Fintech company Payday raises US$1m pre-seed funding to build new offering

NIGERIA – Payday, a Pan-African financial technology company, has raised US$1 million in pre-seed funding to build out what they believe will be the “PayPal” for Africa. The round had participation from several investors including LofyInc, Microtraction, Magic Fund, Ventures Platform, Voltron Capital, CcHub Syndicate, Helicarrier Inc, Greencap Equity, Midlothian Angel Network, Emergence Capital and Olugbenga Agboola (GB). Others include Charles Odita, Eke Eleanya, Adegoke Olubusi, Edmund Olotu (Bloc), Prosper Otemuyiwa (Eden), Dimeji Sofowora, Perseus Mlambo (Union54), Abdul Hassan (Mono), Onyekachukwu Somtochukwu Eyisi, and a host of other investors. Ntoudi…

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Orange Ventures invests in mobility startup Lamma

TUNISIA – Orange Ventures, the Venture Capital Fund of the Orange Group, has announced an investment in Tunisian mobility startup Lamma that specializes in last-mile mobility This comes just after Lamma has launched its new Quick Commerce (Q-Commerce) application, which aims to revolutionize customer experience in Tunisia by delivering all everyday orders in less than 45 minutes. “We look forward to the support of Orange Ventures at this stage of the development of our project,” said Yassir El Ismaili El Idrissi, CEO of Lamma. “We wish with this investment continue…

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Digital Africa commits US$150m for next 3 years to support entrepreneurship in Africa

AFRICA – France President Emmanuel Macron has announced at the New Africa-France Summit a renewed financial commitment of €130 million (US$150.53m) for the next three years and defined Digital Africa’s new ambitions to support entrepreneurship and technological innovation on the continent. In terms of financing, Digital Africa announced the Fuzé project, that focuses on Francophone Africa and aims to support at least 200 tech start-ups as of early 2022 by launching a new small ticket fund taking the form of repayable loans. In terms of skills, Digital Africa joins forces…

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