Articles
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2 weeks ago |
techcabal.com | Ngozi Chukwu |Muktar Oladunmade
Silverbacks Holdings, an African-focused private investment firm, has sold a portion of its stake in OmniRetail, a Nigerian B2B e-commerce startup, securing a 5x return on its initial investment. This comes one month after securing a 29x return from its Lemfi exit. The exit follows OmniRetail’s recent $20 million Series A raise, which saw participation from 64-year-old manufacturing titan, Flour Mills of Nigeria, alongside other backers. This partial exit marks Silverbacks’ ninth profitable exit.
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2 weeks ago |
techcabal.com | Muktar Oladunmade
For many founders in emerging markets, venture capital can feel like a black box. Investor expectations are often opaque, and founders rarely get the chance to question the gatekeepers of capital. More often than not, founders are in the hot seat answering questions about their business, while investors decide whether their company is worth backing.
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2 weeks ago |
techcabal.com | Muktar Oladunmade
Earlier this week, I reported that Moniepoint employees sold part of their shares for $870,000. After a similar Arnergy story, the online reaction was swift. Readers loved it, urging more founders to do the same. These moments are inspiring, but still rare in African tech. More often than not, employee shares aren’t worth the paper they’re printed on. However, this is less an indictment of startups and more a reflection of how young Africa’s tech ecosystem still is.
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3 weeks 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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4 weeks 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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