Less than a decade ago IPOs, acquisitions, and global expansion by African startups were more possibility than reality.The venture became the first African startup unicorn in 2016, achieving a $1 billion valuation after a funding round that included Goldman Sachs, AXA and MTN.Founded in Lagos in 2012 with Rocket Internet backing, Jumia now operates multiple online verticals in 14 African countries.There’ll be a lot more to cover, analyze, and debate pre and post Jumia’s NYSE bell toll—which could happen in coming weeks or months.Collectively, these moves represent a pivot for OneFi away from operating primarily as a digital lender, toward becoming an online consumer finance platform.Through its Visa partnership, OneFi will also offer clients virtual Visa wallets on mobile phones and start providing QR code payment options at supermarkets, on public transit, and across other POS points in Nigeria.
The company will use the financing to add team members and expand off the continent through a partnership with Uber Mexico.The move comes as Africa’s tech-transit space continues to produce unique mobility solutions shaped around local needs.FlexClub touts itself as a “gig economy investment platform” that is creating new asset classes in emerging markets, according to chief executive and co-founder Tinashe Ruzane.FlexClub allows investors to go on the site and purchase a car (ultimately managed and serviced by FlexClub).The startup then connects that car to an Uber driver who uses earnings to pay a weekly rental charge.FlexClub’s platform manages the investment, rental income, and disbursement of funds across all parties.
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