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Nigerian technology company Moniepoint secures $110 million investment

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Moniepoint, a Nigerian fintech company that serves thousands and thousands of entrepreneurs across Africa, has secured $110 million in financing for expand your corporation. The financing got here from 4 entities: London Development Partners International and Lightrock, which had previously invested within the company; The recent investors are the Google African Investment Fund and Verod Capital.

Moniepoint – formerly called TeamApt –was named fastest growing fintech company in accordance with Financial Times for 2 years.

The company provides quite a lot of financial services, including bank accounts, loans and business management services. It processes over 800 million transactions monthly value over PLN 7 billion.

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Moniepointe co-founder Tosin Eniolorunda says the brand new investor will provide financing help the company improve customer experience.

“Our mission is to assist our customers solve their challenges by making our platform more progressive, transparent and secure. Proceeds from this fundraising will speed up our efforts towards financial inclusion and supporting Africa’s entrepreneurial potential. I need to sincerely thank all the Moniepoint team for making this achievement possible, ” – said Eniolorunda in a press release shared Afrotech.

Adefolarin Ogunsanya, Partner at Development Partners International, also expressed his excitement to contribute to the event of Moniepoint.

“We are delighted to steer this investment round in Moniepoint, one of the vital exciting and fastest growing corporations in Africa. As a profitable company led by a wonderful management team with a transparent strategic vision, Moniepoint is well positioned to proceed its impressive growth trajectory while ensuring financial inclusion for vulnerable businesses and individuals across Africa, Afrotech reports.

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Moniepoint officials say they are going to proceed to prioritize Nigeria, however the company plans to expand into other African countries. The company is currently assessing these markets to evaluate how effectively it may well operate meet customer needs.

The successful fintech company has previously received support from QED Investors, British International Investment (BII) and Endeavor Catalyst. Since its founding in 2015, the company has raised over $180 million.


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This article was originally published on : www.blackenterprise.com

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Students of young, talented and black yale collect $ 3 million on a new application

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Nathaneo Johnson and Sean Hargrow, juniors from Yale University, collected $ 3 million in only 14 days to finance their startup, series, social application powered by AI, designed to support significant connections and challenge platforms, similar to LinkedIn and Instagram.

A duo that’s a co -host of the podcast A series of foundersHe created the application after recognizing the gap in the way in which digital platforms help people connect. SEries focuses moderately on facilitating authentic introductions than gathering likes, observing or involvement indicators.

“Social media is great for broadcasting, but it does not necessarily help you meet the right people at the right time,” said Johnson in an interview with Entrepreneur warehouse.

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The series connects users through AI “friends” who communicate via IMessage and help to introduce. Users introduce specific needs-are on the lookout for co-founders, mentors, colleagues or investors-AI makes it easier to introduce based on mutual value. The concept attracts comparisons to LinkedIn, but with more personal experience.

“You publish photos on Instagram, publish movies on Tiktok and publish work posts on LinkedIn … And that’s where you have this microinfluuncer band,” Johnson added.

The application goals to avoid the superficial character of typical social platforms. Hargrow emphasized that although aesthetics often dominates on Instagram and the content virus drives tabktok, Number It is intentional, deliberate contacts.

“We are not trying to replace relationships in the real world-we are going to make it easier for people to find the right relationships,” said Hargrow.

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Parable projects carried out before the seeded (*3*)Funding roundwhich included participation with Pear VC, DGB, VC, forty seventh Street, Radicle Impact, UNCASMON Projects and several famous Angels Investors, including the General Director of Reddit Steve Huffman and the founder of GPTZERO Edward Tian. Johnson called one meeting of investors “dinner for a million dollars”, reflecting how their pitch resonated with early supporters.

Although not the principal corporations, Johnson and Hargrow based pre-coreneuring through their podcast, through which they interviews the founders and leaders of C-Suite about less known elements of constructing the company-as accounting, business law and team formation.

