Africa’s Cross Border Fintech App Raise $13.8m Series A funding…
As Egypt’s Zedny raised $1.2 million while South Africa’s Planet42, raised $2.4-million respectively
Things seem to be looking up for some African startups even in the midst of the global pandemic. This buttresses an earlier point made by African Heroes early this month that inspite of the Covid-19 pandemic, investor’s seem to have a huge appetite for African markets and startups. Chipper Cash, Africa’s fastest growing fintech app which observers say has disrupted the traditional payment services by offering zero-fee, peer-to-peer payment services across seven African countries has just raised $13.8 million Series A funding from investors. This funding according to the company sources will help actualize its plans to expand its workforce across different geographies.
The round which was co-led by Deciens Capital and Raptor Group had other participating investors including 500 Startups and Liquid 2 Ventures. Chipper Cash, a cross-border app with services in Nigeria, Kenya, South Africa and Ghana and over 1.5 million users and records transaction volume of over $100 million a month has been the cynosure of investor’s eyes. And with this latest funding round, Chipper Cash has now raised $22 million in two years. Founded in 2018, Chipper Cash was started by Ham Serunjogi and Maijid Moujaled.
In a similar development, Egypt’s edtech startup, Zedny has raised $1.2 million pre-seed funding to roll out a new online learning platform. The platform has over 200 courses and 400 animated video summaries top global business books. According to Disrupt Africa, the startup provides year-long online learning and also acts as an external employee performance evaluator via its AI integrations.
Read also : https://afrikanheroes.com/2020/06/03/ugandan-fintech-startup-eversend-raises-706k-through-crowdfunding/
Not left out of the pie, Planet42, a South Africa-based startup has raised €2.2-million ($2.4-million) seed round. The round was led by Change Ventures, an Estonian VC company, with participation from top Estonian tech entrepreneurs including Martin Villig, co-founder of Bolt, Pipedrive’s Ragnar Sass, MeetFrank’s Marko Virkebau, and Katana MRP’s Kristjan Vilosius. Founded by two Estonians, Marten Orgna and Eerik Oja, Planet42 is a vehicle rental company. It works with auto dealerships to offer rent-to-buy services for private clients over the long-term. The company said it will use the new funding to expand its portfolio of cars. It plans to control 100,000 cars in South Africa by 2024.
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