look At What Startup Carry1st Does

The startup — with offices in New York, Lagos, and South Africa — was co-founded in 2018 by Sierra Leonean founder Cordel Robbin-Coker, American Lucy Parry, and Zimbabwean software engineer Tinotenda Mundangepfupfu.

Robbin-Coker and Parry met while working in investment banking in New York, before forming Carry1st.

Said Robbin-Coker in the same statement:

“Social gaming is the largest and fastest-growing form of mobile media, grossing more than three times all other app categories combined. Our mission is to bring this world of interactive content to Africa and likewise to connect Africa to the world.”

“Our belief is that building a local publisher, with differentiated tech and operating capabilities across marketing, distribution, and monetisation is the way to be this bridge,” he said.

Carry1st looks to match gaming demand in Africa to the continent’s fast growing youth population, improving internet penetration and rapid smartphone adoption.

Carry1st has already launched two games as direct downloads from its site, Carry1st Trivia and Hyper!.

“In April, [Carry1st Trivia] did pretty well. It was the number one game in Nigeria, and Kenya for most of the year and did about one and a half million downloads.” Robbin-Coker said.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.