{"id":416,"date":"2018-09-12T00:00:00","date_gmt":"2018-09-12T00:00:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/09\/12\/global-investors-look-up-to-nigeria\/"},"modified":"2018-09-12T00:00:00","modified_gmt":"2018-09-12T00:00:00","slug":"global-investors-look-up-to-nigeria","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/global-investors-look-up-to-nigeria\/","title":{"rendered":"Global investors look up to Nigeria"},"content":{"rendered":"
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\nGlobal investors seeking early stage companies that are viable commercially recently turned to Nigeria as the market to be.<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nNigerian technology startups have in the
\nprocess become the brides sought after. Especially the viable one with
\nquick profit returns in the emerging markets.<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nSome of these firms like Mines, Tizeti and Paga have attracted millions of dollars in investments into the country.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nIn early August, Nigerian Fintech
\nstartup, Mines closed a Series A round of $13 million to continue growth
\n in Africa, expand to South America and South-East Asia.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe Series A funding round was led by The Rise Fund, a global fund managed by TPG Growth.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nTPG Growth partnered with Mines to drive
\nfinancial access across the world. Mines, the fintech startup
\nre-inventing credit in emerging markets also plans to use part of the
\ninvestment for talent acquisition.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nA fortnight ago, Paystack, another
\nNigerian payments startup raised $8 million series A from a couple of
\nnew and existing investors.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe funding has come from China\u2019s
\nTencent, Stripe (which Paystack is cloning), VISA as well as Y
\nCombinator. Both Tencent and YC are some of the existing investors in
\nthe startup. This investment brings Paystack\u2019s total investment
\n raised to date to at least $10 million. Last week, two key
\nannouncements took place.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nTizeti, a Nigerian internet service
\nprovider (ISP) start-up closed a Series A round investment of $3 million
\n which would be used to build more solar-powered towers in Nigeria as
\nwell as expand unlimited internet services to Ghana.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe company which operates widely as a
\n\u201cComcast for Africa\u201d, builds and operates solar-powered towers in
\nNigeria, while also providing residences, businesses, events and
\nconferences with unlimited high speed broadband internet
\n access, covering over 70 per cent of Lagos. <\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe new capital injection was led by 4DX
\nVentures with participation from existing investors Y Combinator
\nContinuity, Lynett Capital, Social Capital, Western Technology
\nInvestment, Friale and Golden Palm Investments.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThis follows on from the company\u2019s seed investment of $2.1 million in 2017.<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\n Tizeti will use this
\ninvestment to expand operations outside of Nigeria, and will launch a
\nnew consumer-facing brand Wifi.Africa later this year, starting with
\nneighbouring West African country,
\n Ghana. <\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe company will also make additional
\ninvestments in operations, product development and overall customer
\nexperience, with a view toward growing profitability exponentially.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThis was followed by Paga, a Nigeria
\nbased mobile payment company, who announced a $10 million Series B2.
\nPaga is looking to channel the funding towards global expansion with
\nEthiopia, Mexico, and the Philippines is on top of
\n the radar. <\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nAdditionally, they are looking to continue with product development.<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe round was led by Global Innovation
\nPartners \u2013 which will take a board seat \u2013 with participation from
\nUnreasonable Capital as well as existing investors; Goodwell
\nInvestments, Adlevo Capital and Omidyar Network.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nFounded in 2009 by Tayo Oviosu (CEO) and
\nJay Alabraba (Director Business Development), Paga has over nine million
\n customers and 17,000 agents across Nigeria.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThis recent round brings Paga\u2019s total
\namount of funding raised to date to at least $35 million. In October
\n2015, the company closed a $15 million Series B in a round led by Adlevo
\n Capital, with participation from Goodwell Investments,
\n Omidyar Network and Capricon Investment group. <\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nIn May, Nigerian based Lidya in May 2018 received a Series A $6.9 million funding from Omidyar Network.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe Africa-focused fintech platform working to ease access to finance for SMEs across Africa.
\n<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nAlso, in May, Cellulant which operates in
\n Kenya and Nigeria raised a total of $54.5 million in funding over 3
\nrounds. Earlier in February, SureRemit, a Nigerian blockchain startup,
\nraised $7 million to develop its non-cash remittance
\n platform. <\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
\nThe company was founded in 2014 by Adeoye
\n Ojo primarily as an ecosystem for global non-cash remittances, with
\nheadquarters in San Francisco Bay.<\/u><\/u><\/div>\n
\n<\/u> <\/u><\/div>\n
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Global investors seeking early stage companies that are viable commercially recently turned to Nigeria as the market to be.   Nigerian technology startups have in the process become the brides sought after. Especially the viable one with quick profit returns in the emerging markets.   Some of these firms like Mines, Tizeti and Paga have […]<\/p>\n","protected":false},"author":1,"featured_media":1563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[66],"class_list":["post-416","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-investment","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"\nGlobal investors look up to Nigeria - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/global-investors-look-up-to-nigeria\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global investors look up to Nigeria - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Global investors seeking early stage companies that are viable commercially recently turned to Nigeria as the market to be.   Nigerian technology startups have in the process become the brides sought after. 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