How do you create connections?

Whats up there,

As a Twitter person, you’ve in all probability observed the trending dialogue on whether or not we want extra Nigerian fintech startups.

So let’s begin with some statistics, albeit conflicting. Utilizing information from Statista, Adetola Onayemi, Norebase’s Co-founder, claims Nigeria has 144 fintech startups. In the meantime, Yinka, Intelligence by Techpoint’s group lead, says it’s nearer to and more than likely over 250. That is, after all, primarily based on the data the group has gathered to date.

What are your ideas on this? Do you imagine Nigeria wants extra fintech startups, or can we have already got sufficient?

We’re presently conducting a ballot to find out what number of fintech apps you could have in your cellphone. You may vote here till 2 p.m. at present.

Additionally, Chimgozirim mentioned this in at present’s episode of the • Podcast. You may hearken to it right here. 

As we speak, I’ll be discussing:

  • Discovering a connection that issues 
  • The startup recreation is altering
  • Identitypass’ $2.8m seed 
  • MARA’s $23m seed

Discovering a connection that issues

Have you ever used a web-based courting platform like Tinder? What was your expertise like? Extra importantly, did you discover a real connection on-line? 😉 

Is it even doable so that you can discover a true connection on-line?

In case you’ve used Tinder, it’s best to perceive how Bantaba — an African startup that gives a service much like the matchmaking platform — works.

Nevertheless, it’s essential to know that Bantaba just isn’t one other match-making platform. As an alternative, it connects African tech startups with African diaspora buyers, mentors, and consultants. Isn’t it utterly completely different?

After I noticed the phrase “Bantaba” for the primary time yesterday, my first thought was, “What’s Bantaba once more?” 😂

Nonetheless, Ogheneruemu particulars the startup’s journey and gives a quick historical past of the phrase “Bantaba”. In case you’re Gambian, try to be aware of it.

A historical past class is so as, although: Bantaba is an historical Manding phrase for a big tree within the village sq. the place elders gathered to speak about points that affected everybody within the village.

To understand how the phrase’s origin pertains to the startup, Lamin Darboe (CEO) describes Bantaba because the digital model of the square-like convergence on the foot of the massive village tree. However this time, it’s to assist diaspora and tech startups “tackle the challenges again residence.”

Additionally, Ogheneruemu discusses how the corporate operates and what it’s, and it’s not. You actually wish to discover a connection that issues to your startup, don’t you?

So, for extra data on that, learn it right here: How one can give again to the African continent, the Bantaba method

• Blockchain Summit

The • Blockchain Summit (TABS 2022) will happen in lower than ten days! Are you prepared?

From Fisayo Fosudo’s escapades in tech and finance to Hillary Omitogun’s journey as a Web3 UX researcher at Nestcoin, we now have a star-studded line-up of audio system at TABS 2022. 

Tickets are promoting out quick; save a seat for your self right here.

The startup recreation is altering

Do you recall this story from final Thursday, the place our Senior Reporter, Emmanuel, mentioned the issues Africa’s YC-backed startups are ‘attempting’ to resolve?

In case you don’t recall that, I imagine it’s best to bear in mind the report Intelligence by Techpoint, •’s information and analysis arm, issued final Wednesday. I imply, I’ve solely been speaking about it for the previous few weeks at the very least. 🧐

The report exhibits the breakdown of the $1.3 billion raised by YC-backed African startups — with 51 from Nigeria — particulars of featured startups, and different data. For context, please obtain the report right here.

Enjoyable truth: Y Combinator alumni have been behind a few of Africa’s most profitable startup tales. Do you see why try to be ?

This time, Emmanuel needs us to think about how YC is altering the sport for African startups. Try to be studying this along with your morning espresso (or tea, your selection).

Test it out right here: Y Combinator is altering the African startup recreation

Identitypass’ $2.8m seed

Identitypass, a Nigerian digital compliance and safety startup, has introduced that it has raised $2.8 million in seed funding.

