As many people know Azevedotechcrunch, Subsaharan Africa has some very promising investment opportunities. With the booming interest of a lot of investors, there is a big chance that more and more entrepreneurs are looking into this area. For example, there is a company called Ventures Keneoka For Tech Crunch, which is planning to raise $15 million to invest in apis. This is going to be the first time an apis company is raising funds in the Subsaharan region.
In January, two major players in the API fintech space in Africa raised funds. Stitch, a South African fintech startup, announced a seed round of $4 million. Its identity API allows users to streamline KYC, payments, and other financial activities. Founders Factory Africa invested in the startup.
Other notable fintechs in Africa include Pngme, an Israeli-American machine learning-as-a-service platform. The company has raised $15 million in Series A funding. Previously, it raised $3 million in a seed round.
Another fintech in Africa is Ejara, a Cameroonian financial services company. In February, it entered Y Combinator.
Another startup in Africa that recently raised a significant investment is Thepeer. It connects business wallets with one another. Previously, it was a digital insurance broker.
The fintech industry in Africa is starting to heat up. The first major player was Djamo, which entered Y Combinator in February. There are also several other notable startups in Africa, including Kwik, which provides B2B logistics for e-commerce platforms.
In the world of fintech, San Francisco-based Pngme has recently raised $15 million for their financial data infrastructure play. The system is designed to help banks and other financial institutions collect economic information from their customers. Not only that, but Pngme has also secured checks from angel investors and other third parties. As for the company’s business plan, CEO Brendan Playford says they plan to expand their Insights Library product, as well as their sales and engineering teams.
Pngme’s system isn’t exactly new, but what is unique about it is its ability to unbundle economic data. For example, the company has a mobile SDK and an information handling pipe that is designed to sift through billions of financial institution data points. Its big win is that they can do this with relatively little effort.
One of the biggest challenges facing small and medium-sized businesses in Africa is cash flow, which can be a pain because it takes several days to receive a payment from a customer. Aside from the cost of doing business, the cost of carrying cash is a major pain point for entrepreneurs.
APIs Subsaharan Africa is a startup that is leveraging the API technology to help companies to scale financial products and services. By using a “financial graph,” the company is able to connect businesses and build financial products in multiple markets at the same time. The startup is looking to expand its sales and engineering teams in the future. In addition, the company plans to expand its third-party data connections to other markets.
One of the key features of the “financial graph” is that it allows businesses to write code once, so they can launch in multiple markets, and to build a single product that can be optimized and scaled as their business grows. As a result, the startup describes it as an “infrastructure for financial building blocks” that is needed by businesses looking to build and grow their financial products and services.