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South Africa startup Quicket which offering online ticketing service has made more than $70 million in total sales.
According to Quicket their growth rate is roughly 70% year on year. Since 2011, they have done more than 50,000 events on the platform and also sold R4 million even in its first year. This year they are hoping to facilitate between R250m to R300m in sales.
They take 2.4% of the commission fees for ticketing, which covers the ticketing component of their fees. Also, they have a field service department to support people having big events.
Quicket was founded by James Hedley, Michael Kennedy, and James Tagg, and they based in Cape Town, South Africa. Currently, they’re selling tickets in South Africa, Tanzania, Kenya, Rwanda, Uganda and Zambia, and also planning to expand in Ghana, Ethiopia, Ghana, Nigeria, Senegal, and Egypt as well.
Reference:https://www.techinafrica.com/quicket-online-ticketing-startup-makes-r1-billion-sales/
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Chinese mobile phone seller Transsion was set to go public in Chinese IPO. Transsion sold over 124 million phones globally in 2018, and they hold 54% of the feature phone market in Africa through its brands Tecno, Infinix and Itel.
Transsion also has retail shops in Kenya, Tanzania, and Nigeria, Egypt and Ethiopia, and plans to spend about USD 227 Mn of the raise in building more phone assembly hubs. Also, their expansion in African market raised company’s valuation to $3.95 Bn.
Africa has led the world in mobile take-up growth in the past few years, but continues to undergo a conversion from basic USSD phones, to feature phones, to smartphones. Still, the smartphone penetration is 34% though it is expected to grow to 67% by 2025.
If Transsion’s IPO enables higher smartphone penetration in Africa, that could enable more startups and startup opportunities
Reference: WeeTracker
https://weetracker.com/2019/09/30/transsion-ipos-star-market/
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Nigerian logistics platform Kobo360 has closed their Series A investment round.
Kobo360 is the logistics startup providing own platform connecting cargo track drivers with companies demanding logistics service to deliver stuffs, almost like Uber like service which is cargo track version.
They describes itself as “the marketplace for shippers and transporters”. Its digital logistics platform aggregates end-to-end haulage operations to help cargo owners, truck owners and drivers, as well as cargo recipients to achieve an efficient supply-chain framework.
They offer values as follows, for cargo owners and cargo track drivers.
・Optimization of delivery route with the analysis of GPS and accumulated data in their data base
・Optimization of capacity of each cargo tracks
・Monitoring drivers’ performance
・Improving Drivers’ working conditions
Additionally, they offer financing service called “Kobo Win” for drivers to purchase own cargo track.
Their Series A is likely the second biggest investment for an African tech startup in 2019 so far, next to Egyptian transportation startup Swvl‘s $42-million round.
It’s concluded $20-million Series-A funding round.
And it’s led by US multinational investment bank and financial services company, Goldman Sachs.
Also we can see the participation of the Asia Africa Investment and Consulting Pte, existing investors TLcom Capital, Y Combinator, and the International Finance Corporation.
In addition to the round, Kobo360 also said it has secured an additional $10-million in local currency working capital financing from three Nigerian commercial banks, namely FCMB, Polaris Bank and Fidelity Bank.
Kobo360’s platform aggregates a fleet of over 10,000 drivers and trucks, with operations in Nigeria, Ghana, Kenya and Togo.
The startup pointed out that it services small businesses and large enterprises that include Dangote Group, DHL, Unilever, Olam, African Industries, Flour Mills of Nigeria, and Lafarge.
By making use of Series A amount, they are planning to advance to Southern and Central Africa.
And they are expanding their service scope towards maintenance workshops in the delivery route.
Don’t take your eyes off from their further growth.
Reference :
https://ventureburn.com/2019/08/kobo360-seriesa-goldman-sachs/?fbclid=IwAR0rNGJ3J9Moys8J7DC2vOISWpuIGVlZh1BCEuNU31w6FlQiJP7hksLArHk
https://weetracker.com/2019/08/14/nigerian-trucking-logistics-startup-kobo360-inks-usd-30-mn-in-two-funding-deals/
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