MaC Enterprise Capital led the spherical, with participation from Y Combinator, Soma Capital, True Capital Fund, and Sherwani Capital.

How did the corporate begin? Initially, Identitypass was creating a platform that required clients to make funds with biometrics — face, fingerprints, or voice — and playing cards. Nevertheless, whereas creating the platform, they bumped into issues with verification checks. 

Consequently, they transitioned into an organization that makes it easy for African digital companies to validate that their clients are who they declare to be.

Since its launch in January 2021 by co-founders, Lanre Ogungbe, Niyi Adegboye, and David Obi, Identitypass claims it has verified over a million distinctive government-issued IDs. 

Examples of those are nationwide IDs, driver’s licenses, worldwide passports, financial institution verification numbers (BVN), cellphone numbers, registration number plate numbers, debit playing cards, safety watchlists and tax historical past. 

Additional, the corporate not too long ago launched a SaaS platform. In line with Ogungbe, Identitypass’s new providing — software program relatively than a plug-and-play answer — provides it a aggressive benefit.

The corporate intends to collaborate with quite a few regulatory businesses to create a world-class information safety framework for Africa. Plus, they’ll work with a number of alliances to type extra formidable and strategic partnerships throughout Africa.

Additionally, it plans to make use of the seed funding, to increase its current infrastructure, launch new verticals targeted on compliance, safety, and information assortment, and increase into new African international locations.

MARA’s $23m seed

MARA, a pan-African crypto alternate platform, has accomplished a $23 million fairness and token seed increase.

Crypto and web3 buyers included Coinbase Ventures, Alameda Analysis (FTX), and Distributed World. Additionally, TQ Ventures, DIGITAL, Nexo, Huobi Ventures, Day One Ventures, Infinite Capital, and DAO Jones, with about 100 different crypto buyers, participated within the spherical.

Based by Chi Nnadi (CEO) in 2021, the corporate plans to “enhance the variety of Africans who can take part within the crypto financial system.” 

It claims to be creating a set of merchandise to handle numerous crypto-finance wants for the African market. Its flagship product is a crypto-brokerage app for customers to purchase, ship, promote, and withdraw fiat and crypto belongings. 

Additional, MARA intends to enter Kenya and Nigeria in July 2022. The corporate then plans to launch a pro-exchange in Q1 2023 for stylish merchants who use technical evaluation and like a whole set of buying and selling choices to the normal alternate choices on MARA’s retail app.

What I’m studying and watching

In case you missed it

Meet the 6 groups competing for the $2,500 money prize within the TABS Web3 Hackathon


  • Polygon is sponsoring 50 free tickets to • Blockchain Summit (TABS) holding on Could 21, 2022. To win, observe the directions here.
  • Win as much as ₦1m once you take part in Credo’s Social Funds Hackathon beginning Could 16, 2022. Register right here. 
  • Google is offering 30,000 scholarships to these captivated with know-how and eager on gaining abilities in Android functions improvement and Google Cloud. Apply right here.
  • The Social & Inclusive Enterprise Camp (SIBC) has begun trying to find its sixth cohort of African entrepreneurs. Apply right here.
  • eHealth is in search of an expert with 5 years expertise in designing, implementing or managing MLE programs and processes. Apply right here.
  • AFS World STEM Accelerators is in search of females between the ages of 15 and 17 years to use for its 12 week all-virtual applications. Apply right here.
  • • will host entrepreneurs and startup fanatics at Techpoint Pitch Friday on Friday, Could 13, 2022, by 5 p.m at 43b Emina Crescent, Opebi, Allen, Ikeja. Register right here.
  • TechCabal is in search of Senior Editors to hitch its group. To use, click on right here.

Have an outstanding Thursday!
Victoria Fakiya for •.

Victoria Fakiya

A author with ADHD who’s excited about psychological well being and the way know-how is bettering the lives of Africans with ADHD.


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