The Africa 170m series tiger is a great option if you are looking to go for a good looking watch that is durable. It features a large face plate, a sturdy frame and a hefty design. You will not have to worry about your watch breaking or falling apart, which can happen to other watches, and you can enjoy your time on the water in comfort.
Union54
Union54 Africa is a fintech startup that focuses on card-issuing APIs. It offers a solution to the African market’s growing need for a card-issuing platform. The company hopes to build an alternative to Mastercard.
According to the startup’s founders, Union54’s goal is to create an interchange revenue of more than 1%. This could help Union54 expand its customer base. Currently, the company has customers in multiple African countries.
For its services, Union54 charges an undisclosed flat fee. Union54 also allows users to design their own cards. Customers can choose the currency for their cards, as well as set a usage parameter.Union54 claims that it has issued over half a million virtual debit cards since it launched in October. However, the company has experienced operational issues in May.
IROKO
One of the largest and most successful tech companies in Nigeria was IROKO. They are the ones who paved the way for many of the startups who are launching today. With more than 100 staff and an estimated valuation of a hefty $170 million, IROKO was the epitome of success. However, the company is not a unicorn by any means. Having been around since 2004, they were a pioneer in the ecommerce game and have been a force to be reckoned with ever since. In the present economic environment, it is imperative that they stay on top of their game.
While the company’s savviness is not always a given, there are signs they are trying to reposition themselves as a more business-like outfit.
Float
Float is a cash management platform that offers software tools and financial services that make managing accounts and cash easier. This platform aims to be the financial operating system for small and medium businesses on the continent. In seven months of operation, the startup has onboarded hundreds of business and advanced tens of millions of dollars in credit.
Float is the latest in a growing crop of startups aimed at providing solutions to the cash flow woes of African SMBs. Others include Brass, Prospa, and Sparkle. All of these companies are focusing on solving one particular problem, in this case cash flow. The biggest challenge facing African SMBs is getting the funds they need to grow their businesses.
The Float platform provides flexible lines of credit, an online account opening portal, and a suite of financial and software tools to help manage accounts. It also offers a smorgasbord of payment options, including payment links, spend cards, and invoice advances.
Flutterwave
Flutterwave, an online business platform that helps merchants sell products and services to consumers, has raised USD $170 million in new funding. The investment, which is the largest ever made by an African fintech startup, brings the company’s total valuation to more than $1 billion.
After four years of growth, the company has expanded into 33 countries in Africa. Last year, it launched a product called Grow, which helps African businesses incorporate in the U.K. It has also partnered with Alipay for digital payments between Africa and China.
In October, Bloomberg reported that Flutterwave had secured a second round of funding. This time, it is from Tiger Global, Avenir Growth Capital, and other international investors.
With the new funding, the company plans to expand its reach across the U.S. and Europe, while focusing on building complementary products for its users. These new investments will help Flutterwave accelerate customer acquisition in existing markets.
FairMoney
FairMoney is a credit-led neobank that offers loans to individuals and small business owners in Nigeria. It’s been six months since FairMoney’s last round of funding, and the company has already disbursed over N93 million to users in 2020. The credit-led model entails offering loans and then allowing users to pay them back via bank transfers, cash at partner bank tellers, or a combination of the two. In order to ensure that FairMoney’s customers are always happy, the company has even partnered with a local telecom to deliver SMS alerts when payments are due.
Finally
While there are many banks and financial service providers in the country, FairMoney stands out because of its scalability, ubiquity and ability to deliver a stellar customer experience. With its mobile app, the bank is able to analyze its users’ geolocation and provide them with relevant offers that suit their needs. A new feature introduced in 2019 is the ability to buy airtime and data from the app.
