- Cryptotimes Africa

APPLICATION CALL: The First-Ever Rwanda-Based, Sector-Agnostic Innovate Africa Fund Is Seeking to Invest ~$50,000 in 20 Early-Stage Startups

by Crypto Oracle July 11, 2024

With an initial $2.5 million rollout, Innovate Africa Fund, an angel investment fund, assists early-stage creators who are moving their firms from conception to product. The sector-agnostic fund, co-founded by Kristin Wilson and Christian Idiodi, intends to assist up to 20 entrepreneurs…

News Startups

REPORT: Investment in African Startups Drops by More Than 50% Year-Over-Year to $780 Million in H1 2024

by Crypto Oracle July 5, 2024

Between January and June 2024 (H1 2024), startups in Africa raised $780 million. This represents a 31% decrease from H2 2023 figures and an even more striking 57% reduction from H1 2023. Two thirds of this money came from stock, and the…

Startups

Nigeria’s Startbutton helps companies with their international expansion, compliance

by Powel March 7, 2024

Nigerian startup Startbutton is a “merchant of record” that enables businesses to accept payments in local currencies and manage local compliance without needing to establish local offices. Co-founded by Mallick Bolakale and Kelechi Obi in 2022, Startbutton assists multinational businesses in accepting local currency…

Startups

TechStars and ARM Labs Select 12 Startups in Cohort 2 of its Accelerator Program in Nigeria

by Powel January 26, 2024

This cohort includes startups from Ghana, Nigeria, and East Africa, featuring four teams with at least one female co-founder. Each participating startup receives funding of up to $120,000, along with access to over $400,000 in cash equivalent resources covering hosting, accounting, and…

Startups

Techstars to invest $1.4 million in 12 African startups

by Powel December 15, 2023

Techstars Accelerator has announced plans to invest a total of $1.4 million in 12 African startups as it unveiled 12 companies to participate in the second cohort of its pan-African accelerator program in partnership with Lagos-based innovation program, ARM Labs. According to…

News Startups

South Africa financial watchdog wants crypto firms to establish local offices

by Powel December 10, 2023

The South Africa’s financial regulators want crypto startups operating in the country with foreign head offices to set up local offices to ensure “appropriate oversight and ensure accountability.” Per a recent study from the Financial Sector Conduct Authority (FSCA), approximately 10% of…

News Startups

Nigerian Web3 Startup, WiCrypt, Receives $150,000 Grant from Microsoft

by Powel December 8, 2023

WiCrypt Network, the decentralized mobile internet sharing and monetization network out of Nigeria, has received a $150,00 grant from Microsoft. "We received a $150,000 grant from Microsoft. This grant will go a long way in expanding collaboration and improving productivity around our #DePIN…

News Startups

ACQUISITION | Nigerian Crypto Platform, Bitmama, Reportedly Acquires PayDay for an Undisclosed Sum

by Powel December 6, 2023

Bitmama is expected to assume PayDay's customer deposits and liabilities. It is also set to absorb several PayDay's key personnel across various departments, including marketing, customer service, and engineering. According to local reports, BitMama, the Nigerian crypto platform, has closed a…

Industry News Startups

African crypto platform, Bundle shuts down after 3 years of operations

by Crypto Oracle July 22, 2023

The news: African crypto exchange, Bundle Africa, has shut down operations after three years of operation. It says it'll now focus on expanding Cashlink, its peer-to-peer (P2P) payment network. The company has amassed 50,000 monthly active users over the years and $50…

Startups

Adaverse, the Cardano-backed Accelerator Launches Startup School For Web3 Founders in Africa

by Terry Kunle March 11, 2023

We are beyond thrilled to announce the launch of our Startup School, an educational arm of Adaverse that will feature a podcast and a resource hub for young entrepreneurs in Africa. The Startup School webinars will host accomplished entrepreneurs, industry thought leaders, and blockchain…