HomeTechnologyWith $250M Series D, fintech Flutterwave becomes Africa’s highest-valued startup – TechCrunch

With $250M Series D, fintech Flutterwave becomes Africa’s highest-valued startup – TechCrunch

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Hello and welcome to Daily Crunch for Wednesday, February 16, 2022! Most funding tales don’t go viral, however at this time is a little bit of an exception – Flutterwave’s enormous spherical made an influence, I can affirm.

But earlier than that and the remainder of the information, am pleased to announce that GV’s Terri Burns is coming to TechCrunch Early Stage to talk product-market fit, which ought to be an ideal session. See you there! – Alex

The TechCrunch Top 3

  • Say hello to the Kids Online Safety Act (KOSA): It could appear that it has been years since former Facebook worker Frances Haugen leaked a bunch of docs from the corporate and made appearances earlier than Congress to speak concerning the influence of social media on us people. Her disclosures look like having an influence within the type of a brand new invoice, which TechCrunch reviews will “require social media companies to provide users under 16 with the option to protect their information, disable addictive product features, opt out of algorithmic recommendations,” and extra.
  • Flutterwave raises $250M, triples valuation: By now you recognize that startups based mostly in and increasing into Africa are elevating a lot of enterprise capital. But even with that backdrop, Flutterwave’s new $3 billion valuation made folks sit up and take discover. The startup, we write, “facilitates cross-border payments transactions of small to large businesses in Africa via one API,” in case you didn’t know.
  • Welcome to the post-pandemic economy: Regardless of the place you reside, and the way locked down you should still be due to the COVID-19 pandemic, the financial system is shifting on. Companies that did properly throughout lockdown are coming again to Earth, whereas others that had a poor run amid the COVID financial system are recovering. For startups, it’s a brand new (outdated) world.

Startups/VC

Today we’re beginning off with what I’m calling the Mary Ann beat. Mary Ann Azevedo is directly an excellent journalist and human whereas additionally being the one busiest individual on the planet. From her voluminous archive, two tales from at this time:

  • Nomad raises $20M: Founded by some former Twilio denizens, Nomad needs to vary the renter-rentee relationship with merchandise that may assure earnings to smaller landlords.
  • $200M for low-code fintech apps: Mary Ann additionally wrote about Genesis, which simply raised a nine-figure spherical after securing $45 million final yr, to assist monetary establishments make extra apps, extra shortly. Tiger, naturally, led the spherical.

(Scroll down a wee bit to see yet one more from Mary Ann!) And now onto the remainder of the day’s startup information and happenings!

  • Forget buying music archives. Buy YouTube archives: It seems that the financialization of content material gained’t cease at music catalogs of boomer superstars. And that’s not a diss, thoughts. TechCrunch writes that Spotter has simply raised $200 million to pre-pay creators for his or her video revenues, which it then collects over time. If anybody needs to supply me $100 million for the longer term earnings of my already produced writing, do say hi there.
  • The ups and downs of discounting: Our personal Haje Jan Kamps has a chunk on the positioning at this time about discounting and the way it might help — and harm — your backside line. He speaks from expertise.
  • Music therapy for Gen Z? Speak hi there to Spoke, a startup that simply raised a modest spherical for music with advantages to your mind. Mindfulness isn’t new as an idea, but it surely tends to be stapled to issues like meditation and never music. Spoke, subsequently, is one thing a bit new.
  • AI-powered storefronts are big business: That’s our lesson from Voila, which simply raised $6 million for simply that work. What’s an AI-powered storefront? Per TechCrunch, as an alternative of a boring hyperlink listing, the tech can create “customizable, shoppable storefronts by automatically detecting items in the creators’ online content, then generating shoppable links,” which most likely makes extra sense if you’re an Instagram fan. Which I’m not.

And in fact there was much more, together with Instrumental raising big bucks for software-powered manufacturing checks, Employment Hero becoming an AUD unicorn while making an acquisition, and the latest Equity episode digging into the correction underway at Hopin.

9 fintech traders focus on what they’re on the lookout for and pitch them in Q1 2022

A roll of US currency with a $10 bill on the outside, Alexander Hamilton's portrait in the center.

Image Credits: John Piekos (opens in a new window) / Getty Images

The public markets cooled on fintechs in latest months, however for entrepreneurs nonetheless contemplating beginning up, “outlook good,” says the Magic 8 Ball.

In 2021, a 3rd of all unicorns created have been fintech firms: the sector hoovered in multiple out of each 5 {dollars} VCs invested final yr.

But that knowledge is out there wherever. What founders actually wish to know is: What are traders on the lookout for proper now?

To get an inside view on what fintech traders are fascinated about in Q1 2022, Mary Ann Azevedo reached out to 9 of them.

“Each respondent was kind enough to let us know how they want to be pitched, and for grins, one shared an example of a cold e-mail that worked,” she writes.

(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You can sign up here.)

Big Tech Inc.

  • Waymo 🤝 logistics: Waymo Via, the Alphabet self-driving unit’s freight division, is teaming up with C.H. Robinson for a pilot that can convey 9 figures price of shippers into its orbit. The self-driving revolution seems to be arriving in granny-gear as an alternative of sixth, however, hey, gradual and regular will get the job carried out finally.
  • Twitter to grade the bots: Some bots on Twitter are horrible, making an attempt to rip-off you out of your NFT or sanity. Other bots on Twitter are superb, bringing data, artwork or different delights to their followers. Twitter is rolling out “good bot” labels, we report, which is welcome as a result of there are some superb little robots on the social service.
  • Privacy changes are coming to Android: Our personal Frederic Lardinois has the lowdown on Google eager to convey its PrivacySandbox from Chrome to Android. With advertisers struggling within the wake of Apple’s modifications to iOS privateness, updates to how main cellular platforms deal with person knowledge are understood to be massive darn offers.
  • Snap teams up with TicketMaster: At the highest of this article, we famous that the financial system is getting again to an IRL standing after a couple of years of lockdown. For proof of that swap, look no additional than at this time’s information that Snap – mother or father firm of Snapchat – is working with TicketMaster to attach its customers with close by occasions.

TechCrunch Experts

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Image Credits: SEAN GLADWELL / Getty Images

TechCrunch is recruiting recruiters for TechCrunch Experts, an ongoing venture the place we ask prime professionals about issues and challenges which are frequent in early-stage startups. If that’s you or somebody you recognize, you’ll be able to tell us here.

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