Articles
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3 days ago |
techcabal.com | Muktar Oladunmade
When Moniepoint raised $110 million in October 2024 to become a unicorn, not only its early investors made money from selling shares to new investors. At least two senior employees also sold part of their shares in the round, making $20,000 and $850,000 (₦1.3 billion), respectively, according to documents seen by TechCabal.
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1 week ago |
techcabal.com | Muktar Oladunmade
Sycamore, a Nigerian digital lender, is raising ₦1 billion ($628,000) to complete a $1.5 million debt funding round, just one week after securing ₦1.5 billion ($943,000) debt from Cascador, a Nigerian entrepreneurship accelerator. The six-year-old company will use the capital to expand its loan book amid surging demand for credit from individuals and businesses.
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1 week ago |
techcabal.com | Muktar Oladunmade
Angel investing is hard and inherently risky. Unlike venture capital firms, angels do not often have the resources to perform deep due diligence and sometimes invest intuitively, but one leveller is the startup’s cap table. A cap table is the single source of truth for who owns shares in a startup, under what terms, and how proceeds will be distributed in future financings or exits. It’s often the final due diligence step that an investor takes before wiring money.
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2 weeks ago |
techcabal.com | Muktar Oladunmade
Nigerian fintechs have had a mixed relationship with cards. In the past, some offered foreign-issued cards like Visa and Mastercard to acquire customers and encourage online spending. However, as Nigeria’s economy worsened and bank transfers grew, fintechs began ditching foreign card schemes in favour of local alternatives or stopped offering cards altogether to cut costs and adapt to shifting user behaviour.
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2 weeks ago |
techcabal.com | Muktar Oladunmade
I first met Samuel Efosa-Austin, the chief technology officer of a Lagos-based health insurance startup, at a class for venture capital enthusiasts. As we learnt about venture capital fundamentals, he wasted no time in telling the class about his one-year plan to raise a ₦100 billion fund to back companies trying to solve Africa’s data infrastructure gap. His approach to raising a fund in local currency and his focus on data projects piqued my interest.
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When ride-hailing service, Rida, launched in Harare, Zimbabwe in 2023, it not only brought convenience to commuters, but also attracted professionals who are leaving their jobs to supplement their meagre salaries as gig workers. https://t.co/VNhmKqKShD