Since the beginning of the series, over 32,000 messages between “friends” have been mentioned within the test phases. The initial goal of the application is the entrepreneurs market. Despite this, the founders hope to develop in finance, dating, education and health – ultimately striving to construct probably the most available warm network on the earth.

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(Tagstranslate) VC (T) Yale (T) Venture Capital (T) Technology (T) APP

This article was originally published on : www.blackenterprise.com
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Tesla used cars offers rapidly increased in March

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Tesla cars sit in a dealership lot

The growing variety of Tesla owners puts their used vehicles on the market, because consumers react to the political activities of Elon Musk and the worldwide protests they were driven.

In March, the variety of used Tesla vehicles listed on the market at autotrader.com increased rapidly, Sherwood News announcedCiting data from the house company Autotrader Cox Automotive. The numbers were particularly high in the last week of March, when on average over 13,000 used Teslas was replaced. It was not only a record – a rise of 67% in comparison with the identical week of the yr earlier.

At the identical time, the sale of latest Tesla vehicles slowed down even when EV sales from other brands increases. In the primary quarter of 2025, almost 300,000 latest EVs were sold in the USA According to the most recent Kelley Blue Book reporta rise of 10.6% yr on yr. Meanwhile, Tesla sales fell in the primary quarter, which is nearly 9% in comparison with the identical period in 2024.

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Automaks resembling GM and Hyundai are still behind Tesla. But they see growth growth. For example, GM brands sold over 30,000 EV in the primary quarter, almost double the amount of a yr ago, in line with Kelley Blue Book.

(Tagstranslat) electric vehicles

This article was originally published on : techcrunch.com
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Ilya Sutskever uses Google Cloud to supply AI Startup tests

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Co -founder and former scientist of Opeli and former primary scientist ILYA SUTSKEVER, SAFE SUPERINTELELENCE (SSI), uses the Google Cloud TPU systems to supply their AI research, partly latest partnership that corporations announced on Wednesday press release.

Google Cloud claims that the SSI uses TPU to “accelerate its research and development to build safe, overintelical artificial intelligence.”

Cloud suppliers chase a handful of AI Unicorn startups, which spend tons of of hundreds of thousands of dollars annually on computing power supply for training AI Foundation models. The SSI agreement with Google Cloud suggests that the primary will spend a big a part of its computing budget with Google Cloud; The well -known source says TechCrunch that Google Cloud is the primary supplier of SSI calculations.

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Google Cloud has the history of striking computing agreements with former AI researchers, a lot of which now lead billions of dollars of AI start-ups. (Sutskever once worked on Google.) In October Google Cloud said that he can be the primary supplier of computers for World Labs, founded by the previous scientist Ai Ex-Google Cloud Ai Fei-Feii Li.

It is just not clear whether the SSI has hit the partnership with other cloud or computers suppliers. Google Cloud spokesman refused to comment. A spokesman for a secure superintelligence didn’t immediately answer to the request for comment.

SSI got here out of Stealth in June 2024, months after Sutskever left his role because the primary scientist Opeli. The company has $ 1 billion in support from Andreessen Horowitz, Sequoia Capital, DST Global, SV Angel and others.

Since the premiere of the SSI, we’ve got heard relatively little about startup activities. On his websiteSSI says that the event of secure, super -intellectual AI systems is “our mission, our name and our entire product map, because this is our only goal.” SUTSKEVER He said earlier that he identified the “new mountain to climb” and is investigating latest ways to improve the performance of AI Frontier models.

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Before the co -founder of Opeli, Sutskever spent several years on Google Brain examining neural networks. After years of conducting work of security, AI Openai Sutskever played a key role within the overthrow of the overall director of OPENNAI Altman in November 2023. Sutskever later joined the worker’s movement to restore Altman as CEO.

After the Sutskever trial, he was supposedly not seen in Openai offices for months and eventually left the startup to start SSI.

(Tagstransate) ilya SUTSKEVER (T) SSI

This article was originally published on : techcrunch.com
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