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All posts by Daniel Mpala

Daniel Mpala
Daniel's focus is on the African tech startup ecosytem. Besides that, he is passionate about online security, privacy and international affairs. He studied International Relations and Media Studies at the University of the Witwatersrand.
  • Microtraction looking to invest outside Nigeria says partner Dayo Koleowo

    Lagos-based early-stage investment platform Microtraction is looking to do "some non-Nigerian" deals this year, its former principal investment officer and newly appointed partner Dayo Koleowo has revealed. Last year Microtraction -- which was founded in 2017 by Yele Bademosi (who was last month appointed as a director at Binance Labs) -- has so far invested in only Nigerian startups. It's made eight investments to date. The platform ordinarily invests $65 000 in two stages. The first investment is usually about $15 000 in exchange for a 7.5% equity stake. This is followed by an additional $50 000 convertible note at...

  • Kenya’s mSurvey to take on Nigeria after securing follow-on funding from Proparco

    Nairobi-based mobile survey platform mSurvey is looking to expand operations and take on the Nigerian market after the firm's recent announcement that it secured follow-on funding from French development finance institution Proparco. The company’s consumer experience and feedback platform — which uses cloud computing connected directly to mobile network operators — enables businesses and organisations to connect with, and receive structured feedback directly from customers. The firm was founded in 2012 by Kenfield Griffith (pictured above) and CTO Louis Majanja, and in April last year announced it had raised a $3.5-million Series A round led by venture capital firm TLcom Capital (see this story). ...

  • French investor I&P says IPAE 2 fund ‘on track’ after €25-million second closing

    French impact investment group Investisseurs & Partenaires (I&P) says its new fund is on track to raise between €80-million and €90-million after last week having made a second closing of €25-million. I&P's Afrique Entrepreneurs 2 (IPAE 2) was launched in 2017, aims to invest equity and quasi-equity in between 30 to 40 startups and small businesses in West and Central Africa, East Africa and Madagascar by 2022. In a statement last Tuesday (12 February), I&P said new investors had joined the fund, with the new closing. These include the Belgian Investment Company for Developing countries (BIO), the Dutch Good Growth...

  • Cairo-based GoodsMart announces second investment from Algebra Ventures

    Cairo-based household shopping app GoodsMart today announced that it has secured its second investment from Egyptian venture capital (VC) firm Algebra Ventures. The deal was signed late last year. The shopping app also provides its users with a payments and delivery service. GoodsMart was founded in 2014 by CEO Amr Fawzi (pictured above) and Ahmed Sudan. In a statement today (18 February), the startup said the investment was made ahead of preparation for a Series-B round raise. In an email today (18 February), GoodsMart strategic project and partnership lead Nayra Elberry declined to disclose how much Algebra Ventures invested in the...

  • ‘Real projects will get African regulators to shift stance on crypto, blockchain’

    Entrepreneurs who help develop real projects on the blockchain is what is likely to drive African regulators to begin regulating cryptocurrency and blockchain. So, believes Nigerian Yele Bademosi, the director of Binance Labs, the venture arm of cryptocurrency exchange Binance. Bademosi is also the founder of Nigerian seed funding platform Microtraction, which has recently made several investments in startups in the West African countries (the most recent was in a healthtech startup -- see here). It's not clear why Bademosi took a job with Binance. In a phone call with Ventureburn last week, Bademosi (pictured above) said most African regulators...

  • SA’s Xineoh in $500k funding round, as it eyes opening second Canada office

    SA tech company Xineoh has closed a $500 000 equity funding round and is now exploring opening a second office in Canada -- in Toronto -- the startup's CEO and founder Vian Chinner revealed today. The company, which Chinner (pictured above) founded in 2010 and uses artificial intelligence (AI) to predict customer behaviour, already has offices in Canada's Vancouver -- as well as in Johannesburg (it was formerly based in Bloemfontein). This follows the firm's announcement last December that it had closed a $1-million equity funding round, bringing the total funding the startup has secured in the last two months to...

  • Ctrl CEO says Santam investment will give the insurtech two to three years runway

    SA short term insurer Santam's investment in Cape Town based digital insurance broker Ctrl -- announced late last month -- will give the insurtech enough runway for the next two to three years says Ctrl CEO Pieter Venter. The announcement of the deal was first reported in a story on SA tech news site TechFinancials on 31 January. In a phone call with Ventureburn today (14 February), Venter (pictured above, far left) declined to disclose how much the financial services giant had invested in the startup. He however said the multi-year funding deal will see Santam acquire a "minority stake" in the...

  • Here’s why African edtech startups are struggling to find a viable business model

    At its peak Nigerian Elvis Chidera's edtech startup reached over 120 000 users across West Africa. Over 100 students subscribed to use his startup's Android app's premium functionalities every month. But after three years and having invested $10 000 of his own money into the business Chidera (pictured above) last year shut down his Lagos-based business, Prepup. At the time it closed the business employed a team of five engineers and content creators that provided high school students with a "high quality, personalised way" to study and prepare for exams. "Unfortunately, we couldn't find a sustainable business model for Prepup...

  • Smart meter firm Conlog, Tshimologong launch blockchain incubation programme

    Durban-based smart metering solutions provider Conlog has partnered with Wits University's Tshimologong Digital Innovation Precinct to launch a blockchain incubation programme, Reapele. The programme -- which has a strong focus on blockchain and smart city solutions -- will be hosted and run by Braamfontein-based Tshimologong. In a statement yesterday (13 February), Tshimologong said the programme will be delivered in seven phases which will nurture tech businesses, digital products and ideas into viable businesses. Conlog and Tshimologong's Reapele blockchain incubation programme is aimed at developers with experience in Java, Javascript, C++, Python or C# Tshimologong head of marketing Kendal Makgamathe (pictured above) said...

  • Accion Venture Lab launches second edition of Company Builder programme

    Accion Venture Lab, the seed-stage investment initiative of global non-profit Accion, has launched the second edition of its Company Builder programme, applications for which will close on 6 March. Through the programme, Accion Venture Lab works with entrepreneurs to develop inclusive fintech solutions for underbanked consumers in Nigeria, validate their models in the market, and build a business from the ground up. In an email on Monday (11 February) Accion Venture Lab Company Builder Associate Averi Thomas-Moore said the programme leverages Accion Venture Lab's global knowledge and expertise in fintech for financial inclusion and provides both financial and non-financial support as...

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