transsion News of 12/16/19
Africa Roundup: Nigerian Fintech Gets $360m, Mints Unicorn, Draws Chinese VC
November 2019 could mark when Nigeria (arguably) became Africa’s unofficial capital for fintech investment and digital finance startups. The month saw $360 million invested in Nigerian focused payment ventures. That is equivalent to roughly ...
Startups Weekly: Chinese Investors Double Down On African Startups
Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about Airbnb’s issues . ...
PalmPay Launches In Nigeria On $40m Round Led By China’S Transsion
Africa focused payment startup PalmPay has launched in Nigeria after raising a $40 million seed-round led by Chinese mobile-phone maker Transsion . The investment came via Transsion’s Tecno subsidiary, with participation from China’s ...
Africa Roundup: CcHub’S IHub Acquisition, Andela’S $50m Run-Rate And Layoffs, Transsion’S IPO
Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal out of its real-estate ...
China’S Growing Digital Influence In Africa
There’s been a heap of China in Africa coverage over the last decade, but very little of it is focused on tech. In part, because the country’s engagement with African startups is light compared to its deal-making on infrastructure and commodities. ...
Africa’S Top Mobile Phone Seller Transsion Lists In Chinese IPO
Chinese mobile-phone and device maker Transsion has listed in an IPO on Shanghai’s STAR Market, a Transsion spokesperson confirmed to TechCrunch. Headquartered in Shenzhen, Transsion is a top-seller of smartphones in Africa under its Tecno ...
Africa Roundup: Goldman Backs kobo360, Rwanda Commits To EVs, Interswitch IPO Update
Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with an Uber -like app that connects truckers ...
China’S Transsion And Kenya’S Wapi Capital Partner On Africa Fund
Chinese mobile-phone and device maker Transsion is teaming up with Kenya’s Wapi Capital to source and fund early-stage African fintech startups. Headquartered in Shenzhen, Transsion is a top-seller of smartphones in Africa that recently ...
Africa’S Top Mobile Phone Seller Transsion To List In Chinese IPO
Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to TechCrunch. The company—which has a robust Africa sales network—could raise up to 3 billion yuan (or $426 ...
China’S Vivo Is Eyeing Smartphone Users In Africa And Middle East
Africa’s mobile phone industry has in recent times been dominated by Transsion, a Shenzhen-based company that is little known outside the African continent and is gearing up for an initial public offering in China . Now, its Chinese peer Vivo ...
Flutterwave And Alipay Partner On Payments Between Africa And China
San Francisco and Lagos based fintech startup Flutterwave has partnered with Chinese e-commerce company Alibaba to offer digital payments between Alipay and African merchants. Flutterwave is a Nigerian founded B2B payments service ...