Sierra Leone's Planet Solar Project $52 million boost💰

TODAY’S MENU

• BII, FMO, and Proparco Co-invest Over $52 Million in Sierra Leone’s Planet Solar Project

• Flutterwave Expands Money Transfer Capabilities with Licenses in 13 U.S. States

• HAVAÍC invests $1 million in Sportable’s Series A funding round

• Bitmama acquires Payday

INVESTMENT

tappi Secures $1.5M in Pre-Seed Funding to Boost SMEs in Africa

tappi, a digital commerce Software as a Service (SaaS) solution tailored for small and medium-sized businesses (SMEs), has successfully raised $1.5 million in a pre-seed funding round. The investment was led by Mercy Corps Ventures and Chui Ventures, with participation from notable backers, including Digital Currency Group, SOSV, Resilience17, growX ventures, Orbit Startups, Reflect Ventures, and angel investors from tech giants like Google, Salesforce, and Zendesk....….read more

BII, FMO, and Proparco Co-invest Over $52 Million in Sierra Leone’s Planet Solar Project

Development Finance Institutions, British International Investment (BII), FMO, and Proparco, along with renewable fund manager Frontier Energy, have announced a co-investment exceeding $52 million in the Planet Solar project, a greenfield 50MW solar power initiative in Sierra Leone. Developed by Frontier Energy and Planet One, the project aims to address the urgent need for clean, affordable, and stable power in the country…..read more

HAVAÍC invests $1 million in Sportable’s Series A funding round

HAVAÍC, a venture capital firm based in Cape Town, is investing $1 million (R18.8 million) in Sportable’s Series A funding round, which aims to raise $15 million (R283 million).

Sportable, founded by two South Africans in 2016, utilizes micro-tracking technology for improved data collection and analysis in ball and contact sports, notably rugby, soccer, and American football.

This investment by HAVAÍC, its first in Sportable, makes it the only African investor in this round…..read more

PAYMENTS

Flutterwave Expands Money Transfer Capabilities with Licenses in 13 U.S. States

Flutterwave, one of Africa’s leading payments technology company, announced that it has secured money transfer licenses for 13 U.S. states, enhancing its ability to facilitate faster, more affordable, and secure cross-border transactions between the United States and Africa. The newly acquired licenses cover Arizona, Arkansas, Maryland, Michigan, Delaware, Georgia, Maine, Mississippi, Missouri, New Hampshire, Iowa, North Dakota, and South Dakota. Coupled with existing licenses and partnerships, Flutterwave can now serve customers in 29 U.S. states.....…….read more

X is now licensed for payment processing in 12 US states

Elon Musk is propelling his aspirations to transform the company known as X (formerly Twitter) into an “everything app” encompassing its proprietary payment system. Recently, the company acquired three additional money transmitter licenses in the U.S. states of South Dakota, Kansas, and Wyoming in late November, extending its authorized engagement in money transfers to 12 states…..read more

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ACQUISITION

Bitmama acquires Payday

Bitmama Inc., a prominent cross-border payment solutions company, and Payday, a pioneer in digital payment solutions, have jointly announced the acquisition of Payday by Changera, a product of Bitmama Inc. This was disclosed In a statement made available to Innovation Village.

This is however, coming as a surprise as Payday announced in August 2023, that it had raised $3 million in a funding round led by Moniepoint Inc. So it was expected that Moniepoint would actually be the acquirer. This has turned out not to be the case.

The statement declared that the acquisition is said to be grounded in the shared commitment of both companies to provide enhanced financial services to their valued customers. The collaboration is anticipated to result in an expanded range of innovative product offerings and improved access to global services for customers of both Changera and Payday..……read more