African Startups Should Tokenize to Break Biased Funding Cycles
Startup capital in Africa still favors foreign founders at the expense of homegrown projects. A proposal to break the cycle.
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While Africa has not yet seen a “blockchain mega-deal,” the report noted that crypto unicorns might emerge from the region in 2-3 years. As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank. The report, titled “The African Blockchain Report 2021,” shows that blockchain startups were able to raise $91 million within 2022's first quarter. Compared to the first....
In 2021, African fintech startups accounted for 61% of the $2.7 billion in venture capital funding that was deployed on the continent, a new study has found. While its share of global fintech funding is just over one percent, the continent’s fintech sector still recorded one of the highest year-on-year growth rates globally. ‘Record-High Number of Deals Closed’ According to the findings of a new Mastercard study, African fintech startups — whose number grew from 311 in 2019 to 564 in 2021 — accounted for “61% of the USD 2.7 billion deployed across Africa in....
Funding for crypto and blockchain startups is not slowing in 2021 as VC funds appear keen to enjoy the exponential growth potential. Venture capital funding for crypto and blockchain startups looks set to break records in 2021. As previously reported by Cointelegraph, crypto firms received more funding in the first quarter of 2021 than the whole of 2020.Indeed, three companies in the market attracted $1.1 billion from backers in Q1 202 — a third of the total funding for crypto and blockchain firms reported in 2018. With the current bullish enthusiasm in the crypto space, VC funding....
African blockchain-related startups will pitch new products at SWIFT African Regional Conference in Mauritius on May 18. Three African companies were selected by over one hundred judges from across the financial, technology, and investment communities. The total of 89 applications has been evaluated for the second edition of the Startup Challenge. During the showcase, the audience will vote for the three best startups out of 12. Then, the companies will be invited to Sibos, SWIFT’s annual global financial services conference, taking place from 26-29 September in Geneva. The three finalists....
Startups working with Algorand's blockchain may receive up to $500,000 in seed funding through the program.