Syarpa, Etap, Algebra Ventures, Union54,AfDB, BFA Global, SadaPay, Soter Analytics. These are some of the names that made the headlines this week, IgbereTV reports
A Nigeria-based fintech startup, Syarpa, during the week, announced securing a pre-seed funding worth $500K.
Also, a Nigerian-based startup, Etap, secured a $1.5M pre-seed funding as it seeks to drive expansion across West African countries.
Let’s get into details.
A lot is expected from Africa. The funds are coming in. From Nigeria to Egypt and South Africa. It’s raining money.
During the week, Egypt-based VC, Algebra Ventures, announced closing a $15M investment from International Finance Cooperation (IFC), a member of the World Bank Group.
Ripples Nigeria reported that the new investment vehicle followed the VC’s first $54 million fund last year which it invested in startups such as Trella, elmenus, GoodsMart, and Halan.
Tech correspondent Ridwan Adelaja noted that Algebra Ventures was founded in 2015 by Karim Hussein, Tarek Assaad, and Ziad Mokhtar
