A new wave in Web3 Innovation in Africa.🚀
Web3 Afrika Dev Roundup Oct 17-23rd more funding announcements💰+ MoneyHash launches services across Africa.+CATAPULT Inclusion Africa 2022 + Nuzo Launches Blockchain e commerce+CcHub collabo&google
✨Funding Announcements.
➥Mobility fintech startup Moove secures US$16m to expand its operations.
Moove, a mobility startup that provides revenue-based car finance and financial services to mobility entrepreneurs, has secured a £15 million (US$16.73m) fund from Emso Asset Management to expand its operations in the United Kingdom.The African startup has a growing worldwide client base of mobility entrepreneurs and just started in the United Kingdom. Its first foray into Europe.
The company is currently preparing to launch a 100% EV rent-to-buy strategy, which will allow access to brand new, zero-emissions vehicles for a fixed monthly charge.The fresh capital will allow the mobility firm, which aims to be the largest EV partner on Uber’s network in London, to expand to 10,000 cars by the end of 2025, as previously stated.
➥Fintech startup Nexta secures US$3m investment to prepare for its formal launch.
Egypt-based fintech startup Nexta has announced a US$3 million investment from e-finance, to prepare for its formal launch.In March of this year, Nexta also received a US$2.2 million pre-Seed round headed by Egypt-based fintech startup Disruptech, with participation from global investors. the total amount raised since its inception last year is now at US$5.2 million.
➥Nigerian Fintech Startup Afriex Raises $10 Million For Its Blockchain Money Transfer Platform.
Afriex is a money transfer system that utilises blockchain to enable users to send funds by converting them into stablecoins which are cryptocurrencies backed by reserve assets. This process makes the transaction free and quicker than an existing service likeWise which charges a 6.45% fee and can take a few days to process.
The service originally focused on Nigeria and has since expanded into Uganda, Kenya and Ghana.
➥Egyptian fintech startup MoneyHash launches services across Africa.
Founded in late 2020 by Nader Abdelrazik, Mustafa Eid and Anisha Sekar, MoneyHash provides a unified checkout experience built on top of a secure super-API that aggregates payment and fintech solutions through a single integration, as well as a central dashboard consolidating technical infrastructure and centralising data and operational reporting.
The startup announced a US$3 million pre-seed funding round in February as it emerged from beta, and has now expanded across Africa. MoneyHash has pre-built integrations with top PSPs covering over 90 payment method integrations across the region, and is adding more PSPs and methods on the go. The new launch includes adding PSPs across Nigeria, Kenya, South Africa, and multiple other markets across the continent.
🙌IN ACCELERATORS AND INCUBATORS.
➥CcHub, Google Selected Six Startups For Fintech Incubation Programme In Rwanda.
Co-Creation Hub (CcHub), in collaboration with Google, Rwanda's Ministry of ICT and Innovation, and Mojaloop Foundation, has announced the six startups selected for the second cohort of the Fintech Incubation Programme.
The three-month Fintech Incubation Programme is designed to support early-stage technology startups building solutions focused on increasing financial inclusion. In the programme's first cohort, nine startups were selected, graduating with a demo day in July of this year.
➥15 fintech startups selected for CATAPULT Inclusion Africa 2022
Fifteen African fintech firms have been selected from over 400 applications to participate in the fifth edition of CATAPULT.This year, the CATAPULT: Inclusion Africa programme received a record number of quality applications over 400. The LHoFT has now announced the 15 selected startups that will participate in the fifth edition. The startup acceleration bootcamp will take place in Luxembourg this week. (October 24-28).
🚀WEB3 CORNER
➥Kenyan Web3 Startup Nuzo Launches Blockchain-powered eCommerce for Africa.
Africa has the fastest-growing number of internet users of any region and 60% of its population is below the age of 25 making the region both the world’s youngest and most rapidly-digitising.
Nuzo.co, a Kenyan Shop-to-Earn eCommerce marketplace for small and medium-sized businesses recently hosted its launch event in Nairobi, Kenya.
Nuzo users earn Nuzo Coins when they buy and sell online and these Coins increase in value as the marketplace grows. Nuzo Coins are powered by the mobile-first, carbon-negative Celo blockchain and can be redeemed for buy goods, airtime, and bill pay. After launching in June, Nuzo already has 40,000 users and is growing rapidly.
➥The Celo Africa Web3 Fund Calls for Uganda Startups to Apply.
As part of the Celo Foundation’s global mission to create a more inclusive global financial system, the nonprofit organisation launched the Celo Africa Web3 Fund in July 2022 to help scale African startup projects building on Celo in support of blockchain technology and Web3 adoption.
Following recent workshops in Nairobi and Lagos, Celo’s next workshop will take place in Kampala, Uganda on November 8, 2022.
PROJECT OF THE WEEK🏆
MultiSig Wallet Dex Connect dApp for dy/dx
This is an application built to facilitate easy management of multi-owned DeFi accounts.
Below is an overview of the tech stacks and a little bit of its funtion.
Thanks for reading👌
Contact us: NGENI Linktree
Shiko Karanja✍
About NGENI🔥
NGENI is Kenya and East Africa's first pure-play and largest Blockchain & Web3 development engineering Studio with a 60-plus-person team. The studio recruits and trains recent graduates from STEM Universities across Kenya and today has twenty-five (25) talented developers, at our Kilimani Headquarters.
All engineers have successfully taken on complex coding challenges, and hackathons and have ultimately delivered on complex multi-Blockchain applications, bots, and dApps for international projects.