💰 Tyme Group hits Unicorn status after $250m raise

Today’s Menu ☕️

💰Tyme Group Raises $250m, Cementing Unicorn Status as It Expands in Africa and Asia
💵 Juicyway emerges from stealth mode after raising $3million in pre-seed funding
🪙 Bitcoin Hits Record $106,000 as U.S. Explores a National Crypto Reserve
🔋 Schroders Capital and BlueOrchard invest $5 million in AIIF4 to boost climate-focused infrastructure in Africa
🕶️ Ray-Ban Meta Glasses Introduce Live AI, Real-Time Translations, and Shazam Integration
🪙 Nigeria and South Africa Lead Africa’s Charge in Crypto and Web3 Adoption

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💵 FUNDING

Tyme Group Raises $250m, Cementing Unicorn Status as It Expands in Africa and Asia

Tyme Group, a leading digital banking innovator operating across Africa and Southeast Asia and backed by South African billionaire Patrice Motsepe, has secured $250 million in its Series D funding round, propelling its valuation to $1.5 billion and firmly establishing it as one of the region’s notable fintech unicorns.

The funding was led by Nubank, the world’s largest neobank with 110 million customers spanning Brazil, Mexico, and Colombia. Nubank contributed $150 million, while M&G’s Catalyst and Tyme’s existing shareholders invested $50 million each. The investment brings more than capital; it creates a strategic partnership with Nubank, whose expertise in data analytics, credit risk management, and product marketing is expected to fuel Tyme’s ambitious growth plans...……continue reading

💵 FUNDING

Juicyway emerges from stealth mode after raising $3million in pre-seed funding

After three years of operating quietly under the radar, African fintech startup Juicyway is emerging from stealth mode, revealing impressive growth figures and a bold new direction. The company has also raised $3 million in a pre-seed funding round led by P1 Ventures, an early-stage African investor, with additional participation from Ventures Platform, Future Africa, Magic Fund, Microtraction, and various angel investors​.

Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway is a fintech company based in Africa that leverages stablecoin technology to facilitate fast, affordable cross-border payments. The company claims that it has processed over $1.3 billion in transactions—without a single marketing campaign or public-facing product launch.

Juicyway’s unique approach to growing its business has allowed it to organically gain traction within the African market. With more than 25,000 transactions completed, the fintech has amassed a significant user base of 4,000 businesses, many of which are household names across industries ranging from fintech to energy. The company’s quietly achieved milestones include partnerships with major corporates like Bolt, IHS, and Mocoh SA, alongside top-tier fintechs such as PiggyVest, Bamboo, and Afriex..……continue reading

🪙 CRYPTOCURRENCY

Bitcoin Hits Record $106,000 as U.S. Explores a National Crypto Reserve

Bitcoin has reached a historic milestone, soaring past $106,000 following remarks by U.S. President-elect Donald Trump about establishing a U.S. Bitcoin Strategic Reserve. This unprecedented proposal, akin to the country’s Strategic Petroleum Reserve, has energized cryptocurrency markets, pushing Bitcoin to an all-time high of $106,533 before settling at $104,462. Ethereum also saw gains, climbing 1.5% to $3,965.

The bullish sentiment surrounding Bitcoin stems from rising expectations that the Trump administration will adopt a crypto-friendly regulatory approach. The price just crossed the elusive $100,000 mark some days ago.

During a CNBC interview, Trump hinted at the government’s ambition to dominate the crypto space, stating, “We’re going to do something great with crypto because we don’t want China or anyone else to lead. We want to be the head.” He further confirmed the possibility of creating a Bitcoin reserve, amplifying investor optimism..……continue reading

🪙 CRYPTOCURRENCY

Nigeria and South Africa Lead Africa’s Charge in Crypto and Web3 Adoption

The second annual Global Survey on Crypto and Web3, conducted by Consensys in collaboration with YouGov, highlights an upward trajectory in global cryptocurrency and Web3 adoption. While awareness and ownership of digital assets have grown globally, the report sheds particular light on Nigeria and South Africa as emerging powerhouses in the space, with both nations demonstrating significant engagement in blockchain technologies and decentralization concepts.

Nigeria and South Africa stand out among the surveyed nations, reflecting strong familiarity with cryptocurrency and Web3 technologies. An impressive 73% of Nigerians and 68% of South Africans own or have previously purchased cryptocurrencies, positioning these countries among the highest globally. This trend is driven by several factors, including financial system inefficiencies, inflation, and limited access to traditional banking services, which make crypto an attractive alternative for storing value and conducting transactions..……continue reading

🌞 INVESTMENT

Schroders Capital and BlueOrchard invest $5 million in AIIF4 to boost climate-focused infrastructure in Africa

Schroders Capital and BlueOrchard have committed $5 million to the African Infrastructure Investment Fund 4 (AIIF4) through their Green Earth Impact Fund (GEIF). This investment is aimed at supporting climate-focused infrastructure projects in Africa, marking a significant step towards sustainable development in the region.

GEIF, a collaborative fund managed by Schroders Capital and BlueOrchard, specializes in channeling capital to private equity funds with a strong emphasis on climate impact. The fund’s mission is to drive positive environmental change by investing in projects that contribute to climate resilience and sustainability.

AIIF4, managed by African Infrastructure Investment Managers (AIIM), is a well-established fund in the region, leveraging extensive local partnerships to implement sustainable infrastructure initiatives. AIIM’s expertise and local knowledge enable it to identify and execute impactful projects that address critical infrastructure needs while promoting environmental sustainability......……continue reading

OTHER STORIES

• The Federal Competition and Consumer Protection Commission (FCCPC) has urged the Competition and Consumer Protection Tribunal to dismiss Coca-Cola Nigeria Limited’s (CCNL) amended appeal against the N186,666,666.67 penalty imposed for its labelling and marketing practices, among other issues.……read more

• The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in collaboration with Rolling Energy, has unveiled an initiative to convert 100,000 vehicles to Compressed Natural Gas (CNG) within 18 months.…..read more

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