💰 PalmPay $100m Fundraising Round

Plus: 📺 Netflix price hike again!!

Innovation Village
June 06, 2025

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Today’s Menu ☕️

💰 PalmPay Eyes Global Expansion with New $100m Fundraising Round
📺 Netflix Hikes Subscription Prices in Nigeria Again: What It Means for Viewers
🤖 Why Smart Founders Are Already Replacing Entry-Level Hires with AI (And What It Means for You)
🚙 China's BYD to nearly triple South Africa dealers' network by next year

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💰FUNDING

PalmPay Eyes Global Expansion with New $100m Fundraising Round

PalmPay, a 6-year-old African digital bank fintech, is reportedly raising $50–$100 million in a Series B round to fuel expansion across Africa and Asia. While the company declined to confirm the raise, it said it’s in a strong financial position and exploring growth opportunities. PalmPay, now profitable, has previously raised $140 million and nearly reached unicorn status after its 2021 round.

The new funds—expected to include equity and debt—will support its Nigerian growth, business-focused services, and international rollout. With 35 million users, PalmPay now processes 15 million daily transactions totaling tens of billions of dollars annually.......……continue reading

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📺 MEDIA

Netflix Hikes Subscription Prices in Nigeria Again: What It Means for Viewers

The price hike for all Netflix subscription plans in Nigeria marks yet another adjustment that may affect the viewing habits of millions. Effective June 2025, the Premium Plan now costs ₦8,500, up from ₦7,000. The Standard Plan has been increased to ₦6,500 from ₦5,500, while the Basic Plan now goes for ₦4,000 instead of ₦3,500. Even the Mobile Plan, which many Nigerians go for due to affordability and mobile accessibility, has increased to ₦2,500 from ₦2,200.

The second major price increase in under 18 months is causing mixed reactions, particularly in a country where household budgets are stretched thin due to inflation and currency devaluation.

In its official statement, Netflix attributed the increase to higher investments in content, infrastructure, and overall user experience.......…continue reading

🤖 STARTUPS

Why Smart Founders Are Already Replacing Entry-Level Hires with AI (And What It Means for You)

In 2025, AI is rapidly replacing tasks once handled by interns and junior hires—from writing emails to designing pitch decks and handling support. Startups are leaning on tools like ChatGPT, Gemini, and Midjourney to move faster, cheaper, and often smarter. The traditional model of hiring early and scaling fast is shifting.

In a tighter funding climate, founders now automate non-core functions instead of hiring. SignalFire reports a 25% drop in new grad hiring in tech, with startups down 11%. Today’s AI tools even manage customer research and legal docs—giving early adopters a speed and cost advantage over the rest.........…continue reading

🚙 AUTOMOBILES

China's BYD to nearly triple South Africa dealers' network by next year

Chinese EV giant BYD plans to nearly triple its South African dealerships by next year to boost market share amid rising competition and growing demand for new energy vehicles. Since launching in 2023 with the ATTO 3 electric SUV, BYD has expanded to 13 dealerships and aims to reach 20 by year-end, and 30–35 in 2026, according to BYD South Africa GM Steve Chang.

The company now offers six models, including the plug-in hybrid Shark pickup and SEALION 6, along with the fully electric SEALION 7 SUV, supporting its dual-power hybrid and electric vehicle strategy in the region.....….…continue reading