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Startup news

  • Former CIO of Barclays Africa joins Jumo

    Former CIO of the Barclays Africa Seeker Fund, Warren Squires has joined fintech startup Jumo, the company announced. Squires was appointed as director of MTN Channel at the company on 9 January. "It’s a big win for Jumo. Balancing our technology capability with the experience of people like Warren is really powerful," says CEO and founder of Jumo, Andrew Watkins-Ball, in a press release to Ventureburn. "Jumo is changing the face of digital finance, has made significant inroads into making a material difference in mobile money and inclusive finance for emerging markets and is at the right stage to benefit from my skills...

  • Report: African tech startups receive funding boost in 2016

    The number of African tech startups receiving funding in 2016 has risen by almost 17% compared to the previous year, a new report found. The second annual Disrupt Africa Tech Startups Funding Report found that 146 African startups raised US$129.1-million in 2016. The report clarified that, while the number of startups receiving funding has increased, the actual amount of funding saw a decline. As for the most popular nations, South Africa, Kenya and Nigeria accounted for just over 80% of funding secured. Fourth-placed Egypt was a fast mover though, seeing 100% fundraising growth. The continent has seen a slew of fintech-related startups...

  • Meltwater Entrepreneurial School of Technology is calling all SA tech entrepreneurs

    The Meltwater Entrepreneurial School of Technology (MEST) is looking for SA techies and entrepreneurs to join their next group of trainees. The programme aims to provide its trainees with hands-on software development training, an opportunity to start and grow their own business with access to global markets, as well as mentoring from executives from global software companies and the opportunity to solve real-world business problems. Thanks to the Meltwater Foundation, the next cohort of MEST trainees will also be eligible to receive seed funding of US$50 000 up to US$100 000. In addition to SA, recruitments will also be taking place in Ghana, Kenya, Cote d'Ivoire...

  • Fintech company Entersekt shows phenomenal growth

    Over the past twelve months, fintech company Entersekt has handled over one billion transactions, with 60-million of those coming from South Africa. The company handles mobile solution and authentication solutions, with offices in Africa, Europe, and North America. "Our growth is testament to Entersekt's solid operational and technical expertise, and it also reflects a growing recognition worldwide of the immense benefits of digital banking and secure online channels," says CEO of Entersekt, Schalk Nolte, in a press release to Ventureburn. Read more: 3 key startup lessons from Entersekt’s Dewald Nolte "The financial services sector is recognising the importance of providing seamless and secure online security...

  • d.light raises US$10.5-million in funding

    Solar energy enterprise, d.light has raised a combined US$10.5-million in funding from Norfund (US$5-million in equity) and Beyond the Grid and the Shell foundation (US$5.5-million in grant funding). "Norfund invests in profitable and sustainable enterprises that contribute to economic growth and poverty alleviation. Access to energy is a key input for development, and we believe energy mix for the foreseeable future also will include off-grid solutions, in particular for rural households and businesses," said head of clean energy investments of Norfund, Mark Davis in a press release. "As the leading provider of off-grid solutions in emerging markets, d.light is a good...

  • WumDrop launches Deliver 2 Me, new address-free delivery option

    Startup courier service WumDrop, has launched a new offering, allowing parcel deliveries without the need for an address. The service, which the company calls Deliver 2 Me, uses the receiver's phone and its real-time location. It will also allow users to choose a time for the delivery to take place. "What makes this technology remarkable is its scalability. Deliver 2 Me isn't locked into a native mobile app like most geolocation services - it leverages the increasingly powerful suite of features found in mobile browsers to deliver an accurate delivery location to the driver, and a clean, easy to use interface to the...

  • Fomo Travel: the lay-by startup looking to make travel easier

    Travelling the world can be a costly endeavour, however, SA startup FOMO Travel aims to make it much less of a burden on your wallet. The company was started last year by Andrew Katzwinkel and is described as a lay-by service for budding travellers. The team also consists of Vuyisa Qabaka, who's a mentor to Andrew and a board member of Fomo; Dean Cannell, a tech partner; Bradley Elliot from Platinum Seed, who's involved with their digital marketing as well as Brian and Lee-Ann Singer of The Singer Group, who are infrastructural partners. "I decided to start Fomo Travel because too many South Africans...

  • Golf startup Tagmarshal announces further expansion into US market

    Golf technology startup Tagmarshal will further its expansion into the US markets. This comes after the company received an undisclosed second round of funding, lead by Germany investor Christian Vollmann and joined by five EU and SA-based investors. "We have a proven product and a growing list of customers that are not only getting results and significant ROI, but are happy to recommend and refer their networks," says CEO and co-founder of Tagmarshal, Bodo Sieber, in a press release to Ventureburn. "This speaks volumes for the effort our team has put into working closely with some of the industry's best courses, focusing on advancing the...

  • The 6 startups to represent Africa at AFIF Entrepreneurship Awards

    Six African SMEs have been nominated to represent their nations at the 2017 Africa Finance and Investment Forum (AFIF) Entrepreneurship Awards. The event is supported by the Rabobank Foundation and will take place at the Strathmore University in Nairobi from the 13 to 16 February 2017. The awards will seek to provide those selected with the necessary support to grow their businesses. The finalists will not only receive free accreditation to join the AFIF's full programme, which includes conferences, training and B2B networking opportunities, but the award winner will also receive a cash prize as well as national and international media promotion...

  • Amazon Project: Nigeria gets own pitching show

    Nigeria will be receiving its own televised SME pitching competition titled The Amazon Project. The show aims to provide entrepreneurs with the necessary ways to take their product to market. AIS Media along with other partners will help entrepreneurs discover new ideas, validate their concepts as well as try to assist them with financial support in the form of investments. The show is accepting applications from thousands of Nigerian startups, who will undergo major scrutiny by a consulting organisation. This same organisation will shortlist businesses who will be selected to pitch their idea on the show. These pitches will undergo further scrutiny from a...