Inspiring Sustainable Business in Africa
SOUTH AFRICA – VALR, a cryptocurrency exchange platform based in South Africa, has raised a US$50 million Series B funding round that values the company at US$240 million, and will use the proceeds to expand across the continent. The startup raised its Series A in 2020, and its oversubscribed US$50 million Series B funding round was led by Pantera Capital…
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NIGERIA – The Central Bank of Nigeria joined a growing list of emerging markets betting on digital money to cut transaction costs and boost participation in the formal financial system. The unveiling of the eNaira is a culmination of several years of research by the country in advancing the boundaries of the payment system, making transactions easier and seamless. The digital currency and…
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SOUTH AFRICA – VALR, one of South Africa’s largest crypto exchanges, has launched VALR Pay, a free, fast, and easy way to send South African Rand (ZAR) payments to any mobile number or email address. VALR.com was founded in 2018 with the backing of former FNB CEO Michael Jordaan and US crypto exchange Bittrex to bridge the gap between the traditional…
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NIGERIA – AFEN Group, the first government-backed NFT initiative, has raised US$1 million in a fundraise through non-fungible token (NFT). Launched by its 27-year-old CEO and former banker, Deborah Ojengbede, AFEN is a leading hub for African blockchain-related collaborations with a focus on decentralized finance, arts, real estate, and education. Since cryptocurrency and blockchain- the technology driving it- continue to…
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SOUTH AFRICA – South African cryptocurrency investment platform Revix, has raised US$4 million in funding to help it launch a mobile and expand to the European Union. The startup which has offices in Cape Town and London, aims to make investments in cryptocurrency funds more accessible to ordinary investors. The company was founded by Sean Sanders and Louis Buys in…
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WEST AFRICA – Electroneum, UK-based cryptocurrency startup, has expanded its electricity top-up service to four more African countries, in Sierra Leone, Togo, Benin, and Ivory Coast. The service is accessible through its mobile app that allows registered users to top up on electricity or send electricity to friends or families. In an official press release, Richard Ells, CEO of Electroneum…
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SOUTH AFRICA – VALR, a cryptocurrency exchange, has raised ZAR57 million (US$3.4 million) in Series A funding to help it roll out new products and launch in additional markets. VALR allows customers to buy, sell, store and transfer more than 50 cryptocurrencies seamlessly and securely. It now has over 40,000 customers and has seen over 13,000 bitcoins traded over the…
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NIGERIA/SOUTH AFRICA – Paxful, a leading peer-to-peer bitcoin marketplace, has partnered with OKEx, one of the world’s largest and most diverse cryptocurrency spot and derivatives exchanges, to offer more bitcoin payment options for users in Nigeria and South Africa. Paxful in a statement explained that the strategic partnership will offer several payment methods for new and existing OKEx users to…
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