This line-up of stories will help you discover the latest happenings around the tech world, today.
1. Agri-fintech startup HelloChoice closes investment from Standard Bank
Agri-fintech startup, HelloChoice, has announced closing an investment from Standard Bank.
The development comes as the South Africa-based startup looks to solidify its position as the leading digital fresh produce and agricultural marketplace.
Grant Jacobs and Graeme Jarvie founded the startup in 2017, with a goal, according to the duo, to modernise the traditional farm produce buying and selling process.
Following the launch and the vigorous thrust to get it into the market, HelloChoice began operation as a fresh produce trading platform.
Today, agri-fintech venture has helped over 2,000 users, and, has, so far, traded over ZAR100 million, an amount estimated at US$6.8 million.
With the new investment and partnership, Standard Bank will own 25 per cent equity stake in the business.
Speaking on the development, Cofounder, Jacob, noted that the new raiser is expected to fund its plans in areas of tech and operational capacity.
He said: “The strategic investment will help us to further fund ongoing tech investment and operational capacity, as we leverage our complementary offerings and strengths to deliver more innovative services and solutions to customers in South Africa and across our continent.”
Tech Trivia: Which social media app only lets you view pictures and messages for a limited time?
Answer: See end of post
2. Egyptian commerce marketplace Shiphaly raises 6-figure seed funding round
Shiphaly, a popular startup that connects shoppers and travellers in Egyptian, has raised an undisclosed six-figure seed funding round.
The startup, which launched in 2019, secured the founding from angel investors as it seeks to build further growth.
According to local sources familiar with the startup, the venture operates as a mobile app and marketplace connecting shoppers who want to buy products from abroad with travellers who can buy and deliver the products in return for a cash reward.
Though undisclosed, the raiser was led by Faisal Abdulsalam, popular as the founder of Purity, and an active investor in Saudi Arabia and Egypt.
Earlier in 2019, Shiphaly was funded and accelerated by Flat6Labs, a leading seed and early stage venture capital firm, which according to Crunchbase, is currently running the most renowned startup programs in Cairo.
Tech Trivia Answer: Snapchat
Snap Inc. Snapchat is an American multimedia instant messaging app and service developed by Snap Inc., originally Snapchat Inc.
One of the principal features of Snapchat is that pictures and messages are usually only available for a short time before they become inaccessible to their recipients.