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Alerzo raises 4 billion naira to digitalize informal retail supply chain in Nigeria.

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In a conventional African market, merchants normally put away a specific day to visit fabricating production lines or wholesalers to restock. On this day, as well as fighting with unsteady value structure, upsetting travel measure, and malignant agents, they’re probably going to close their business and not make any deals while occupied with restocking. This cycle generally swells the expense of maintaining a business. 

Alerzo, one of the Nigerian B2B online business retail new companies tackling this issue, has raised $10.5 million series A financing to venture into northern Nigeria. The round was driven by New York-based Nosara Capital. FJ Labs and a few different financial backers across the U.S, Europe and Asia took part in the round. 

This venture round is coming after its $5.5 million seed round last year and $2.5 million working capital office capital. Alerzo has raised more than $20 million since its dispatch. 

Established in 2018 by Adewale Opaleye, as a last-mile conveyance stage that empowers direct conveyance of merchandise from makers down to retailers. Alerzo authoritatively dispatched as a business in 2019 to help street side merchants and shops in Southwest Nigeria stock inventories speedier and proficiently.

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Fin-Tech

Lagos Angel Network appoints new board.

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The Lagos Angel Network (LAN) has named another Board of Governors (BoG) to direct its issues, viable from today October 1, 2021. 

As indicated by a LAN explanation, the new board, led by Kola Aina, General Partner at Ventures Platform, has the command to reposition the association with an emphasis on enrolling and teaching nearby private backers and advocating support for beginning phase putting resources into Nigeria. 

Different individuals from the BoG are Biola Alabi, author, Biola Alabi Media, who will sit as Deputy Chair of the BoG; Yemi Keri, prime supporter, Rising Tide Africa; Olumide Soyombo, fellow benefactor, Voltron Capital; Iyin Aboyeji, organizer, Future Africa; and Gerrad Olisa-Ashar, fellow benefactor, Diaspora Angel Network.

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Fin-Tech

PaySika secures funds to provide neobank services in francophone Africa

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PaySika, a monetary innovation startup creating versatile and online financial answers for French-speaking African nations, today declared that it has gotten a €300,000 ($348,000) pre-seed venture from private supporters in the French, London, and Nigerian tech startup space. 

Established in 2020 by Roger Nengwe and Stezen Bisselou, PaySika professes to be the principal business-to-client (B2C) neobank in the area that works with a chatbot on well known informing applications, including Facebook Messenger, WhatsApp, and Telegram. As per an organization articulation, this permits clients to do their exchanges as basic as sending a SMS. 

Regardless of the expansion of monetary administrations in Africa over the previous decade, there’s been a tirelessly underserved hole in the francophone part of the mainland. Over 80% of the populace in the area, or more than 120 million individuals, don’t approach bank administrations. 

With business banks for the most part centered around the best 10-20% richest clients, versatile cash arrangements from the district’s telcos and fintech new companies have been critical to stretching out admittance to monetary administrations. At present, over 60% of the populace utilize versatile wallets.

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Eden Life raises $1.4m to digitise house chores.

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Eden Life, a Nigeria-based startup digitizing home help for homes across Africa, has raised a seed round of $1.4 million to increase more portion of the overall industry, carrying its absolute venture to $2 million. 

The venture round was driven by LocalGlobe with cooperation from Africa-centered VCs, Future Africa, Samurai Incubate, Village Global, Rising Tide Africa and Enza Capital. 

Eden Life was established in 2019 by three ex-Andela staff members, Nadayar Enegesi, Prosper Otemuyiwa and Silm Momoh, on a $600,000 pre-seed round from loved ones, to target twenty to thirty year olds and Gen Zs who are too occupied to even consider shuffling house tasks with their positions, particularly those in the tech space.

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