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Carbon Launches $100000 Fund to Support Emergent Tech Startups in Africa

Tech Gist Africa by Tech Gist Africa
02/19/2020
in Africa News, News
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Carbon Fund

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Carbon, a Nigerian-based fintech, has launched a $100,000 fund to support tech startup in Africa. The company plans to invest $10,000 in startups for a 5% equity. The initiative, known as the Carbon Disrupt Fund, is expected to spark collaboration and drive growth within the continent.

In addition to the fund, Carbon is also availing its API to fintech startups. It will provide its growing customer base, payment platform, office space, as well as innovation to these startups.


See Also: Airtel Africa Sold 2.2billon shares in its Initial Public Offering in Malawi


Asides this, the fund will enable these early-stage startups to access the market faster. 

Early-stage startups will be able to market their products to Carbon’s customer base and vice versa.

This opportunity is open to startups in Uganda, Kenya, Nigeria, Ghana, Côte d’Ivoire, and Egypt. The applying startups must have a functional product, be in the post-revenue stage, and be willing to expand across Africa. Startups in the insurance, health, and education sectors are also eligible to apply for the Disrupt Fund.

Another new funding opportunity for early-stage startups in the African tech ecosystem is – Iyinoluwa Aboyeji’s Future Africa Fund $50,000 annual investment for 20 startups.

 

More on TechGist Africa

  • Carbon Expands Fintech Offerings to Kenya
  • Google Abruptly Ends Free WiFi Programme in South Africa
  • Ethiopia Imposes Jail Term for Posts Eliciting Unrests Online
  • Ecobank Partners AliPay to Aid Cross Border Payment
  • Internet Connection fully Restored in DR Congo 22 days After Damage of Undersea Cables
Tags: africaFintechnewsNIGERIATech
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