Happy midweek guys,
Welcome to the Big 5 Daily, where we bring you information on innovations made in Africa!
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Guess what? Accion Venture Lab, an investment initiative that provides startups with seed capital and support, has unveiled $23 million fund for a brand new inclusive fintech startup fund. The company will be investing in fintech startups who leverage technology to boost the reach, quality, and affordability of financial services for the under-served. Nice initiative!
Next, on the Big 5, PEG Africa, a pay-as-you-go (PAYG) solar company based in West Africa, has secured $5 million funding to expand across West Africa. The funding was secured from ElectriFI impact investment facility. The newly secured funds will be used by PEG Africa to boost its existing markets. Applaudable!
Esusu Financial, a fintech startup based in New York has secured $1.6 million to foster the expansion of its services in the US. The funding round was led by Acumen and six other ventures that leverage a tactical approach to solve financial problems.
Also, Popular spam blocking smartphone application, Truecaller has crossed 1 million premium subscribers’ threshold. The company also unveiled new spam blocking features, in a bid to help users cut off intruders.
Finally, Facebook has revealed its plans to hide like counts on its News Feed post soon. The social networking giant makes this move in a bid to boost the mental health of its users. the new feature will help protect users from envy and depression. Do you agree with this? Share your thoughts!
…and that’s it for today’s edition of the Big 5 Daily!
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